Form 4: BlackRock Portfolio Management LLC Reports Changes in Beneficial Ownership of Hess Midstream LP

BlackRock Portfolio Management LLC reports transactions involving Class A and Class B shares of Hess Midstream LP, including the conversion of Opco Class B Units into Class A Shares.

Summary

• BlackRock Portfolio Management LLC filed a Form 4 detailing changes in beneficial ownership of Hess Midstream LP [HESM] shares on February 19, 2025.
• The transactions involve Class A and Class B shares, as well as Opco Class B Units.
• A conversion of 1,650,000 Opco Class B Units into Class A Shares occurred.
• 1,650,000 Class B Shares were cancelled for no consideration in connection with the conversion of Opco Class B Units into Class A Shares.
• BlackRock Portfolio Management LLC disclaims beneficial ownership of certain securities except to the extent of its pecuniary interest therein.
• The filing reports securities beneficially owned by certain business units of BlackRock, Inc. and its subsidiaries and affiliates.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders and major shareholders, providing transparency to the market.

Stakeholder Impact

• Shareholders are informed about changes in ownership structure.
• The market receives updated information about the holdings of major investors.

Key Dates