Hess Midstream LP (HESM) Stock: Price, Forecast & Analyst Target
Hess Midstream LP (HESM) — MoonshotScore 77/100 (Strong band), calculated Oct 5, 2026. Price $37.75 (-0.79%), as of the Oct 2, 2026 trading session; market cap $7.80B. Expected results Nov 2, 2026.
Educational signal · not a buy or sell recommendation · How to read this
Market value / cash and short-term investments: 1560.00× (market value Oct 2, 2026; cash Jun 30, 2026) · expected results Nov 2, 2026
Hess Midstream LP · HESM · NYSE · Energy · Oil & Gas Midstream
Research dated 2026-09-13: Hess Midstream LP operates gathering, processing, storage, terminaling and export infrastructure rather than producing oil and gas. Its prospects depend on whether growing affiliate volumes can keep the asset network productive enough to support strong cash generation despite heavy debt and planned capital spending.
Price as of Oct 2, 2026
Key Statistics
MoonshotScore v2 · Hess Midstream LP (HESM)
StrongWhy this rating? Method, drivers & history
Bands for the MoonshotScore: Exceptional 80-100 · Strong 65-79 · Fair 45-64 · Weak below 45.
- Business Quality — Is this a genuinely good business?
- Financial Safety — Could this blow up on me?
- Valuation — Am I paying a fair price?
- Growth Durability — Is the growth real and likely to last?
- Momentum — Is the market already moving on this?
Elite quality, but a strained balance sheet and weak growth. Business Quality: Elite; Financial Safety: Strained; Valuation: Fair; Growth Durability: Fading; Momentum: Rising.
- quarterly revenue $399M (Q2 FY2026, quarter ended Jun 2026)
- EPS beat 6 of 8
- Altman Z 2.36 · Piotroski F 7
Holding back: balance-sheet strain, soft growth
Helping: business quality
What has the MoonshotScore done over time?
| Recorded | Score | Band |
|---|---|---|
| 77 | Strong | |
| 77 | Strong | |
| 78 | Strong | |
| 78 | Strong | |
| 78 | Strong | |
| 78 | Strong |
The score moved from 78 in the stored Oct 4, 2026 snapshot to 77 in the current publication computed Oct 5, 2026 (-1); the largest pillar moves were Growth Durability +5 and Momentum +1. This current publication is not yet represented in the immutable snapshot archive.
Calculation uses the most recent completed US trading session. Live price changes do not update the score immediately.
Computed · Educational signal · not a buy or sell recommendation · How the MoonshotScore is computed →
Price & valuation
| Measure | Value | As of |
|---|---|---|
| Latest provided price | $37.75 | |
| Change on the day | -0.79% | |
| 52-week range | $31.63–$41.44 | |
| Market capitalisation | $7.80B | |
| Price / earnings (trailing) | 13.02 | |
| Shares traded on the day | 1.24M | |
| Beta (volatility vs the S&P 500) | 0.5 | |
| Dividends per share (last 12 months) | $3.09 | |
| Dividend yield (last 12 months) | 8.18% |
Price & events
Triangles mark reported quarters on the line: pointing up is above the recorded estimate, down is below, a diamond means no estimate on file or a dated event that is not a results report. Numbers key to the dated list. Point at or tab to any week for its close.
Events behind the price
- · Earnings results · above the recorded estimate
- · Earnings results · below the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings call · management outlook
Results dates follow the earnings feed; call dates follow the transcript provider. Nearby dates do not establish that an event caused a price move.
Upcoming events
Management outlook
Consistent with our annual guidance, we continue to expect volumes to grow in the second half of the year.
Jonathan Stein · Statement from
We expect our capital spend to be higher in the third quarter, in line with planned activity.
Jonathan Stein · Statement from
Statement dates identify the earnings call, not a deadline. Management expectations and provider estimates can change.
Read management statementsCouncil Score · weighted blend of 2 available disciplines
Council score for Hess Midstream LP (HESM): Bullish Lean
72/100 · ASome lenses disagree with the MoonshotScore. Compare their readings below; each uses a different method.
5-Factor Breakdown
Legends Council
6 lenses, 6 current
AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
Read on: Oct 5, 2026
Munger's Mindset
Balance Sheet & Valuation · historical
Read on: Sep 10, 2026 · older than the 27 hours refresh window; not a current reading
How to read these bars and different assessments
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
Bars show each model's ordered assessment on its own scale, not a probability or a comparable investment return. The adjacent words give the assessment; more filled segments indicate a stronger model reading.
One of these lenses reads this company less favourably than the MoonshotScore does: Englander-style lens. Each lens is a separate scoring function over its own inputs, so a disagreement is a difference of method rather than a correction — the page's answer stays the MoonshotScore above.
