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Hess Midstream Partners ( (HESM) ) has shared an announcement.
On March 2, 2026, Hess Midstream LP and its operating subsidiary agreed to repurchase 455,811 Class B units from Chevron affiliate Hess Investments North Dakota LLC for about $18 million, at a price aligned with the March 2 Class A share close, with the units to be cancelled after closing on March 4, 2026. The transaction, funded through the existing revolver, was unanimously approved by the general partner’s board and conflicts committee, slightly increasing the public float while reducing Chevron’s consolidated stake.
Also on March 2, 2026, Hess Midstream entered into a $42 million accelerated share repurchase with JPMorgan Chase Bank to buy back Class A shares, receiving an initial 744,492 shares, or roughly 70% of the expected total, with final settlement due in March 2026. Combined with the sponsor unit buyback, the $60 million program is designed to cancel securities and boost distributable cash flow per Class A share, supporting distribution growth above the company’s at least 5% annual target through 2028 and reinforcing its capital-return and balance-sheet strategy.
The most recent analyst rating on (HESM) stock is a Buy with a $42.00 price target. To see the full list of analyst forecasts on Hess Midstream Partners stock, see the HESM Stock Forecast page.
Spark’s Take on HESM Stock
According to Spark, TipRanks’ AI Analyst, HESM is a Outperform.
The score is driven primarily by strong profitability and cash generation, reinforced by constructive guidance for higher free cash flow and shareholder returns. The main constraint is elevated leverage on the balance sheet, while technicals are positive but appear overextended, raising near-term volatility risk.
To see Spark’s full report on HESM stock, click here.
More about Hess Midstream Partners
Hess Midstream LP is a fee-based, growth-oriented midstream company that owns, operates, develops and acquires oil, gas and produced water handling assets, primarily in the Bakken and Three Forks Shale plays of the Williston Basin in North Dakota. It provides midstream services to Chevron, its subsidiaries and third-party customers, focusing on gathering, processing, terminaling and storage infrastructure.
The partnership’s assets support crude oil, natural gas and NGL logistics, positioning Hess Midstream as a key infrastructure provider in its core shale basins. Its business model emphasizes stable, contract-based cash flows and a return-of-capital framework built around regular distributions and opportunistic equity repurchases.
Average Trading Volume: 1,437,233
Technical Sentiment Signal: Strong Buy
Current Market Cap: $8.2B
For detailed information about HESM stock, go to TipRanks’ Stock Analysis page.