Hess Midstream LP Class A (HESM)

In July 2025, Chevron Corporation acquired the former Hess Corporation interest in Hess Midstream following a merger. Hess Midstream LP announced an accretive $100 million share repurchase in August 2025. On November 3, 2025, the company reported strong third-quarter 2025 results, with net income of $175.5 million. A quarterly cash distribution increase to $0.7548 per Class A share was announced on October 27, 2025. The stock experienced a decline, hitting a new 52-week low of $31.63 on October 14, 2025, and $31.64 on October 13, 2025. Executive and Board changes were announced on December 9, 2025. Hess Midstream LP provided its 2026 guidance and extended its return of capital program on December 9, 2025. On January 5, 2026, Raymond James downgraded Hess Midstream's stock from "Outperform" to "Market Perform". Over the past three months, revenue expectations for FY2025 were revised downward by 0.92%, while the stock price increased by 6.56% during the same period.

Hess Midstream LP's business model is structured to be largely insulated from the volatility of commodity prices, emphasizing throughput-driven revenues. The company benefits from long-term contracts that include minimum volume commitments (MVCs) extending through 2033, suggesting that the demand for Hess Midstream's products and services is less susceptible to typical seasonal fluctuations.

Hess Midstream LP (HESM) is a midstream energy company focused on owning, operating, developing, and acquiring midstream assets, providing fee-based services to Hess Corporation and third-party customers in the United States. The company operates through three segments: Gathering, which includes natural gas, crude oil, and produced water gathering systems; Processing and Storage, which encompasses the Tioga gas plant, an equity investment in the LM4 Joint Venture, and the Mentor storage terminal; and Terminaling and Export, which includes the Ramberg Terminal Facility, Tioga Rail Terminal, crude oil rail cars, and the Johnson's Corner Header System.

Hess Midstream LP's operational assets are primarily concentrated in the Bakken and Three Forks Shale plays, located within the Williston Basin area of North Dakota, United States.

Information directly detailing Hess Midstream LP's brand reputation is not readily available; however, the recent downgrade by Raymond James could indirectly influence investor perception.

Hess Midstream LP has significant institutional ownership, with 393 institutional owners and shareholders holding a total of 178,763,819 shares. Chevron Corporation beneficially owns 37.8% of the former Hess Corporation interest. Global Infrastructure Partners (GIP) completed a full exit of its position in May 2025.