Citigroup initiated coverage on Hess Midstream Partners with a new price target
$HESM
Oil & Gas Production
Energy
Citigroup initiated coverage of Hess Midstream Partners with a rating of Buy and set a new price target of $34.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/8/2024 | $37.00 | Overweight → Neutral | JP Morgan |
| 10/6/2023 | $32.00 | Buy | Goldman |
| 5/10/2023 | $37.00 | Buy | UBS |
| 4/21/2023 | $35.00 | Outperform | Raymond James |
| 12/9/2022 | $34.00 | Buy | Citigroup |
| 3/10/2022 | $33.00 | Overweight → Equal-Weight | Wells Fargo |
| 1/7/2022 | $32.00 | Overweight → Equal-Weight | Morgan Stanley |
| 12/16/2021 | $30.00 → $31.00 | Overweight | Wells Fargo |
Hess Midstream LP (NYSE:HESM) ("Hess Midstream") announced today that Global Infrastructure Partners ("GIP"), a part of BlackRock, has completed a full exit of its position in Hess Midstream as the result of the closing of a registered underwritten public offering on May 30, 2025. Ownership of Hess Midstream on a consolidated basis is now approximately 62.2% for the public and 37.8% for Hess Corporation ("Hess"). "Today's announcement is a milestone in our public journey," said Jonathan Stein, Chief Financial Officer of Hess Midstream. "We are thankful for the prosperous partnership with GIP, which allowed us to build a leading midstream platform together, and we are excited to continue e
Hess Midstream LP (NYSE:HESM) ("HESM") today announced the pricing of the previously announced underwritten public offering of an aggregate 15,022,517 Class A shares representing limited partner interests in HESM by an affiliate of Global Infrastructure Partners, a part of BlackRock (the "Selling Shareholder"), at a public offering price of $37.25 per Class A share. The gross proceeds from the sale of Class A shares by the Selling Shareholder are expected to be $559.59 million. HESM will not receive any proceeds from the sale of Class A shares in the offering. The offering is expected to close on May 30, 2025, subject to customary closing conditions. J.P. Morgan and Citigroup are acting
Hess Midstream LP (NYSE:HESM) ("HESM") today announced the commencement of an underwritten public offering of an aggregate of 15,022,517 Class A shares representing limited partner interests in HESM by an affiliate of Global Infrastructure Partners, a part of BlackRock (the "Selling Shareholder"). HESM will not receive any proceeds from the sale of Class A shares in the offering. J.P. Morgan and Citigroup are acting as the joint bookrunning managers of the offering. The offering of these securities is being made only by means of the prospectus supplement and accompanying base prospectus as filed with the Securities and Exchange Commission (the "SEC"). Copies of the preliminary prospectu