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Hess Midstream Partners boosts quarterly distribution by 3.6%

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Hess Midstream Partners boosts quarterly distribution by 3.6%

Hess Midstream Partners LP declared a third-quarter cash distribution of 41.1 cents per unit, up 1.4 cents, or 3.6%, from the previous quarter's distribution.

The distribution is an increase of 5.3 cents, or 15%, year over year, according to an Oct. 24 news release. It will be paid Nov. 13 to unit holders of record as of Nov. 4.

Hess Midstream's assets are mainly in the Bakken and Three Forks shale plays in the Williston Basin of North Dakota. Earlier in October, the partnership signed a $6.2 billion deal to acquire the ownership interests of Hess Corp. and Global Infrastructure Partners in Hess Infrastructure Partners LP.