On Sep 10, 2026, the Munger lens read the price at that time as fairly valued against its own estimate of value.
Readings on this page are from Oct 5, 2026, except a card that shows its own read date.
Watch the HESM film — every key number, told as a short cinematic story
~2 min · open the film
What is Hess Midstream LP (HESM), and what does it report?
Short answer · as of
Hess Midstream collects and compresses natural gas, gathers crude oil, disposes of produced water, processes and fractionates gas, stores propane, and moves crude through terminal, rail and pipeline assets.
Research dated 2026-09-13.
Hess Midstream collects and compresses natural gas, gathers crude oil, disposes of produced water, processes and fractionates gas, stores propane, and moves crude through terminal, rail and pipeline assets. The reported revenue therefore measures infrastructure services, not commodity production or direct sales of extracted hydrocarbons.
Affiliate services account for nearly all revenue, while outside-customer services remain comparatively small. That reporting shape makes demand from affiliated operations far more consequential than broad customer diversification.
What do the latest results show for Hess Midstream LP (HESM)?
Short answer · as of
The most recent reported quarter, Q2 FY2026, carried revenue of $399M.
Research dated 2026-09-13.
The latest period brought a modest revenue rebound, stronger operating profit, higher net income and improved diluted earnings. Operating cash flow also increased while capital spending eased sharply, and reported revenue and earnings exceeded estimates.
Management has not attributed the reported improvement to a specific operating cause. Its forward message is that volumes should grow later in the year, while planned activity should raise capital spending and reduce adjusted free cash flow from the latest level.
Where is operating spending going?
Revenue alongside research and development, selling, general and administrative expenses, and the FMP standardized operating result.
- Latest quarter · revenue
- $399.00M Jun 30, 2026
- Latest quarter · SG&A
- $5.50M Jun 30, 2026
- Latest quarter · FMP standardized operating result
- $253.20M Jun 30, 2026
| Period end | Revenue | R&D | SG&A | FMP standardized operating result |
|---|---|---|---|---|
| Jun 30, 2026 | $399.00M | Not available | $5.50M | $253.20M |
| Mar 31, 2026 | $388.70M | Not available | $7.90M | $238.10M |
| Dec 31, 2025 | $403.10M | Not available | $5.60M | $251.60M |
| Sep 30, 2025 | $419.60M | Not available | $7.30M | $258.90M |
USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow.
Did results meet expectations?
Reported earnings and revenue alongside the estimates recorded by the provider.
- Latest report · revenue
- $399.00M Aug 3, 2026
- Latest report · revenue estimate
- $395.96M Aug 3, 2026
- Latest report · revenue vs estimate
- Above estimate Aug 3, 2026
- Latest report · EPS vs estimate
- Above estimate Aug 3, 2026
| Report date | Revenue · reported | Revenue · estimate | EPS · reported | EPS · estimate |
|---|---|---|---|---|
| Aug 3, 2026 | $399.00M | $395.96M | $0.7500 | $0.6720 |
| May 4, 2026 | $390.10M | $389.51M | $0.6800 | $0.6500 |
| Feb 2, 2026 | $404.20M | $419.16M | $0.7200 | $0.7230 |
| Nov 3, 2025 | $420.90M | $417.92M | $0.7500 | $0.7310 |
Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined.
Quarterly income statement — 4 quarters
| Period | Revenue | Net income | EPS |
|---|---|---|---|
| Q2 FY2026 | $399M | $96M | $0.75 (diluted) |
| Q1 FY2026 | $389M | $88M | $0.68 (diluted) |
| Q4 FY2025 | $403M | $93M | $0.72 (diluted) |
| Q3 FY2025 | $420M | $98M | $0.75 (diluted) |
What are the financial strengths and risks for Hess Midstream LP (HESM)?
Short answer
Cash and short-term investments were $5.00M at the Jun 30, 2026 balance-sheet date. Operating cash flow was $278.60M for the quarter ended Jun 30, 2026, meaning operations generated cash. These figures do not establish a cash runway.
Research dated 2026-09-13.
Annual revenue and net profit have risen persistently, operating margins remain substantial, and recent operating cash flow has comfortably exceeded capital spending. The quality screen is favorable, but the distress screen is less conclusive.
Debt towers over cash and short-term investments, liquidity ratios sit below full coverage of current obligations, and longer-term investments should not automatically be treated as immediately available cash. Affiliate concentration adds an operating risk: weaker demand across the affiliated network could pressure much of the revenue base at once.
How much cash does the business generate or use?
Quarterly operating cash flow shows cash generated or used by operations.
