Hess Midstream (HESM) Q2 EPS Jumps 25%

Capital allocation remained a highlight. Hess Midstream completed $190.0 million in Class B unit repurchases and $10.0 million in Class A share buybacks, reducing total outstanding shares and units. This action supported a $0.7370 per share quarterly distribution, up $0.0272 per share from the prior quarter. Management reaffirmed plans to grow distributions at least 5% annually through 2027, emphasizing excess cash flow as a source of these returns. The company's credit rating was upgraded to investment gra ...