Cushing Asset Management Reduces Stake in Hess Midstream Partners

The investment firm sold nearly half its shares in the midstream energy company during Q4 2025.

Apr. 19, 2026 at 11:27am

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An extreme close-up of intricately engineered metal pipes, valves, and machinery in muted tones of steel gray, copper, and black, conceptually representing the physical assets and infrastructure of the midstream energy industry.The reduction in Cushing Asset Management's stake in Hess Midstream Partners reflects broader shifts in the energy sector as investors reevaluate their holdings in critical midstream infrastructure.Houston Today

CUSHING ASSET MANAGEMENT LP, an investment firm doing business as NXG INVESTMENT MANAGEMENT, reduced its holdings in Hess Midstream Partners LP (NYSE: HESM) by 41.4% during the fourth quarter of 2025, according to a recent SEC filing. The firm previously owned 1,357,200 shares of the midstream energy company's stock.

Why it matters

This reduction in Cushing Asset Management's position in Hess Midstream Partners reflects broader shifts in the energy sector as investors reevaluate their holdings amid changing market conditions and industry dynamics. Hess Midstream Partners operates critical infrastructure supporting oil and gas production in the Bakken Shale region.

The details

According to the filing, Cushing Asset Management sold 960,000 shares of Hess Midstream Partners during Q4 2025, reducing its total stake to approximately 1.36 million shares. This represented around 0.65% of the company's outstanding shares at the end of the quarter. Hess Midstream Partners accounts for about 2.7% of Cushing Asset Management's overall investment portfolio.

  • Cushing Asset Management filed the disclosure with the SEC on April 19, 2026.
  • The reduction in Hess Midstream Partners shares occurred during the fourth quarter of 2025.

The players

CUSHING ASSET MANAGEMENT LP

An investment firm doing business as NXG INVESTMENT MANAGEMENT that previously held a sizable stake in Hess Midstream Partners.

Hess Midstream Partners LP

A midstream energy company that owns and operates crude oil, natural gas, and produced water infrastructure in the Williston Basin, primarily serving producers in the Bakken Shale region.

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The takeaway

This reduction in Cushing Asset Management's position in Hess Midstream Partners reflects broader shifts in the energy sector as investors reevaluate their holdings amid changing market conditions and industry dynamics. The move highlights the evolving landscape for midstream energy companies that provide critical infrastructure supporting oil and gas production.