- Latest quarter · operating cash flow
- $278.60M Jun 30, 2026
- Previous quarter · operating cash flow
- $253.30M Mar 31, 2026
| Period end | Operating cash flow | Capital expenditure (reported) |
|---|---|---|
| Jun 30, 2026 | $278.60M | −$23.10M |
| Mar 31, 2026 | $253.30M | −$28.80M |
| Dec 31, 2025 | $245.60M | −$210.10M |
| Sep 30, 2025 | $258.90M | −$80.00M |
Operating cash-flow bars share one scale and show magnitude; negative values mean cash used.
USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway.
What should you watch next at Hess Midstream LP (HESM)?
Short answer · as of
The next earnings report is expected on Nov 2, 2026.
Research dated 2026-09-13.
The next results need to connect management’s expected volume growth with renewed revenue momentum. Watch whether operating cash flow remains resilient as planned activity pushes capital spending higher and adjusted free cash flow lower.
Analyst estimates assume revenue continues expanding beyond the next release. Persistent revenue softness, weaker cash conversion or failure of affiliate volumes to improve would challenge that trajectory even if reported earnings remain firm.
What management is planning
Management expectations, not completed milestones or guarantees. Selected verbatim excerpts; dates follow the transcript provider.
Consistent with our annual guidance, we continue to expect volumes to grow in the second half of the year.
Jonathan Stein ·
We expect our capital spend to be higher in the third quarter, in line with planned activity.
Jonathan Stein ·
We expect adjusted free cash flow in the third quarter of 2026 to decrease relative to the second quarter of 2026 as capital expenditures in the third quarter are projected to be higher than the second quarter, reflecting increased activity.
Michael Chadwick ·
How does Hess Midstream LP compare with its peers?
Short answer
Hess Midstream LP's score ranks 9th of 13 in the bounded comparison shown, against 12 same-model peers. These are company scores, not expected investment returns. The set lists named competitors first, then companies in the same data-provider industry classification closest in market value; that classification is the provider's, not our judgment of business similarity.
Research dated 2026-09-13.
Against a diversified midstream model, Hess Midstream is distinguished by the combination of a broad physical chain and a concentrated commercial base. Its assets span field gathering, gas processing, water disposal, storage, rail handling, terminaling and export connections, yet revenue comes overwhelmingly from affiliate services; network breadth does not equal customer breadth.
| Company | Price | Market value | Score |
|---|---|---|---|
| $116.75 Oct 5, 2026 | $5.62B | 99 5-pillar Oct 5, 2026 | |
| $53.07 Oct 5, 2026 | $11.7B | 99 5-pillar Oct 5, 2026 | |
| $85.86 Oct 5, 2026 | $4.32B | 98 5-pillar Oct 5, 2026 | |
| $40.68 Oct 5, 2026 | $4.09B | 96 5-pillar Oct 5, 2026 | |
| $38.94 Oct 5, 2026 | $8.93B | 89 5-pillar Oct 5, 2026 | |
| $44.27 Oct 5, 2026 | $15.5B | 87 5-pillar Oct 5, 2026 | |
| $26.38 Oct 5, 2026 | $5.16B | 84 5-pillar Oct 5, 2026 | |
| $22.54 Oct 5, 2026 | $18.3B | 79 5-pillar Oct 5, 2026 | |
| Hess Midstream LP (HESM) — this page | $37.75 | $7.80B | 77 |
| $20.91 Oct 5, 2026 | $9.66B | 67 5-pillar Oct 5, 2026 | |
| $74.60 Oct 5, 2026 | $10.2B | 67 5-pillar Oct 5, 2026 | |
| $41.37 Oct 5, 2026 | $14.6B | 65 5-pillar Oct 5, 2026 | |
| $123.67 Oct 5, 2026 | $12.3B | 63 5-pillar Oct 5, 2026 |
Only 5-pillar scores are ranked together. Other models are not directly comparable. Price and score dates are shown separately; market-value dates are unavailable.
The records behind this page
Analyst targets & estimates
What analysts have on file
- Price target, low to high
- $32.00 – $39.00
- Consensus target
- $35.50
- Median target
- $35.50
Consensus record · Captured .
Measured against a quoted price of $37.75 (as of Oct 2, 2026).
Insider activity
Form 4 records via FMP · Most recent available transactions
- Transactions
- 12
- Identified insiders
- 4
- Purchases
- 0
- Sales
- 0
- Other transactions
- 12
Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.
Who holds the shares?
Institutional ownership reported through 13F filings.
