BlackRock's (BLK, Financial) affiliate, Global Infrastructure Partners, has fully divested its stake in Hess Midstream (HESM) after concluding a registered underwritten public offering on May 30, 2025. Following this transaction, public ownership in Hess Midstream stands at approximately 62.2%, while Hess Corporation (HES) retains a 37.8% stake.
In conjunction with the completion of this offering, three board directors of Hess Midstream's general partner, previously appointed by Global Infrastructure Partners—namely William J. Brilliant, James K. Lee, and Scott E. Telesz—have resigned from their positions. The Board of Directors now consists of up to eight members, with a cap of four directors being affiliated with Hess, and the remaining directors required to be independent.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 15 analysts, the average target price for BlackRock Inc (BLK, Financial) is $1,041.29 with a high estimate of $1,111.00 and a low estimate of $950.00. The average target implies an upside of 6.27% from the current price of $979.89. More detailed estimate data can be found on the BlackRock Inc (BLK) Forecast page.
Based on the consensus recommendation from 18 brokerage firms, BlackRock Inc's (BLK, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for BlackRock Inc (BLK, Financial) in one year is $939.94, suggesting a downside of 4.08% from the current price of $979.89. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the BlackRock Inc (BLK) Summary page.
