HESM Stock — Hess Midstream LP

Up next

Next earnings call

Nov 2, 2026 Est · unconfirmed · in 4 wks

Latest filing: 10-Q

filed Aug 6, 2026

Q2 2026 earnings call transcript

call held Aug 3, 2026

Metrics snapshot

Useful current figures from the complete screener profile.

View all 115 metrics

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

View all 115 metrics

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.

AI-generated from the earnings call and 8-K · may contain errors · not investment advice

Equibles Rating

blended score · not investment advice

Overall

Neutral

SellHoldBuy

Technical Neutral Momentum Weak Sentiment Neutral Fundamentals Strong Quant / Vol Very Low

Market backdrop VIX 15.3 · calm Equity put/call 0.58

Technical

price trend

Neutral

50 / 200-day cross No cross

Price vs 200-day avg −1%

below

Price vs 50-day avg −5%

below

RSI (14) 37

neutral

MACD trend Negative

52-week position 65%

mid-range

Volume (OBV) Confirms

volume backs price

Momentum

relative strength

Weak

1-month return −5%

trailing

6-month return −1%

trailing

YTD return +9%

this year

Relative strength −14%

vs S&P · 6-mo

Sentiment

smart money

Neutral

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 61

elevated · 0–100

Fundamentals

Strong

Revenue growth +8%

Y/Y

Free cash flow $728.2M

Balance sheet $3.8B

net debt

Quant / Vol

risk profile

Very Low

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

what management promised — and delivered

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

1 · 6 · 0

50 / 200-day cross

No cross Neutral

Price vs 200-day avg

−1% Neutral

Price vs 50-day avg

−5% Neutral

RSI (14)

37 Neutral

MACD trend

Negative Bearish

52-week position

65% 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 · 65% Range high $41

vs 200-day avg -1% vs 50-day avg -5%

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

Open screener →

Company	Mkt cap	YTD	Rev growth Y/Y	P/E	Short % shares
HESM Hess Midstream LP this stock	$4.91B	+9.4%	+8.4%	—	5.7%
ENB Enbridge Inc	$102.08B	-3.9%	—	—	0.8%
WMB Williams Companies, Inc.	$84.72B	+17.4%	+13.8%	27.6	2.0%
EPD Enterprise Products Partners L.P.	$79.36B	+12.9%	-6.4%	12.7	0.8%
ET Energy Transfer LP	$69.52B	+24.1%	+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 section

Ownership

Institutional Holders

Holders

286

% held: 89.9%
Reported: 1 of 286
Top holder: ALPS ADVISORS INC

Held Float

View

Held by Funds

Fund positions

117

View

Short & Settlement

Short Interest Rising

Shares short

7.4M

Days to cover: 5.8d
Change: +907.3K sh

View

Short Volume

Short vol %

65%

As of: Oct 2, 2026

Short Total

View

Fails to Deliver

FTD shares

34

Value: $1.3K
As of: Aug 31, 2026

View

Off-Exchange

Off-exchange %

51.1%

Week of: Aug 24, 2026

Off-exch Lit

View

Financials

Revenue (FY)

$1.6B

Net income (FY): $352.9M

View

Filings

SEC Filings

Latest

10-Q

Filed: Aug 6, 2026
This year: 8

View

Proposed Sales

Value

$270.8K

Shares: 8.1K
Filed: Nov 7, 2025

View

Earnings & Events

Webcasts

Last webcast

Aug 3, 2026

View

Investor Relations

	5D	20D	120D	MTD	YTD
HESM	-1.3%	-5.3%	-1.5%	+1.0%	+9.4%
SPY	-0.2%	-0.5%	+12.2%	+0.9%	+12.9%
vs SPY	-1.1%	-4.8%	-13.6%	+0.1%	-3.4%

HESM · Hess Midstream LP

Price & Indicators

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Metrics snapshot

AI Brief

Equibles Rating

Guidance & track record

Technicals

Key metrics

Versus peers

At a glance

Performance