- Institutional ownership
- 89.2% Period end Jun 30, 2026
- Previous quarter · ownership
- 89.9% Prior to period end Jun 30, 2026
- Reporting holders
- 295 Period end Jun 30, 2026
- Previous quarter · holders
- 297 Prior to period end Jun 30, 2026
| Holders in provider snapshot | Shares |
|---|---|
| Alps Advisors INC | 29,254,074 |
| Goldman Sachs Group INC | 8,389,537 |
| Invesco Ltd. | 7,535,978 |
| Mirae Asset Global Etfs Holdings Ltd. | 7,055,800 |
| Blackstone INC. | 5,786,130 |
Quarterly filings lag the period end. Holder rows are names in the provider snapshot, not a verified ranking; individual filing dates are not supplied. Related managers may appear separately, so these positions are not summed. Holder snapshot as of Jun 30, 2026.
What has been published about Hess Midstream LP (HESM)?
Hess Midstream LP Energy Stock: Key Questions Answered
Research dated 2026-09-13; the answers below are from that research, and the full attribution is under Sources. The last 3 questions are answered from this page's own dated data, not from the research.
Why is Hess Midstream so dependent on affiliate services?
Affiliate operations supply nearly all reported service revenue, while outside-customer activity contributes comparatively little. Changes in affiliated throughput can therefore affect the business far more than shifts in its smaller external customer base.
What does the Tioga Gas Plant contribute to Hess Midstream?
The Tioga Gas Plant processes and fractionates natural gas within the processing and storage business. It links upstream gathering volumes with products that can move onward through Hess Midstream’s wider infrastructure network.
How will planned capital spending affect Hess Midstream’s cash flow?
Management expects increased activity to lift capital spending and reduce adjusted free cash flow from the latest level. Operating cash conversion will show whether the spending increase remains manageable alongside the debt burden.
How do the Ramberg terminal and Johnson’s Corner Header System fit together?
The Ramberg facility provides terminal infrastructure, while the Johnson’s Corner Header System connects crude oil through a pipeline network. Alongside rail and gathering assets, they extend Hess Midstream’s role from field collection toward downstream transportation and export access.
What is the HESM stock price today?
The last price recorded on this page for Hess Midstream LP (HESM) is $37.75, as of the Oct 2, 2026 trading session (source: Financial Modeling Prep (FMP) · quote). It is a provider snapshot, not a live exchange feed, so check a brokerage quote before you trade.
What is the HESM price target?
The analyst consensus price target for Hess Midstream LP (HESM) is $35.50 (range $32.00 to $39.00, median $35.50), per FMP data captured Oct 5, 2026. Targets are analyst opinions and change often; they are not a Stock Expert AI forecast.
Does HESM pay a dividend?
Yes. Hess Midstream LP (HESM) shows a trailing 12-month dividend yield of 8.18%, as of Oct 2, 2026, in the data on this page. Payout ratio and cash-flow coverage decide whether it can last, and past dividends do not guarantee future payments.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Research written by Codex (gpt-5.6-sol) on 2026-09-13. AI-authored analysis; source dates are shown with each answer. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief.
Sources — records for every figure on this page (81 figures)
The 81 rows below are exactly the facts the evidence-backed sections of this page printed — the 10-second verdict, the MoonshotScore, price and market value, the five questions with their receipts, and the records behind this page. Known dates and sources are recorded on their own rows; an em dash or UNRECORDED tier preserves a stored observation without inventing either. The quarterly income statement is provider-standardized (FMP) under one row, and scale definitions — a 0-100 rating, the band ladder, the Piotroski 0–9 range — are fixed rather than measured. No number in those sections was generated by a model. The register does not cover quoted third-party headlines, the dated council readings, or the Frequently Asked Questions; each of those says where it came from where it stands.
"As of" is the date the value is true for where the source carries one — a quarter end, a filing date, a price close, the day the score was computed. A cached observation with no source date remains undated; the page publication date is not used as a substitute.
