Hess Midstream LP Announces Signing Of Accretive $100M Sponsor Unit Repurchase
Portfolio Pulse from Happy Mohamed
Hess Midstream LP (NYSE:HESM) announced a $100 million repurchase of Class B units from its sponsors, Hess Corporation and Global Infrastructure Partners. The transaction is expected to provide immediate accretion to shareholders and increase distributable cash flow per Class A share.
June 27, 2023 | 12:36 pm
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Hess Midstream's $100M Class B unit repurchase is expected to provide immediate accretion to shareholders and increase distributable cash flow per Class A share.
The repurchase of Class B units will result in increased distributable cash flow per Class A share, providing capacity for incremental distribution growth. This is expected to have a positive impact on HESM's stock price in the short term.
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