HESM · Hess Midstream LP
Market Cap
$4.91B
Shares
128.35M
Volume · Oct 2
1.24M
Avg daily vol (3M)
1.21M
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$38.05
Open$37.20
Day$36.96–38.08
52W close$31.74–40.97
Avg vol 30d1.4M
Short int7.4M · 5.7% float · 5.8d
Short vol65%
Last earningsAug 3, 2026
DataJan 2020–Oct 2026
Filing10-Q · Aug 6
Up next
Next earnings call
Nov 2, 2026
Est · unconfirmed
· in 4 wks
filed Aug 6, 2026
call held Aug 3, 2026
Metrics snapshot
Useful current figures from the complete screener profile.
Revenue (TTM)
—
Trailing 12 months
Net income (TTM)
—
Trailing 12 months
Revenue growth YoY
—
Year over year
Operating margin
—
Trailing 12 months
P / E (TTM)
—
Trailing earnings
FCF yield
—
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
—
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
—
Year over year · more shares
Price change (1Y)
+9.8%
Trailing year
Short interest
5.7%
Latest settlement · 5.8 days to cover
AI Brief
Q2 FY26 earnings call · Aug 3, 2026
Q2 FY26
TL;DR. Hess Midstream reported Q2 2026 net income of $173.7 million and Adjusted EBITDA of $313.7 million, increased its quarterly distribution by $0.0096 per Class A share, and reaffirmed full-year 2026 guidance including $910–$960 million of Adjusted Free Cash Flow, though year-over-year oil and water throughput volumes declined.
Bullish
- + Quarterly cash distribution increased to $0.7888 per Class A share, up $0.0096 sequentially, continuing targeted 5% annual distribution growth.
- + Adjusted EBITDA margin reached 85%, well above the 75% long-term target, reflecting strong operating leverage.
- + Revolver balance was paid down by approximately $87 million sequentially, supporting balance sheet strength and continued de-leveraging.
- + Capital expenditures fell to $30.6 million in Q2 2026, down 56% year-over-year, supporting higher Adjusted Free Cash Flow generation.
- + Full-year 2026 Adjusted Free Cash Flow guidance of $910–$960 million was reaffirmed, representing a 20% year-over-year increase at the midpoint, with ~$280 million of excess cash flow for shareholder returns and debt repayment.
Bearish
- − Oil terminaling and water gathering throughput volumes declined 15% and 12% year-over-year, respectively, due to lower new-well activity.
- − Gas processing throughput volumes declined 4% year-over-year due to planned TGP maintenance.
- − Q3 2026 Adjusted Free Cash Flow is expected to decline sequentially as higher Q3 capital expenditures are projected.
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Neutral
SellHoldBuy
Technical
Neutral
Momentum
Weak
Sentiment
Neutral
Fundamentals
Strong
Quant / Vol
Very Low
Market backdrop
VIX 15.3 · calm
Equity put/call 0.57
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−0%
below
Price vs 50-day avg
−4%
below
RSI (14)
39
neutral
MACD trend
Negative
52-week position
68%
mid-range
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
−5%
trailing
6-month return
−4%
trailing
YTD return
+10%
this year
Relative strength
−16%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $40 › 200d $38 — 50d above 200d
Institutional flow
Flat
1 of 286 funds reported for Sep 30 · net 0 sh shares
Insider flow
Flat
No net insider activity over 90 days
Short interest
Rising
5.74% of float · ▲ +14.0% MoM · 5.8 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
286 holders — near 3-yr high, broad support
Squeeze score
62
elevated · 0–100
Fundamentals
Revenue growth
+8%
Y/Y
Free cash flow
$728.2M
Balance sheet
$3.8B
net debt
Quant / Vol
risk profile
Volatility
20%
annualized · 1-yr
Max drawdown
−10%
past year
ATR
2.2%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the Earnings Call filed Aug 3, 2026
full year 2026
Adjusted free cash flow
Initiated
$910M – $960M
third quarter of 2026
Net income
Initiated
$165M – $175M
Adjusted EBITDA
Initiated
$310M – $320M
full year of 2026
Adjusted EBITDA
Initiated
$1.23B – $1.28B
Net income
Initiated
$650M – $700M
Excess adjusted free cash flow
Initiated
$280M
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Neutral
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−0%
Neutral
Price vs 50-day avg
−4%
Neutral
RSI (14)
39
Neutral
MACD trend
Negative
Bearish
52-week position
68%
Neutral
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Mixed
Trend (MA cross)
No cross
50d $40 › 200d $38 — 50d above 200d
Institutional flow
Flat
1 of 286 funds reported for Sep 30 · net 0 sh shares
Insider flow
Flat
No net insider activity over 90 days
Short interest
Rising
5.74% of float · ▲ +14.0% MoM · 5.8 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
286 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $32
Now $38 · 68%
Range high $41
vs 200-day avg 0%
vs 50-day avg -4%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Oil & Gas Midstream — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
HESM
this stock
Hess Midstream LP
|
$4.91B | +10.3% | +8.4% | — | 5.7% |
|
ENB
Enbridge Inc
|
$102.08B | -3.3% | — | — | 0.8% |
|
WMB
Williams Companies, Inc.
|
$84.72B | +15.2% | +13.8% | 27.6 | 2.0% |
|
EPD
Enterprise Products Partners L.P.
|
$79.36B | +11.3% | -6.4% | 12.7 | 0.8% |
|
ET
Energy Transfer LP
|
$69.52B | +21.9% | +3.5% | — | 0.9% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| HESM | -1.1% | -5.0% | -3.8% | +1.8% | +10.3% |
| SPY | -0.4% | -0.2% | +12.4% | +0.2% | +12.0% |
| vs SPY | -0.7% | -4.8% | -16.3% | +1.6% | -1.8% |