OFFICIAL — 2 facts from SEC filings and earnings calls
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
prod.outlook | Management outlook — call excerpts | Jonathan Stein (Aug 5, 2026): Consistent with our annual guidance, we continue to expect volumes to grow in the second half of the year. Jonathan Stein (Aug 5, 2026): We expect our capital spend to be higher in the third quarter, in line with planned activity. Michael Chadwick (Aug 5, 2026): We expect adjusted free cash flow in the third quarter of 2026 to decrease relative to the second quarter of 2026 as capital expenditures in the third quarter are projected to be higher than the second quarter, reflecting increased activity. | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) — Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. | |
id.hq | SEC filing business address | Houston, TX | OFFICIAL | SEC EDGAR filer business address — The SEC filer business address. Our market-data provider separately lists "1501 McKinney Street, Houston, TX, 77002, US". |
FMP — 70 facts from Financial Modeling Prep endpoint families
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.next | Next earnings date | Nov 2, 2026 | FMP | Financial Modeling Prep (FMP) earnings calendar — The date is our provider's estimate until the company confirms it. | |
px.last | Latest provided price | $37.75 | FMP | Financial Modeling Prep (FMP) · quote — Dated to the US trading session the price belongs to, derived from the quote record's timestamp (weekend and pre-open reads roll back to the previous weekday; exchange holidays are not modelled). The record does not establish an exchange execution time. Retrieved 2026-10-05T12:34:52.586Z. | |
px.change | Change on the day | -0.79% | FMP | Financial Modeling Prep (FMP) · quote | |
px.mcap | Market capitalisation | $7.80B | FMP | Financial Modeling Prep (FMP) · quote — Date unknown Market cap record date: 2026-10-02. FMP quote timestamp: 2026-10-02T20:00:03.000Z. Captured from FMP at 2026-10-05T12:34:50.865Z. No share-count basis is inferred; this page preserves the reported amount instead of recalculating it from shares. | |
px.change_abs | Change on the day, in dollars | −$0.30 | FMP | Financial Modeling Prep (FMP) · quote | |
fin.q_revenue | Revenue, Q2 FY2026 | $399M | FMP | Financial Modeling Prep (FMP) · income statement (quarterly) | |
px.range52 | 52-week range | $31.63–$41.44 | FMP | Financial Modeling Prep (FMP) quote | |
px.pe | Price / earnings (trailing) | 13.02 | FMP | Financial Modeling Prep (FMP) · quote | |
px.volume | Shares traded on the day | 1.24M | FMP | Financial Modeling Prep (FMP) · quote | |
px.beta | Beta | 0.5 | FMP | Financial Modeling Prep (FMP) company profile | |
id.ceo | Chief executive | Jonathan C. Stein | FMP | Financial Modeling Prep (FMP) key executives (proxy-derived) — Titles and pay come from the company's proxy statement as our provider parsed it. | |
id.employees | Employees | 195 | FMP | Financial Modeling Prep (FMP) employee count, from the company's filing | |
fin.annual | Revenue and net result by fiscal year | 5 fiscal years, FY2021 through FY2025: FY2021 revenue $1.20B, net result $46.40M; FY2022 revenue $1.27B, net result $83.90M; FY2023 revenue $1.35B, net result $118.60M; FY2024 revenue $1.49B, net result $223.10M; FY2025 revenue $1.62B, net result $352.90M | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements | |
fin.rev_mix | Reported revenue segments | Affiliate Services $1.57B · Third Party Services $43.60M | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K | |
fin.gross_margin | Gross margin (trailing twelve months) | 77.5% | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.q_table.depth.2026-06-30.revenue_k | Revenue — period end 2026-06-30 | $399.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.sga_k | SG&A — period end 2026-06-30 | $5.50M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.operating_result_k | FMP standardized operating result — period end 2026-06-30 | $253.20M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.revenue_k | Revenue — period end 2026-03-31 | $388.70M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.sga_k | SG&A — period end 2026-03-31 | $7.90M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.operating_result_k | FMP standardized operating result — period end 2026-03-31 | $238.10M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.revenue_k | Revenue — period end 2025-12-31 | $403.10M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.sga_k | SG&A — period end 2025-12-31 | $5.60M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.operating_result_k | FMP standardized operating result — period end 2025-12-31 | $251.60M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.revenue_k | Revenue — period end 2025-09-30 | $419.60M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.sga_k | SG&A — period end 2025-09-30 | $7.30M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.operating_result_k | FMP standardized operating result — period end 2025-09-30 | $258.90M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
