Hess Midstream Repurchases $100MM Class B Units [Yahoo! Finance]
Hess Midstream LP Class A Share (HESM)
Last hess midstream lp class a share earnings: 1/29 08:00 am
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Source: Yahoo! Finance
In total, 2,724,052 of Class B units were repurchased for approximately 1.2% of the consolidated company. The purchase price per Class B unit is $36.71, to be funded with cash on hand. Following the transaction's close on June 26, Hess Midstream ownership is now 41% by the public, 21.2% by Global Infrastructure Partners and 37.8% by Hess Corp. The terms of the transaction were approved by the board of Hess Midstream's general partner. Repurchased units will now be canceled following the closing of the transaction. Hess expects this to result in an increased distributable cash flow per Class A share above its annual distribution target through 2026. The unit repurchases are part of the company's financial strategy to deliver shareholder returns, Hess Midstream CFO Jonathan Stein said in the June 25 press release announcing the transaction. Ongoing unit repurchases began in 2021, reducing the total unit count by almost 25%, Stein said. Hess has returned $1.75 billion to share
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HESM
News
- Hess Midstream LP Announces Signing of Accretive $100 Million Sponsor Unit RepurchaseBusiness Wire
- Hess Midstream LP to Participate in J.P. Morgan Energy, Power & Renewables ConferenceBusiness Wire
- Hess Midstream LP Announces Pricing of Secondary Public Offering of Class A SharesBusiness Wire
- Hess Midstream LP Announces Secondary Public Offering of Class A SharesBusiness Wire
- Those who invested in Hess Midstream (NYSE:HESM) five years ago are up 172% [Yahoo! Finance]Yahoo! Finance
HESM
Earnings
- 4/25/24 - In-Line
HESM
Sec Filings
- 6/26/24 - Form 4
- 6/26/24 - Form 4
- 6/26/24 - Form 4
- HESM's page on the SEC website