Revenue
$1.61B
Operating income
$1B
Free cash flow
$838M
Trailing 12 months · Q3 25 – Q2 26
Overview
About Hess Midstream LP
Hess Midstream LP acquires, owns, operates, and develops midstream assets and provide fee-based services to sponsor, its subsidiaries, and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities. Its gathering system consists of approximately 1,430 miles of high- and low-pressure natural gas and natural gas liquids gathering pipelines with capacity of approximately 685 million cubic feet per day; crude oil gathering system comprises approximately 615 miles of crude oil gathering pipelines; and produces water gathering system that includes approximately 360 miles of pipelines in gathering systems. The Processing and Storage segment comprises Tioga Gas Plant, a natural gas processing and fractionation plant located in Tioga, North Dakota; Mentor Storage Terminal, a propane storage cavern and rail, and truck loading and unloading facility located in Mentor, Minnesota; and Terminaling and Export segment that owns Ramberg terminal facility, the Tioga rail terminal, crude oil rail cars, and other Dakota access pipeline connections, as well as Johnson's Corner Header System, a crude oil pipeline header system; and other DAPL connections. Hess Midstream LP was formerly known as Hess Midstream Partners LP and changed its name to Hess Midstream LP in December 2019. Hess Midstream LP was founded in 2014 and is based in Houston, Texas.
Leadership
- Jonathan C. SteinChief Executive Officer
- Michael J. ChadwickChief Financial Officer
- Michael S. BastPresident and Chief Operating Officer
- Michael Scott BastPresident and Chief Operating Officer
- Kristi H. McCarthyChair of the Board
- Employees
- 0
- Business address
- HOUSTON, TX
- Fiscal year ends
- December 31
- Listed
- NYSE · HESM
Share price
Daily closing price. The header shows the latest close, the market cap at that close and the change over the selected range. Hover or tap the chart to read any day.
$38.41
+$4.00 (+11.62%)past year
- Market cap
- $4.93B
- At close
- Oct 5, 2026
Share price vs index
Hess Midstream LP's share price and the index, each as its percentage change since the first day of the selected range. The shading shows the gap: green while Hess Midstream LP is ahead, orange while it is behind. The values at the end are each one's change over the range.
Valuation
Market cap divided by trailing 12 months net income (P/E) and revenue (P/S), using the four quarters reported by each day. Turn a series off in the key and the chart rescales to the other.
Revenue mix
Revenue by segment
Q2 26
Revenue reported by each segment. The figure at the top of each column is total revenue. Where a company reports eliminations between segments, the columns show segment revenue before them; hover a column for the eliminations and the reported total. Switch to % to see each segment's share.
Revenue by product
Q2 26
Revenue reported for each product. The figure at the top of each column is the total of the products shown. Switch to % to see each product's share.
Segment growth
Q2 26
Each segment's revenue in the chosen period against the same period a year earlier (YoY), so seasonal swings cancel out, or against the quarter before (QoQ). A year is always compared with the year before. Hover or tap a line to bring it forward.
Product growth
Q2 26
Each product's revenue in the chosen period against the same period a year earlier (YoY), so seasonal swings cancel out, or against the quarter before (QoQ). A year is always compared with the year before. Hover or tap a line to bring it forward.
Income statement
Revenue, gross profit and net income
Q2 26
Revenue, gross profit and net income on one scale, so their sizes can be compared period by period.
Income statement
Q2 26
How revenue becomes net income in the chosen year or quarter. Solid bars are totals; hatched bars are the costs taken off between them.
TotalSubtracted
Operating leverage
Q2 26
Revenue growth against operating expense growth, each against the same quarter a year earlier. While revenue grows faster than opex, each extra dollar of sales keeps more profit.
Cash flow
Operating and free cash flow
Q2 26
Free cash flow is what is left of operating cash flow after capital expenditure. The gap between each pair of bars is that year's capex.
Cash flow statement
Q2 26
The reported movements behind the change in cash in the chosen year or quarter. Solid bars are totals; hatched bars are what was added or taken off between them.
TotalAddedSubtracted
Capital allocation
Q2 26
Operating cash flow above zero; what it was spent on below: capital expenditure, dividends and buybacks.
Stock-based compensation
Q2 26
Stock-based compensation reported in the cash flow statement each period. The line is that amount as a percentage of the same period's revenue.
Stock-based compensation% of revenue
Balance sheet
Net cash
Q2 26
Cash and short-term investments minus total debt at each quarter end. Below zero, the company owes more than it holds.
Net cashNet debt
War chest
Q2 26
Cash and short-term investments held at each quarter end. The figure at the top of each column is the total.