Why Hess Midstream Stock Is Trading Lower

Hess Midstream LP HESM shares are trading lower by 3.83% to $34.44 during Thursday’s session after the company announced a 10 million share offering by a selling shareholder.

The public offering aims to generate $343 million in gross proceeds. The underwriter, J.P. Morgan, has a 30-day option to buy up to 1.5 million additional shares. Hess Midstream will not receive any proceeds from this sale.

The offering is set to close on May 31, pending customary conditions. The shares will be sold on the NYSE, over-the-counter, or through negotiated transactions at market or negotiated prices.

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How To Buy HESM Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Hess Midstream’s case, it is in the Energy sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, HESM has a 52-week high of $36.84 and a 52-week low of $27.11.