earn.history.depth.2026-08-03.revenue_actual | Revenue · reported — report date 2026-08-03 | $399.00M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-03.revenue_estimated | Revenue · estimate — report date 2026-08-03 | $395.96M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-03.eps_actual | EPS · reported — report date 2026-08-03 | $0.7500 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-03.eps_estimated | EPS · estimate — report date 2026-08-03 | $0.6720 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-04.revenue_actual | Revenue · reported — report date 2026-05-04 | $390.10M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-04.revenue_estimated | Revenue · estimate — report date 2026-05-04 | $389.51M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-04.eps_actual | EPS · reported — report date 2026-05-04 | $0.6800 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-04.eps_estimated | EPS · estimate — report date 2026-05-04 | $0.6500 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-02.revenue_actual | Revenue · reported — report date 2026-02-02 | $404.20M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-02.revenue_estimated | Revenue · estimate — report date 2026-02-02 | $419.16M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-02.eps_actual | EPS · reported — report date 2026-02-02 | $0.7200 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-02.eps_estimated | EPS · estimate — report date 2026-02-02 | $0.7230 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-03.revenue_actual | Revenue · reported — report date 2025-11-03 | $420.90M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-03.revenue_estimated | Revenue · estimate — report date 2025-11-03 | $417.92M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-03.eps_actual | EPS · reported — report date 2025-11-03 | $0.7500 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-03.eps_estimated | EPS · estimate — report date 2025-11-03 | $0.7310 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
fin.q_table | Quarterly income statement | 4 quarters through Q2 FY2026 | FMP | Financial Modeling Prep (FMP) · income statement (quarterly), as filed | |
fin.cash_investments | Cash and short-term investments | $5.00M | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. | |
fin.opcf_latest | Latest-quarter operating cash flow | $278.60M | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Period end: 2026-06-30. Negative operating cash flow means cash used. This figure is not a cash-runway estimate. | |
fin.long_term_investments | Long-term investments (classification unverified) | $83.20M | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.total_debt | Total debt | $3.68B | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.price_to_book | Price to book value | 9.42× | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.opcf.depth.2026-06-30.operating_cash_flow_m | Operating cash flow — period end 2026-06-30 | $278.60M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.operating_cash_flow_m | Operating cash flow — period end 2026-03-31 | $253.30M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-06-30.capex_m | Capital expenditure (reported) — period end 2026-06-30 | −$23.10M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.capex_m | Capital expenditure (reported) — period end 2026-03-31 | −$28.80M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.operating_cash_flow_m | Operating cash flow — period end 2025-12-31 | $245.60M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.capex_m | Capital expenditure (reported) — period end 2025-12-31 | −$210.10M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.operating_cash_flow_m | Operating cash flow — period end 2025-09-30 | $258.90M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.capex_m | Capital expenditure (reported) — period end 2025-09-30 | −$80.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
earn.pt_range | Analyst price target, low to high | $32.00 – $39.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
earn.pt_consensus | Consensus analyst price target | $35.50 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
earn.pt_median | Median analyst price target | $35.50 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
own.insiders | Insider transactions via FMP | 12 transactions · 0 purchases, 0 sales, 12 other transactions · 4 identified insiders · most recent available transactions | FMP | Financial Modeling Prep (FMP), carrying Form 4 transaction records — Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent. | |
own.institutions.depth.ownership_pct | Institutional ownership | 89.2% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.ownership_pct_previous_quarter | Previous quarter · ownership | 89.9% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.institutions.depth.holders | Reporting holders | 295 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.holders_previous_quarter | Previous quarter · holders | 297 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.top_holders.depth.holder_0.shares | Alps Advisors INC — shares in provider snapshot | 29,254,074 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_1.shares | Goldman Sachs Group INC — shares in provider snapshot | 8,389,537 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_2.shares | Invesco Ltd. — shares in provider snapshot | 7,535,978 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_3.shares | Mirae Asset Global Etfs Holdings Ltd. — shares in provider snapshot | 7,055,800 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_4.shares | Blackstone INC. — shares in provider snapshot | 5,786,130 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. |
UNRECORDED — 2 facts from stored observations whose source was not recorded
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.history | Reported versus estimated, recent quarters | EPS beat 6 of 8 | UNRECORDED | Stored earnings-history observation — Captured 2026-09-30 · Expired observation | |
fin.scores | Distress and quality screens | Altman Z 2.36 · Piotroski F 7 | UNRECORDED | Stored financial-scores observation — Captured 2026-10-04 · Expired observation |
COMPUTED — 5 facts from our arithmetic, formula restated
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
fin.mcap_to_cash | Market value per dollar of cash and short-term investments | 1560.00× | — | COMPUTED | Computed on this page from the figures above — The market capitalisation printed on this page divided by cash and short-term investments of $5.00M at Jun 30, 2026. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. Market cap record date: 2026-10-02. Balance-sheet reference date: 2026-06-30. The inputs do not establish a single common source date for this ratio. |
div.ttm_per_share | Dividends per share, last 12 months (split-adjusted) | $3.09 | COMPUTED | Financial Modeling Prep (FMP) split-adjusted dividend history — Sum of 4 split-adjusted declared dividends with an ex-date in the 365 days to 2026-10-04, per current share. Ex-dates are not payment dates; special dividends are included. Not a declared annual rate. | |
div.ttm_yield | Dividend yield, last 12 months | 8.18% | COMPUTED | Financial Modeling Prep (FMP) split-adjusted dividend history and quote — Split-adjusted dividends with ex-dates in the trailing 365-day window divided by the packet price, on the same current-share basis. Price date follows the quote, latest price bar or packet-build day when unstamped. Not a forecast or declared annual rate. | |
earn.history.depth.2026-08-03.revenue_actual.comparison | Latest report · revenue vs estimate | Above estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported revenue ($399.00M) with the recorded estimate ($395.96M) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
earn.history.depth.2026-08-03.eps_actual.comparison | Latest report · EPS vs estimate | Above estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported EPS ($0.7500) with the recorded estimate ($0.6720) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
OURS — 2 facts from Stock Expert AI's own score and rank
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
ours.moonshot | MoonshotScore v2 | 77 of 100 · Strong · pillars 98 / 27 / 65 / 33 / 62 | OURS | Stock Expert AI MoonshotScore v2 engine | |
ours.moonshot_change | MoonshotScore movement | 78 (stored snapshot Oct 4, 2026) → 77 (current publication computed Oct 5, 2026) (-1) | OURS | Stock Expert AI current score publication and immutable score snapshots — The current score publication is not yet represented in the immutable snapshot archive. |
Fact-family notes
- Quarterly statement note. Source series as of 2026-06-30. USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow. Applies to Fact IDs:
fin.q_table.depth.2026-06-30.revenue_k,fin.q_table.depth.2026-06-30.sga_k,fin.q_table.depth.2026-06-30.operating_result_k,fin.q_table.depth.2026-03-31.revenue_k,fin.q_table.depth.2026-03-31.sga_k,fin.q_table.depth.2026-03-31.operating_result_k,fin.q_table.depth.2025-12-31.revenue_k,fin.q_table.depth.2025-12-31.sga_k,fin.q_table.depth.2025-12-31.operating_result_k,fin.q_table.depth.2025-09-30.revenue_k,fin.q_table.depth.2025-09-30.sga_k,fin.q_table.depth.2025-09-30.operating_result_k. - Earnings-history note. Source series as of 2026-08-03. Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined. Applies to Fact IDs:
earn.history.depth.2026-08-03.revenue_actual,earn.history.depth.2026-08-03.revenue_estimated,earn.history.depth.2026-08-03.revenue_actual.comparison,earn.history.depth.2026-08-03.eps_actual.comparison,earn.history.depth.2026-08-03.eps_actual,earn.history.depth.2026-08-03.eps_estimated,earn.history.depth.2026-05-04.revenue_actual,earn.history.depth.2026-05-04.revenue_estimated,earn.history.depth.2026-05-04.eps_actual,earn.history.depth.2026-05-04.eps_estimated,earn.history.depth.2026-02-02.revenue_actual,earn.history.depth.2026-02-02.revenue_estimated,earn.history.depth.2026-02-02.eps_actual,earn.history.depth.2026-02-02.eps_estimated,earn.history.depth.2025-11-03.revenue_actual,earn.history.depth.2025-11-03.revenue_estimated,earn.history.depth.2025-11-03.eps_actual,earn.history.depth.2025-11-03.eps_estimated. - Cash-flow note. Source series as of 2026-06-30. USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway. Applies to Fact IDs:
fin.opcf.depth.2026-06-30.operating_cash_flow_m,fin.opcf.depth.2026-03-31.operating_cash_flow_m,fin.opcf.depth.2026-06-30.capex_m,fin.opcf.depth.2026-03-31.capex_m,fin.opcf.depth.2025-12-31.operating_cash_flow_m,fin.opcf.depth.2025-12-31.capex_m,fin.opcf.depth.2025-09-30.operating_cash_flow_m,fin.opcf.depth.2025-09-30.capex_m.
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Sources used for research written 2026-09-13
Historical evidence preserved with this analysis. Current figures are listed separately above.
