Hess Midstream LP
HESMNYSE
$40.34
↑ +0.6%Jul 17 close · end-of-day
Price
1Y↑ +14.7%
End-of-day closes; the latest point is the live 15-min-delayed price · split & dividend adjusted · chart by TradingView
Key statistics
Market Cap
$5.2B
Enterprise Value
$8.9B
P/E
—
P/S
3.2
P/B
—
EV/EBITDA
7.3
PEG
—
FCF Yield
15.4%
Dividend Yield
—
Revenue (TTM)
$1.6B
Net Income (TTM)
$368.9M
Free Cash Flow (TTM)
$795.8M
Gross Margin
—
Operating Margin
61.9%
Net Margin
22.6%
ROE
—
ROIC
—
Debt / Equity
—
Net Cash
-$3.8B
Return 1Y
+14.0%
Company profile
Hess Midstream LP owns, develops, operates, and acquires midstream assets. The Gathering segment owns natural gas gathering and compression; crude oil gathering systems; and produced water gathering and disposal facilities. The Processing and Storage segment owns Tioga Gas Plant, a natural gas processing and fractionation plant located in Tioga, North Dakota. The Terminaling and Export segment owns Ramberg terminal facility; Tioga rail terminal; and crude oil rail cars.
- CEO
- John B. Hess
- Sector
- Mining
- Industry
- Petroleum And Natural Gas
- Employees
- 200
- Headquarters
- Texas
- Website
- hessmidstream.com
Management & directors
- Bast Michael ScottPresident and COO
- Stein Jonathan C.Chief Executive Officer
- Gatling John A.President and COO
Roles derived from SEC Form 4 filings.
Earnings
HESM Q1 2026 Earnings
Period ends 2026-03-31
MetricActualYoY
Revenue$390.1M↑ +2.1%
Diluted EPS——
Actuals from SEC filings; YoY vs the year-ago quarter. Analyst estimates & surprise require a data feed (coming soon).
Financial statements
| Line item | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $1.1B | $1.2B | $1.3B | $1.3B | $1.5B | $1.6B |
| Gross profit | — | — | — | — | — | — |
| Operating income | $576.5M | $727.2M | $791.2M | $816.9M | $919.0M | $1.0B |
| Net income | $24.0M | $46.4M | $83.9M | $118.6M | $223.1M | $352.9M |
| Diluted EPS | — | — | — | — | — | — |
| Operating cash flow | $641.7M | $795.5M | $861.1M | $866.4M | $940.3M | $983.8M |
| Free cash flow | $340.6M | $632.3M | $622.9M | $642.9M | $634.2M | $728.2M |
| Gross margin | — | — | — | — | — | — |
| Operating margin | 52.8% | 60.4% | 62.0% | 60.6% | 61.5% | 62.2% |
| Net margin | 2.2% | 3.9% | 6.6% | 8.8% | 14.9% | 21.8% |
| Line item | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $365.5M | $378.5M | $395.9M | $382.0M | $414.2M | $420.9M | $404.2M | $390.1M |
| Gross profit | — | — | — | — | — | — | — | — |
| Operating income | $222.3M | $231.7M | $243.0M | $237.4M | $260.2M | $258.9M | $251.6M | $238.1M |
| Net income | $49.5M | $58.6M | $70.4M | $71.6M | $90.3M | $97.7M | $93.3M | $87.6M |
| Diluted EPS | — | — | — | — | — | — | — | — |
| Operating cash flow | $271.6M | $224.9M | $258.5M | $202.4M | $276.9M | $258.9M | $245.6M | $253.3M |
| Free cash flow | $207.7M | $132.6M | $163.4M | $156.9M | $213.5M | $178.9M | $178.9M | $224.5M |
| Gross margin | — | — | — | — | — | — | — | — |
| Operating margin | 60.8% | 61.2% | 61.4% | 62.1% | 62.8% | 61.5% | 62.2% | 61.0% |
| Net margin | 13.5% | 15.5% | 17.8% | 18.7% | 21.8% | 23.2% | 23.1% | 22.5% |
Company news
Jul 20, 2026
Analyst estimates
Coming soonConsensus revenue & EPS estimates and price targets will appear here once a forward-estimates data feed is connected.
Insider transactions
BoughtSoldMonthly insider $ volume · trailing 12 months
| Date | Insider | Type | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| 2026-03-08 | Stein Jonathan C.· Chief Executive Officer | Tax withholding | 1,048 | $38.92 | $40,788.16 | filing |
| 2026-03-08 | Bast Michael Scott· President and COO | Tax withholding | 344 | $38.92 | $13,388.48 | filing |
| 2026-03-08 | Bast Michael Scott· President and COO | Tax withholding | 308 | $38.92 | $11,987.36 | filing |
| 2026-03-08 | Bast Michael Scott· President and COO | Tax withholding | 241 | $38.92 | $9,379.72 | filing |
| 2026-03-08 | Bast Michael Scott· President and COO | Option exercise | 1,189 | $0.00 | $0.00 | filing |
| 2026-03-08 | Bast Michael Scott· President and COO | Option exercise | 929 | $0.00 | $0.00 | filing |
| 2026-03-08 | NIEMIEC DAVID W | Option exercise | 1,612 | $0.00 | $0.00 | filing |
| 2026-03-08 | Stein Jonathan C.· Chief Executive Officer | Option exercise | 2,066 | $0.00 | $0.00 | filing |
| 2026-03-08 | REDDY J PATRICK | Option exercise | 1,612 | $0.00 | $0.00 | filing |
| 2026-03-08 | Letwin Stephen J J | Option exercise | 1,612 | $0.00 | $0.00 | filing |
| 2026-03-08 | Bast Michael Scott· President and COO | Option exercise | 1,327 | $0.00 | $0.00 | filing |
| 2026-03-04 | CHEVRON CORP | J | 455,811 | $0.00 | $0.00 | filing |
| 2025-09-26 | Gatling John A.· President and COO | Option exercise | 2,948 | $0.00 | $0.00 | filing |
| 2025-09-26 | Gatling John A.· President and COO | Option exercise | 4,757 | $0.00 | $0.00 | filing |
| 2025-09-26 | Gatling John A.· President and COO | Option exercise | 6,199 | $0.00 | $0.00 | filing |
| 2025-08-12 | Gatling John A.· President and COO | Sale | 62,457 | $41.59 | $2.6M | filing |
| 2025-08-08 | CHEVRON CORP | J | 695,894 | $0.00 | $0.00 | filing |
Latest 17 transactions.
Fundamentals & filings from SEC EDGAR. Prices adjusted for splits & dividends. Not investment advice.