Hess Midstream LP - Class A
Research Hess Midstream LP - Class A (HESM) on Bullrun: valuation model: 6.8% undervalued, market cap USD 4.14B, P/E 11.1, dividend yield 9.5%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerHESM
- ExchangeNYSE
- CountryUnited States
- SectorEnergy
- IndustryOil & Gas Midstream
- CurrencyUSD
- Valuation signal6.8% undervalued
- Market capUSD 4.14B
- P/E11.1
- Dividend yield9.5%
- Financial periodQ2 2026
- RevenueUSD 397.70M
- Net incomeUSD 96.40M
- Free cash flowUSD 255.50M
- Gross margin86.3%
Valuation Snapshot
Bullrun's latest valuation model marks Hess Midstream LP - Class A as 6.8% undervalued; latest market cap is USD 4.14B; P/E is 11.1; dividend yield is 9.5%.
Peer valuation comparison
Latest P/E is 11.13x versus a Energy sector median of 15.51x (28.3% below).
Latest dividend yield is 9.54% versus a Energy sector median of 3.62% (163.5% above).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 1.62B | USD 352.90M | USD 728.20M | 86.5% | 2.86 | USD 1.90M | USD 3.77B | USD 0 |
| FY2024 | USD 1.50B | USD 223.10M | USD 634.20M | 86.2% | 2.49 | USD 4.30M | USD 3.47B | USD 0 |
| FY2023 | USD 1.35B | USD 118.60M | USD 642.90M | 85.5% | 2.08 | USD 5.40M | USD 3.21B | USD 0 |
| FY2022 | USD 1.28B | USD 83.90M | USD 622.90M | 85.6% | 2.01 | USD 3.10M | USD 2.89B | USD 0 |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-10-09 | USD 4.14B | 11.1 | 9.6% | 3.09 |
| 2025 | 2025-12-31 | USD 4.46B | 12.1 | 8.4% | 2.91 |
| 2024 | 2024-12-31 | USD 3.85B | 14.9 | 7.1% | 2.64 |
| 2023 | 2023-12-29 | USD 2.16B | 15.6 | 7.5% | 2.38 |
| 2022 | 2022-12-30 | USD 1.32B | 14.7 | 7.3% | 2.19 |
| 2021 | 2021-12-31 | USD 930.36M | 15.4 | 6.9% | 1.91 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 3.09 USD, yield 9.5%.
| Year | Dividends/share |
|---|---|
| FY2025 | 2.91 USD |
| FY2024 | 2.64 USD |
| FY2023 | 2.38 USD |
| FY2022 | 2.19 USD |
About Hess Midstream LP - Class A
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.
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Frequently asked questions
Is Hess Midstream LP - Class A overvalued or undervalued?
Bullrun's valuation model currently marks Hess Midstream LP - Class A as 6.8% undervalued.
What is Hess Midstream LP - Class A's market cap?
Hess Midstream LP - Class A's market capitalization is USD 4.14B.
What is Hess Midstream LP - Class A's P/E ratio?
Hess Midstream LP - Class A's price-to-earnings (P/E) ratio is 11.1.
Does Hess Midstream LP - Class A pay a dividend?
Hess Midstream LP - Class A has a dividend yield of 9.5%.
What does Hess Midstream LP - Class A do?
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.