| Evidence | Captured value | Source date | Source type | Source |
|---|---|---|---|---|
| Legal name | Hess Midstream LP | 2026-02-25 | OFFICIAL | SEC EDGAR — 10-K filed 2026-02-25 |
| Business description | Hess Midstream LP specializes in the ownership, development, operation, and acquisition of energy infrastructure assets positioned midstream in the value chain. The company organizes its business activities into three distinct operational segments: Gathering, Processing and Storage, and Terminaling and Export. The Gathering segment manages systems for the collection and compression of natural gas, the transportation of crude oil, and the disposal of produced water. This extensive network comprises approximately 1,350 miles of pipelines designed for both high and low-pressure natural gas and natural gas liquids, with a daily capacity of about 450 million cubic feet. Additionally, it features around 550 miles of crude oil gathering pipelines. Within the Processing and Storage segment, key assets include the Tioga Gas Plant, located in Tioga, North Dakota, which performs natural gas processing and fractionation. The company also holds a 50% ownership interest in the Little Missouri 4 gas processing plant, situated in McKenzie County, North Dakota, south of the Missouri River. Furthermore, this segment oversees the Mentor Storage Terminal in Mentor, Minnesota, a facility encompassing a propane storage cavern and capabilities for rail and truck loading and unloading. The Terminaling and Export division encompasses the Ramberg terminal facility, the Tioga rail terminal, and a fleet of crude oil rail cars. It also operates the Johnson's Corner Header System, which is a network of crude oil pipelines. Hess Midstream LP was founded in 2014 and maintains its principal offices in Houston, Texas. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) company profile |
| Revenue by segment | Affiliate Services: $1.57B; Third Party Services: $43.60M | 2025-12-31 | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K |
| Operating cash flow by quarter (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements |
| Cash, investments and debt | Total debt: $3.68B; Liquidity basis: cash and short-term investments; Total liabilities: $3.87B; Cash and short-term investments: $5.00M; Cash and investments: $88.20M; Long-term investments: $83.20M; Long-term investments classification: unclassified Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's balance sheet |
| Management outlook — dated call excerpts | Captured record · 3 entries
Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. | 2026-08-05 | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) |
| Sector / industry (provider taxonomy) | Energy / Oil & Gas Midstream The company's SEC filings classify it under SIC 1311 — Crude Petroleum & Natural Gas. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) company profile |
| Quarterly income statement (USD thousands) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements |
| Reported versus estimated, last 8 quarters | Captured record · 8 entries
| 2026-08-03 | FMP | Financial Modeling Prep (FMP) earnings |
| Annual revenue and net result (USD millions) | Captured record · 5 entries
| 2025-12-31 | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements |
| Cash and investment components | Total basis: cash short and long-term investments; Total: $88.20M; Cash and short-term investments: $5.00M; Long-term investments: $83.20M; Long-term investments classification: unclassified Sums the balance sheet's cash and short-term investments with its long-term investments.; The long-term investment field does not establish marketability; the sum is not a measure of available liquidity.; These provider fields do not establish investment access restrictions or explain differences from third-party cash figures. | 2026-06-30 | COMPUTED | Computed from the balance sheet |
| Cash and short-term investments over time (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's quarterly balance sheets |
| Cash decline over the reported window | To: 2026-06-30; From: 2024-09-30; Periods: 7; Cash basis: cash and short-term investments; Closing balance: $5.00M; Decline: $5.30M; Opening balance: $10.30M; Average change per period: $800,000 Change in cash, cash equivalents and short-term investments between the 2024-09-30 and 2026-06-30 balance sheets.; This is a balance change, not operating burn: financing and investing move it too.; Averaged over 7 reporting periods of unequal length. | 2026-06-30 | COMPUTED | Computed from reported balances |
| Cash against market value | As of: 2026-06-30; Cash basis: cash and short-term investments; Net cash: -$3.67B; Total debt: $3.68B; Cash and investments: $5.00M Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. Cash is the latest reported cash and short-term investment balance; long-term investments are excluded. Market capitalization is the latest provider value.; The reported balance does not establish unrestricted availability or liquidation value.; The two are measured on different dates — the balance sheet is a quarter-end, the market cap is a recent close.; Debt is total debt as reported, including operating lease liabilities where the filer includes them. | 2026-06-30 | COMPUTED | Computed from the balance sheet and the latest market capitalization |
| Trailing twelve-month ratio set | Quick ratio: 0.77; Current ratio: 0.77; Debt to equity: 7.15; Net margin: 23.3%; Gross margin: 80.8%; Operating margin: 62.2%; Return on assets: 8.8%; Return on equity: 69% Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. A ratio our provider could not compute is absent rather than shown as zero. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm |
| Distress and quality screens | Altman Z-score: 2.43; Piotroski F-score: 7 Altman Z below 1.8 is the conventional distress zone. For a company holding large cash against negative retained earnings the score mostly reflects the retained-earnings term. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) financial scores |
| Next earnings report | Date: 2026-11-02; EPS estimate: $0.74 per share; Revenue estimate: $411.28M The date is our provider's estimate until the company confirms it. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) earnings calendar |
| Analyst revenue and earnings estimates (average) | Captured record · 4 entries
| 2026-09-12 | FMP | Financial Modeling Prep (FMP) analyst estimates |
Data provided for informational purposes only.
ETFs that hold HESM
Funds in our ETF coverage that list HESM among the top 10 holdings on their fund page, largest weight first. Each weight is the fund's reported holding weight as of the date in its row.
| ETF | Weight | Holdings as of |
|---|---|---|
| BKGI ETF | 6.76% |