** Shares of pipeline operator Hess Midstream HESM.N down 2.8% at $39.69 premarket after secondary offering priced
** Houston-based subsidiary of Hess Corp HES.N announced 11 mln shares sold by Global Infrastructure Partners (GIP) affiliate at $39.45
** Offering size boosted from 10 mln shares, priced at 3.4% discount to last sale
** With the sale, BlackRock-owned BLK.N GIP's stake reduced from 14.3% to ~9%, or ~19.8 mln shares, per the SEC filing
** Goldman Sachs sole bookrunner for offering
** Through Mon close, HESM shares up 10% YTD. Stock was trading around $32.76 a year ago
** Of 5 analysts covering HESM, 3 rate "strong buy" or "buy", 2 rate "hold" and their median PT is $43.50, LSEG data shows
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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