Hess Midstream LP (HESM) Stock Price & Analysis
Hess Midstream LP (HESM) closed at USD 30.04 on Thursday, October 22, 2026, down 3.32% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 31.07; the Oct 22, 2026 session ranged USD 29.52–31.2 on volume of 4,507,888 shares. Market capitalization is $6.19B, with a 52-week range of USD 29.52–41.44 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 10:11 UTC.
Also available as compact Markdown for AI agents: nexqual.com/HESM.md
Key facts (HESM)
- Last four reported quarters (through Jun 30, 2026): revenue $1.61B, net income $375M (23.2% margin), free cash flow $838M (SEC filings).
- Valuation: P/E 16.5x, EV/EBITDA 8.1x, net debt $3.67B.
- Analysts: Sell (mean 3.57 on a 1–5 scale) (7 analysts), mean target USD 33.67 (range 30–40).
- Total return with dividends: 1Y -3.1% vs S&P 500 +14.9%; 5Y +66.6% vs S&P 500 +80.3%.
- Next earnings: 2026-11-02, EPS estimate USD 0.71, revenue estimate $411M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (HESM)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.20B | $1.28B | $1.35B | $1.50B | $1.62B | $1.61B |
| Operating income | $727M | $791M | $817M | $919M | $1.01B | $1.00B |
| Net income | $46.4M | $83.9M | $119M | $223M | $353M | $375M |
| Free cash flow | $632M | $623M | $643M | $634M | $728M | $838M |
| Operating margin | 60.4% | 62.0% | 60.6% | 61.5% | 62.2% | 62.1% |
| Net margin | 3.9% | 6.6% | 8.8% | 14.9% | 21.8% | 23.2% |
| Revenue growth | +10.2% | +5.9% | +5.8% | +10.9% | +8.4% | — |
| Cash + short-term investments | $2.2M | $3.1M | $5.4M | $4.3M | $1.9M | — |
| Total debt | $2.56B | $2.89B | $3.21B | $3.47B | $3.77B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (HESM)
P/E 16.5x · P/S 3.8x · EV/EBITDA 8.1x · EV/Sales 6.1x · P/FCF 7.4x · FCF yield 13.53% · Earnings yield 6.05% · Buyback yield (TTM) 2.58% · Net debt $3.67B · EV $9.87B
Analysts (HESM)
Consensus Sell (mean 3.57 on a 1–5 scale), 7 analysts; mean target USD 33.67 (low 30, high 40).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | Citigroup | Target lowered | Neutral | $37 → $33 |
| 2026-10-13 | UBS | Target lowered | Neutral | $37 → $34 |
| 2026-10-13 | Morgan Stanley | Target lowered | Underweight | $39 → $30 |
| 2026-10-02 | JP Morgan | Downgrade | Neutral → Underweight | $39 |
Total return (dividends reinvested) (HESM)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -3.1% | +66.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -3.1% | +10.7% |
| Volatility (annualized) | 26.7% | 26.5% |
| Max drawdown | -26.7% (Sep 2026→Oct 2026) | -25.9% (Aug 2026→Oct 2026) |
HESM analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.71 | $0.71 | +0.0% | $410.5M | 4 |
| Next quarter (ends Dec 2026) | $0.83 | $0.73 | +13.6% | $410.5M | 4 |
| Current fiscal year (ends Dec 2026) | $3.14 | $2.73 | +14.8% | $1.61B | 2 |
| Next fiscal year (ends Dec 2027) | $2.80 | $2.91 | -3.7% | $1.45B | 4 |
HESM options: expected move
Options price a move of about ±7.5% (±$2.25) by Nov 20, 2026, which includes earnings on Nov 2, 2026.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 30.8% | ±7.5% |
| Dec 18, 2026 | 56 | 30.3% | ±9.7% |
| Feb 19, 2027 | 119 | 31.0% | ±14.8% |
| May 21, 2027 | 210 | 29.9% | ±18.6% |
30-day implied volatility 31.4% vs 52.1% realized over the last 30 trading days. Put/call ratio (volume) 4.63. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 10:11 UTC)
| Price | USD 30.04 |
|---|---|
| Change | ▼ 3.32% (down) |
| Previous Close | USD 31.07 |
| Open | USD 31.05 |
| Day Range | USD 29.52 – 31.2 |
| 52-Week Range | USD 29.52 – 41.44 |
| Volume | 4,507,888 shares |
| Market Cap | $6.19B |
| Exchange | NYQ |
Technical Analysis (HESM)
Nexqual's technical model rates HESM "SELL" based on 2 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 10:11 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 24.98 (oversold) |
| vs SMA50 | Below (USD 37.49) |
| MACD | -2.32 (negative) |
Analyst Ratings (HESM)
Wall Street analysts rate HESM "Sell" based on 7 analysts, with a mean price target of USD 33.67 (range USD 30–40), per Nexqual as of October 23, 2026 at 10:11 UTC.
