HESM Stock - Hess Midstream LP
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $1.49B | $1.35B | $1.27B | $1.20B | $1.09B |
| Gross Profit | $1.29B | $1.15B | $1.09B | $1.04B | $934.70M |
| Gross Margin | 86.4% | 85.7% | 85.8% | 86.2% | 85.6% |
| Operating Income | $919.00M | $816.90M | $791.20M | $727.20M | $576.50M |
| Net Income | $223.10M | $118.60M | $83.90M | $46.40M | $24.00M |
| Net Margin | 15.0% | 8.8% | 6.6% | 3.9% | 2.2% |
| EPS | $2.51 | $2.11 | $2.03 | $1.81 | $1.33 |
Hess Midstream LP owns, develops, operates, and acquires midstream assets. The company operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression; crude oil gathering systems; and produced water gathering and disposal facilities. Its gathering systems consists of approximately 1,350 miles of high and low pressure natural gas and natural gas liquids gathering pipelines with capacity of approximately 450 million cubic feet per day; and crude oil gathering system comprises approximately 550 miles of crude oil gathering pipelines. The Processing and Storage segment comprises Tioga Gas Plant, a natural gas processing and fractionation plant located in Tioga, North Dakota; a 50% interest in the Little Missouri 4 gas processing plant located in south of the Missouri River in McKenzie County, North Dakota; and Mentor Storage Terminal, a propane storage cavern and rail, and truck loading and unloading facility located in Mentor, Minnesota. The Terminaling and Export segment owns Ramberg terminal facility; Tioga rail terminal; and crude oil rail cars, as well as Johnson's Corner Header System, a crude oil pipeline header system. Hess Midstream LP was founded in 2014 and is based in Houston, Texas.
Visit WebsiteRating Distribution
Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| September 30th 2025 | Goldman | Resumed | Neutral | $36 |
| September 19th 2025 | Wells Fargo | Downgrade | Equal Weight | $39 |
| September 10th 2025 | UBS | Downgrade | Neutral | $43 |
| July 25th 2025 | Wells Fargo | Upgrade | Overweight | $47 |
| July 25th 2025 | Morgan Stanley | Resumed | Equal Weight | $48 |
| March 8th 2024 | JP Morgan | Downgrade | Neutral | $37 |
| October 6th 2023 | Goldman | Resumed | Buy | $32 |
| May 10th 2023 | UBS | Initiation | Buy | $37 |
| April 21st 2023 | Raymond James | Initiation | Outperform | $35 |
| December 9th 2022 | Citigroup | Initiation | Buy | $34 |
Earnings History & Surprises
HESMEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 28, 2026 | — | — | — | — |
Q1 2026 | Feb 4, 2026 | $0.74 | — | — | — |
Q4 2025 | Nov 3, 2025 | $0.73 | $0.75 | +2.7% | ✓ BEAT |
Q3 2025 | Jul 30, 2025 | $0.56 | $0.74 | +32.1% | ✓ BEAT |
Q2 2025 | Apr 30, 2025 | $0.62 | $0.65 | +5.2% | ✓ BEAT |
Q1 2025 | Jan 29, 2025 | $0.65 | $0.68 | +4.6% | ✓ BEAT |
Q4 2024 | Oct 30, 2024 | $0.66 | $0.63 | -4.5% | ✗ MISS |
Q3 2024 | Jul 31, 2024 | $0.63 | $0.59 | -6.3% | ✗ MISS |
Q2 2024 | Apr 25, 2024 | $0.63 | $0.59 | -6.3% | ✗ MISS |
Q1 2024 | Jan 31, 2024 | $0.63 | $0.55 | -12.7% | ✗ MISS |
Q4 2023 | Oct 25, 2023 | $0.55 | $0.57 | +3.6% | ✓ BEAT |
Q3 2023 | Jul 26, 2023 | $0.48 | $0.50 | +4.2% | ✓ BEAT |
Q2 2023 | Apr 26, 2023 | $0.55 | $0.47 | -14.5% | ✗ MISS |
Q1 2023 | Jan 25, 2023 | $0.54 | $0.49 | -9.3% | ✗ MISS |
Q4 2022 | Oct 26, 2022 | $0.53 | $0.53 | 0.0% | = MET |
Q3 2022 | Jul 27, 2022 | $0.49 | $0.50 | +2.0% | ✓ BEAT |
Q2 2022 | Apr 27, 2022 | $0.49 | $0.49 | 0.0% | = MET |
Q1 2022 | Jan 26, 2022 | $0.59 | $0.51 | -13.6% | ✗ MISS |
Q4 2021 | Oct 27, 2021 | $0.38 | $0.38 | 0.0% | = MET |
Q3 2021 | Jul 28, 2021 | $0.43 | $0.44 | +2.3% | ✓ BEAT |
Latest News
Hess Midstream Forecasts $650M–$700M Net Income, $1.25B Adjusted EBITDA, $850M–$900M Adjusted Free Cash Flow For 2026
📈 PositiveHess Midstream Q3 EPS $0.75 Beats $0.60 Estimate, Sales $420.900M Miss $420.960M Estimate
📈 PositiveHess Midstream LP Announces Quarterly Dividend Increase From $0.74 Per Share to $0.7548 Per Share
📈 PositiveRaymond James Reiterates Outperform on Hess Midstream, Lowers Price Target to $35
➖ NeutralGoldman Sachs Reinstates Neutral on Hess Midstream, Announces $36 Price Target
➖ NeutralCitigroup Maintains Neutral on Hess Midstream, Lowers Price Target to $37
➖ NeutralHess Midstream shares are trading lower after the company upgraded its FY25 gas gathering volumes guidance. Also, Wells Fargo downgraded the stock from Overweight to Equal-Weight and lowered its price target from $48 to $39.
📉 NegativeWells Fargo Downgrades Hess Midstream to Equal-Weight, Lowers Price Target to $39
📉 NegativeHess Midstream LP Now Sees 2025 FY Gas Gathering Volumes 455-465 Million cubic Feet Of Natural Gas Per Day
📈 PositiveCitigroup Downgrades Hess Midstream to Neutral, Lowers Price Target to $41
📉 NegativeUBS Downgrades Hess Midstream to Neutral, Lowers Price Target to $43
➖ NeutralJP Morgan Maintains Neutral on Hess Midstream, Raises Price Target to $46
➖ NeutralFrequently Asked Questions about HESM
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