| Consensus Rating | Sell |
|---|---|
| Analyst Count | 7 |
| Mean Target | USD 33.67 |
| High Target | USD 40 |
| Low Target | USD 30 |
| Buy / Hold / Sell | 0 / 4 / 3 |
Earnings (HESM)
| Next Earnings Date | 2026-11-02 |
|---|---|
| EPS Estimate | USD 0.73 |
| Revenue Estimate | $410.52M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.75 vs est 0.66 ▲ beat |
| 2026-03-31 | USD 0.68 vs est 0.65 ▲ beat |
| 2025-12-31 | USD 0.72 vs est 0.66 ▲ beat |
| 2025-09-30 | USD 0.75 vs est 0.69 ▲ beat |
Source: Nexqual, October 23, 2026 at 10:11 UTC.
Financials & Fundamentals (HESM)
| Total Revenue | $1.61B |
|---|---|
| Revenue Growth (latest quarter, YoY) | -3.70% |
| Gross Margin | +77.55% |
| Operating Margin | +63.46% |
| Profit Margin | +23.23% |
| ROE | +150.71% |
| Debt / Equity | 9.48 |
| Current Ratio | 0.77 |
| Total Cash | $5.00M |
| Total Debt | $3.68B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $837.80M (51.9% of revenue) |
Source: Nexqual, October 23, 2026 at 10:11 UTC.
Financial Health Score (HESM)
Nexqual rates Hess Midstream LP's overall financial health "Solid" across five dimensions, as of October 23, 2026 at 10:11 UTC.
| Growth | Solid — Revenue +8% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 78%, operating 63% (last 12 months) |
| Balance Sheet | Critical — $5M cash and investments vs $3.68B debt (Jun 2026, SEC) |
| Cash Flow | Strong — FCF $838M (last 4 quarters to Jun 2026, SEC), 52% margin |
| Efficiency | Strong — ROE 151%, ROA 14.4% |
Ownership (HESM)
| Insider Ownership | +0.86% |
|---|---|
| Institutional Ownership | +89.77% |
| Shares Outstanding | 128.35M |
| Float | 127.59M |
| Short % of Float | +7.90% |
Source: Nexqual, October 23, 2026 at 10:11 UTC.
Leadership (HESM)
Hess Midstream LP is led by Jonathan C. Stein, Chief Executive Officer of Hess Midstream GP LLC, per Nexqual as of October 23, 2026 at 10:11 UTC.
| Chief Executive Officer of Hess Midstream GP LLC | Jonathan C. Stein |
|---|---|
| President & Chief Operating Officer of Hess Midstream GP LLC | Michael S. Bast |
| Chief Financial Officer of Hess Midstream GP LLC | Michael James Chadwick |
| Vice President of Investor Relations of Hess Midstream GP LLC | Jennifer Gordon |
Major Backers & Investors (HESM)
Notable institutional backers of Hess Midstream LP include ALPS ETF TRUST-ALERIAN MLP ETF, Alps Advisors Inc., Goldman Sachs, according to Nexqual as of October 23, 2026 at 10:11 UTC.
Active Investors
| Investor | Stake |
|---|---|
| ALPS ETF TRUST-ALERIAN MLP ETF | 24.05% |
| Alps Advisors Inc. | 22.79% |
| Goldman Sachs | 6.54% |
| Invesco | 5.87% |
| Mirae Asset Global ETFs Holdings Ltd. | 5.5% |
| GLOBAL X FUNDS-Global X MLP ETF | 5.32% |
| AIM Investment Fd.s -Invesco SteelPath MLP Income Fd. | 5.22% |
| Blackstone Inc | 4.51% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BNY Mellon | 3.68% |
Source: Nexqual, October 23, 2026 at 10:11 UTC.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| PAGP | Plains GP Holdings, L.P. | USD 27.93 | ▲ 0.04% |
| SOBO | South Bow Corporation | USD 34.57 | ▼ 0.52% |
| INSW | International Seaways, Inc. | USD 108.42 | ▼ 2.46% |
| CMBT | CMB.TECH NV | USD 18.08 | ▼ 1.42% |
| GLNG | Golar LNG Limited | USD 44.03 | ▼ 2.13% |
| KNTK | Kinetik Holdings Inc. | USD 54.64 | ▼ 1.89% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:11 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt