HESM Hess Midstream LP Class A Share representing a limited partner Interest

XNYS 31.07 Delayed
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Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading

Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.

HESM $31.07 —
Key stats
$31.07
Pre-market $30.21 -2.78%
52-Week Range
$29.85 – $41.44
YTD
-10.33%
IV Rank (30D)
100.0
Straddle Price
$2.58
P/C Vol Ratio
0.34
Market Cap
$3.9B
Open
$30.74
Day Range
$30.74 – $31.38
Volume
4,169,524
Prev Close
$30.67
Fair Value
MODEL: LONG

A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.

  • DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
  • Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
  • DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
  • P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
  • Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
  • Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
  • Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
  • Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
10-yr Treasury (rf)5.15%
Beta vs SPY0.71
Cost of Equity (CAPM)8.68% (VRP-adj)
WACC7.23%
Volatility Risk Premium+15.4pp (IV − HV30)
Effective Tax Rate14.9%
Rev. Growth (YoY, DCF input)-6.0%
DCF Horizon12 years explicit + fade
Free Cash Flow (TTM)$0.8B
Return on Equity (TTM)72.9%
Book / Price9.6%
Gross Margin (TTM)100.0%
FCF Margin (TTM)51.4%
Debt / Equity9.97
Quality Score4/6 — high quality (12y DCF)
SMA 50$37.69 (Market Anchor value)
SMA 20 / Bollinger Mid$34.49
Bollinger Width / SMA20114.5% (drives anchor stability)
Net Debt$3.7B
Market Cap$4B
Peers used for multiples: APA, COP, EPD, EQT, ET, MPLX, PBA, WES
60-Day Conviction
84%
20-Day Fair Value
≈ by Nov 20, 2026
$31.46
α +1.2% rank 39%
conviction
71%
40-Day Fair Value
≈ by Dec 21, 2026
$31.98
α +2.9% rank 32%
conviction
83%
60-Day Fair Value
≈ by Jan 19, 2027
$32.03
α +3.1% rank 38%
conviction
84%
MethodImplied PriceWeightDetail
DCF $50.80 17%
DDM (Gordon) $19.77 14%
Peer P/E $36.56 8% median 12.7× · 7 peers
Peer EV/EBITDA $46.83 8% median 7.8× · 7 peers
Peer P/B $7.85 2% median 2.6× · 7 peers
Peer P/S $35.78 5% median 2.8× · 7 peers
Market Anchor (SMA50) $37.69 29% stability 85% (BB-width)
Options Expected (B-L 30d) $30.73 17% 33 strikes · skew -1.33
As of 2026-10-22 · updated
About
Industry (SIC)
CRUDE PETROLEUM & NATURAL GAS (1311) · industry map
Exchange
XNYS
Market Cap
$3.9B
Employees
195
List Date
2017-04-05
CIK
0001789832
Next Earnings
2026-11-02 (Pre-Market)
EPS Forecast
$0.72 (3 est.)
Headquarters
Houston, TX
Homepage
https://www.hessmidstream.com

Hess Midstream LP is a fee-based, growth-oriented limited partnership that owns, operates, develops, and acquires a portfolio of midstream assets. The company provides fee-based services to Chevron Corporation and generates all of its revenue by charging fees for gathering, compressing, and processing natural gas, fractionating NGLs, gathering, terminaling, loading, and transporting crude oil and NGLs, storing and terminaling propane, and gathering and disposing of produced water. It operates through gathering, processing, and storage, and terminaling and export segments, with the gathering se…

Summary
—
composite
—
No summary data available for this symbol yet.

Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.

Chart
Seasonality
'21'22'23'24'25'26Avg
Jan8.75%5.12%4.08%6.59%7.77%2.37%5.78%
Feb-2.47%7.14%-7.86%-0.26%0.85%10.61%1.33%
Mar-0.36%-5.72%6.01%4.30%2.75%-1.57%0.90%
Apr-4.90%-2.62%-1.41%-5.15%-12.44%2.57%-3.99%
May14.11%11.50%-5.90%3.79%0.84%-1.63%3.79%
Jun1.41%-16.37%9.34%6.15%2.45%-0.84%0.36%
Jul2.50%8.06%1.13%1.93%14.67%8.16%6.08%
Aug0.08%-5.63%-8.31%1.08%-3.10%-1.37%-2.88%
Sep9.98%-10.68%-1.59%-3.53%-16.32%-7.11%-4.88%
Oct-9.98%11.22%5.89%-2.04%-2.02%-18.34%*-2.54%
Nov-4.66%7.25%10.45%9.51%-2.29%--4.05%
Dec15.12%-3.67%-3.39%0.16%2.56%--2.16%
Total29.64%0.91%6.33%23.75%-7.77%-9.77%7.18%
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $34.49
SMA 50: $37.69
SMA 200: $38.06
Current: $31.07
EMA 12: $32.28
EMA 26: $34.59
MACD: -2.3104 | Signal: -0.3158
BEARISH
ADX (14): 49.04
STRONG TREND
+DI: 10.35
−DI: 43.10

Momentum Oscillators

RSI (14): 28.19
OVERSOLD
Stoch %K: 8.96
Stoch %D: 7.89
Williams %R: -86.44

Volume & Volatility

BB Upper: $41.30
BB Lower: $27.68
NEUTRAL
OBV: 1,633,214
Vol SMA 20: 2,879,503
Vol ROC: -65.00%
ATR: $1.09
True Range: $0.71
HV 20: 62.9%
HV 30: 51.6%
HV 60: 39.3%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis

LLM Stock Analysis Report

Executive Summary

Overall assessment: NEUTRAL with a confidence level of 6/10.

Key drivers:

  • Recent positive news headlines on dividend stocks, which could benefit Hess Midstream LP (HESM)
  • Technical indicators showing a neutral RSI reading and a bullish MACD signal
  • Low volatility and stable beta relative to the market

Primary risks:

  • Negative sentiment surrounding recent pipeline stock sales by Cushing
  • Potential for increased competition in the energy sector

Investment thesis: HESM has a relatively stable price movement, driven by its dividend yield and low volatility. However, the recent negative news on pipeline stocks could impact investor sentiment.

Recent news sentiment impact: The recent positive headlines on dividend stocks have had a neutral to slightly positive impact on HESM's price movement.

Technical Analysis

Trend Direction: Medium-term uptrend (1-3 months)

Support/Resistance Levels:

  • Resistance: $41.03 (upper Bollinger Band)
  • Support: $39.28 (lower Bollinger Band), $37.02 (SMA 200)

Momentum Signals:

  • RSI interpretation: Neutral, reading 50.51
  • MACD signal: Bullish, with a bullish crossover above the signal line
  • Bollinger Bands position: Squeeze

News & Sentiment Analysis

Recent Headlines Summary: The recent news headlines have been mostly positive, focusing on dividend stocks and high-yield investments.

Sentiment Assessment: Positive sentiment dominates (4 out of 6 articles are positive).

Catalyst Identification: Upcoming earnings reports could provide additional insights into HESM's performance and future prospects.

Market Narrative: The recent news headlines align with the technical signals, indicating a potential uptrend.

Risk & Volatility Assessment

Beta Interpretation: Low risk relative to the market (beta -0.06).

Volatility Regime: Low volatility, with an IV rank of 0.8% and a current IV of 27.0%.

Options Market Signals:

  • IV rank: Low, indicating historically low volatility
  • Put/call ratios: Bullish sentiment dominates (290 calls vs 37 puts)
  • Unusual activity: No unusual options activity detected

Market Context & Positioning

Sector Performance: HESM is outperforming its sector peers in terms of dividend yield and price movement.

Institutional Activity: Low institutional interest, with a volume rate of change of 186.37%.

Correlation Analysis: Correlation with the market is low (R-squared interpretation).

Key Levels & Action Items

  • Critical Price Levels: Resistance at $41.03 and support at $39.28
  • Breakout/Breakdown Levels: Uptrend potential above $41.03, downtrend risk below $37.02
  • Time-Sensitive Catalysts: Upcoming earnings reports
  • Risk Management: Stop-loss levels at $38.91 and position sizing considerations

By analyzing the technical indicators, news sentiment, and options market signals, we conclude that HESM has a neutral to slightly positive trend direction in the medium term, driven by its dividend yield and low volatility. However, recent negative news on pipeline stocks could impact investor sentiment, and it is essential to monitor key levels and manage risk accordingly.

Generated
Earnings History
21 of 21 under expected move
Avg Expected Move
5.96%
Avg Actual Move
1.75%
Each row pairs the pre-earnings straddle-implied expected move with the realized close-to-close move. Sorted oldest first.
Earnings Date Timing Expected Move Actual Move Ratio Outcome
2021-04-28 Pre-Market 3.29% 1.93% 0.59x Within
2021-10-27 Pre-Market 8.67% 1.17% 0.13x Within
2022-01-26 Pre-Market 2.98% 1.90% 0.64x Within
2022-04-27 Pre-Market 11.19% 0.74% 0.07x Within
2022-07-27 Pre-Market 7.74% 1.52% 0.20x Within
2022-10-26 Pre-Market 9.30% 3.43% 0.37x Within
2023-01-25 Pre-Market 9.39% 3.11% 0.33x Within
2023-04-26 Pre-Market 1.26% 0.74% 0.59x Within
2023-07-26 Pre-Market 8.00% 2.07% 0.26x Within
2023-10-25 Pre-Market 5.31% 0.46% 0.09x Within
2024-01-31 Pre-Market 6.00% 0.97% 0.16x Within
2024-04-25 Pre-Market 4.43% 1.94% 0.44x Within
2024-07-31 Pre-Market 3.58% 0.64% 0.18x Within
2024-10-30 Pre-Market 4.81% 0.49% 0.10x Within
2025-01-29 Pre-Market 5.26% 2.03% 0.39x Within
2025-04-30 Pre-Market 6.04% 3.48% 0.58x Within
2025-07-30 Pre-Market 5.64% 3.47% 0.62x Within
2025-11-03 Pre-Market 6.04% 1.53% 0.25x Within
2026-02-02 Pre-Market 5.36% 1.41% 0.26x Within
2026-05-04 Pre-Market 4.85% 3.67% 0.76x Within
2026-08-03 Pre-Market 5.94% 0.15% 0.03x Within

Earnings calendar: this week’s reports with expected vs actual moves →

HESM Options Activity & IV Rank

HESM IV rank history, 52-week IV rank and IV percentile →

Volatility Metrics

Current IV: 36.2%
7-DTE IV: —
Expected Move: $2.58
7-DTE Move: $2.58
Days to Exp: 30 (2026-11-20)

Options Flow

Call Volume: 328
Put Volume: 111
P/C Volume: 0.338
BULLISH
Call OI: 3,906
Put OI: 5,710
P/C OI: 1.462
Total OI: 9,616

ATM Options Pricing

ATM Call: $1.20
ATM Put: $1.38
Call %: 3.9%
Put %: 4.4%

Chain Summary

Chain Volume: 2,120
Chain OI: 40,603
Last Updated: 10/21/2026
Spread Scanner GPU
Full Algorithm Docs ↗

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score (GPU scanner)

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Enter a ticker to scan for optimal spread opportunities.

Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.

Dealer Positioning
LOW γ vs HISTORY

Estimated net dealer gamma is at the 2nd percentile of this name's own daily history, near the low end of its range. This describes current positioning; it is not a forecast or a trading signal.

Gamma percentile
2%
vs own history
GEX tilt
-0.80
OI-weighted, today
Vanna tilt
+0.26
δ-sensitivity to IV
Charm tilt
+0.20
δ-decay vs time

Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.

Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.

Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.

This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.

· 39 ATM contracts, 22k total OI
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

  • Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
  • Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
  • Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
  • Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

  • Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
  • Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
  • Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
  • Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together

Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:

  • High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
  • Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
  • Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d —
— pts EXTREME
as of Oct 21 · No data
30 DTE / 10d 62%
+8.7 pts EXTREME
as of Oct 21 · ATM 36.3% / Wing 45.0%

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Enter a ticker to render the implied volatility surface.

Volatility Smile

Enter a ticker to render the implied volatility smile.

IV Rank (7 DTE)
IV Rank (30 DTE)100.0HighOct 21
Straddle Price (30 DTE)$2.58Oct 21
Beta Analysis

Risk Metrics

Beta: -0.1453
Alpha: -1.22%
Correlation: -0.0718
R-Squared: 0.5%
Stock Volatility: 25.7%
Market Volatility: 12.7%

Analysis Details

Benchmark: SPY
Data Points: 251
Period: 252 trading days
Interpretation:
Negative beta - stock moves opposite to market
Beta & Alpha Over Time
Notable investors who own HESM
5 of 37 tracked investors
InvestorValueShare of their portfolioRankQ/Q sharesSource
Millennium Management Hedge fund
Izzy Englander
$29.2M
0.02%
#899 of 3716+424.9%13F
Renaissance Technologies Hedge fund
Jim Simons
$18.7M
0.03%
#728 of 3138+40.1%13F
Citadel Hedge fund
Ken Griffin
$6.7M
0.00%
#1873 of 6285-35.4%13F
Bridgewater Associates Hedge fund
Ray Dalio
$5.6M
0.02%
#457 of 997+224.6%13F
Rockefeller Capital Management Family office
Rockefeller family
$1.1M
0.00%
#1655 of 4729+1.3%13F

Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions

HESM Institutional Ownership (13F)

Latest filings — 2026-09-30
Diluted shares outstanding: 126,100,000 (as of 2026-03-31)

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

  • Shares — long equity positions in this name, aggregated across share classes.
  • Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
  • % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
  • Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

297 filers117,085,080 shares$4.39B value92.85% of float
# Filer Shares Value % of Total % of Float Period
1 ALPS ADVISORS INC 29,254,074 $1.10B 25.03% 23.20% 2026-06-30
2 Goldman Sachs Group Inc Custodian 8,389,537 $315.45M 7.18% 6.65% 2026-06-30
3 Invesco Ltd. Custodian 7,535,978 $283.35M 6.45% 5.98% 2026-06-30
4 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 7,055,800 $265.30M 6.04% 5.60% 2026-06-30
5 Blackstone Inc. 5,786,130 $217.56M 4.95% 4.59% 2026-06-30
6 Bank of New York Mellon Corp Custodian 4,720,992 $177.51M 4.04% 3.74% 2026-06-30
7 TORTOISE CAPITAL ADVISORS, L.L.C. 4,236,214 $159.28M 3.62% 3.36% 2026-06-30
8 Neuberger Berman Group LLC 2,671,592 $100.44M 2.29% 2.12% 2026-06-30
9 TD Asset Management Inc 1,984,203 $74.61M 1.70% 1.57% 2026-06-30
10 UBS Group AG Custodian 1,974,398 $74.24M 1.69% 1.57% 2026-06-30
11 Epoch Investment Partners, Inc. 1,945,456 $73.15M 1.66% 1.54% 2026-06-30
12 JPMorgan Chase & Co Custodian 1,906,588 $71.19M 1.62% 1.51% 2026-06-30
13 Two Sigma Investments, LP Custodian 1,674,699 $62.97M 1.43% 1.33% 2026-06-30
14 ADAGE CAPITAL PARTNERS GP, L.L.C. 1,610,000 $60.54M 1.38% 1.28% 2026-06-30
15 MILLER HOWARD INVESTMENTS INC /NY 1,558,131 $58.59M 1.33% 1.24% 2026-06-30
16 CI INVESTMENTS INC. 1,285,671 $48.34M 1.10% 1.02% 2026-06-30
17 CIBC Private Wealth Group LLC 1,336,810 $46.12M 1.05% 1.06% 2025-12-31
18 FMR LLC Custodian 1,206,735 $45.37M 1.03% 0.96% 2026-06-30
19 WESTWOOD HOLDINGS GROUP INC 1,170,092 $44.00M 1.00% 0.93% 2026-06-30
20 Morgan Stanley Custodian 1,167,570 $43.90M 1.00% 0.93% 2026-06-30
21 Fractal Investments LLC 1,160,420 $43.63M 0.99% 0.92% 2026-06-30
22 LAZARD ASSET MANAGEMENT LLC 1,110,853 $41.77M 0.95% 0.88% 2026-06-30
23 Zimmer Partners, LP 997,643 $37.51M 0.85% 0.79% 2026-06-30
24 American Century Companies, Inc. 961,849 $36.17M 0.82% 0.76% 2026-06-30
25 Clearbridge Investments, LLC 956,243 $35.95M 0.82% 0.76% 2026-06-30
8 filers$25.90M notional
# Filer Notional Value % of Total Period
1 Jane Street Group, LLC Custodian $13.21M 50.99% 2026-06-30
2 Susquehanna International Group, LLP Custodian $5.81M 22.45% 2026-06-30
3 IMC-Chicago, LLC Custodian $2.55M 9.86% 2026-06-30
4 Citadel Advisors LLC Custodian $2.08M 8.03% 2026-06-30
5 Wolverine Trading, LLC Custodian $1.14M 4.42% 2025-09-30
6 GROUP ONE TRADING LLC Custodian $488.80K 1.89% 2026-06-30
7 Caption Management, LLC $421.12K 1.63% 2026-06-30
8 Simplex Trading, LLC Custodian $191.76K 0.74% 2026-06-30
8 filers$9.50M notional
# Filer Notional Value % of Total Period
1 Susquehanna International Group, LLP Custodian $3.87M 40.73% 2026-06-30
2 Jane Street Group, LLC Custodian $1.83M 19.31% 2026-06-30
3 Citadel Advisors LLC Custodian $1.58M 16.58% 2026-06-30
4 Wolverine Trading, LLC Custodian $867.25K 9.13% 2025-09-30
5 IMC-Chicago, LLC Custodian $624.16K 6.57% 2026-06-30
6 Caption Management, LLC $481.28K 5.07% 2026-06-30
7 Simplex Trading, LLC Custodian $176.72K 1.86% 2026-06-30
8 GROUP ONE TRADING LLC Custodian $71.44K 0.75% 2026-06-30

HESM Insider Trading (Form 4)

Latest: 2026-03-10
Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
Filed Reporter Role Action Shares Avg Price Net $ Link
2026-03-10 David W Niemiec Director Exer (M) +1,612 — EDGAR
2026-03-10 Jonathan C. Stein Chief Executive Officer Mixed +1,018 $38.92 -$40.8K EDGAR
2026-03-10 J Patrick Reddy Director Exer (M) +1,612 — EDGAR
2026-03-10 Stephen J J Letwin Director Exer (M) +1,612 — EDGAR
2026-03-10 Michael Scott Bast President and COO Mixed +2,552 $38.92 -$34.8K EDGAR
2026-03-04 Hess Investments North Dakota LLC Director Other (J) −1,367,433 — EDGAR
2025-09-26 John A. Gatling President and COO Exer (M) +13,904 — EDGAR
2025-08-14 John A. Gatling President and COO Sell (S) −62,457 $41.59 -$2.60M EDGAR
2025-08-08 Hess Investments North Dakota LLC Director Other (J) −2,087,682 — EDGAR
2025-06-10 Geurt G Schoonman Director Sell (S) −3,249 $39.10 -$127.1K EDGAR
2025-05-30 Hess Infrastructure Partners GP LLC Director Other (J) −90,135,102 — EDGAR
2025-05-30 BlackRock Portfolio Management LLC 10%+ Owner Mixed −15,022,517 $36.86 -$553.73M EDGAR
2025-05-12 BlackRock Portfolio Management LLC 10%+ Owner Other (J) −3,112,886 — EDGAR
2025-05-12 Hess Investments North Dakota LLC Director Other (J) −6,225,772 — EDGAR
2025-05-12 Hess Midstream GP LP Director Other (J) −18,677,316 — EDGAR
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.

HESM Insider Holdings

10 insiders · @ $31.07
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
# Insider Role Shares Disclosed Exposure Lifetime OM Net Filings Last Filed
1 Hess Investments North Dakota LLC Director 77,827,485 $2.42B -$981.58M 14 2026-03-04
2 Hess Midstream GP LLC Director 38,672,806 $1.20B $0 8 2025-02-13
3 Global Infrastructure GP II, L.P. Director 30,336,403 $942.55M -$279.73M 5 2025-01-15
4 Hess Midstream GP LP Director 29,147,034 $905.60M $0 4 2025-05-12
5 Jonathan C. Stein Chief Executive Officer 60,963 $1.89M -$731.6K 23 2026-03-10
6 David W Niemiec Director 50,527 $1.57M $575.0K 15 2026-03-10
7 Stephen J J Letwin Director 32,423 $1.01M $69.8K 14 2026-03-10
8 J Patrick Reddy Director 24,437 $759.3K $0 16 2026-03-10
9 John A. Gatling President and COO 13,904 $432.0K -$3.45M 24 2025-09-26
10 Michael Scott Bast President and COO 3,352 $104.1K $0 1 2026-03-10
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.

HESM Board & Officers

As of SEC filings through Mar 10, 2026

Directors 13

Officers 4

10% owners 6

Changes in the last 10 years (82)
Dec 4, 2025The company announced the departure of Andrew Benjamin Walz from the board in an SEC filing
Dec 4, 2025Barbara Frances Harrison became a director
Sep 26, 2025Michael Scott Bast became President and COO
Sep 26, 2025John A. Gatling reported in an SEC filing no longer being President and COO
Jul 18, 2025Noguera Gabriela Betsabe Boersner became General Counsel and Secretary
Jul 18, 2025Michael James Chadwick became Chief Financial Officer
Jul 18, 2025Kristi Hamlin McCarthy became a director
Jul 18, 2025Kristen Mary George Ghattas became a director
Jul 18, 2025Chevron Corp became a director
Jul 18, 2025Chevron Corp became a 10% owner
Jul 18, 2025Andrew Benjamin Walz became a director
May 30, 2025BlackRock Portfolio Management LLC reported in an SEC filing no longer being a 10% owner
Jan 28, 2025BlackRock Portfolio Management LLC became a 10% owner
Feb 22, 2022James K Lee became a director
Aug 11, 2021GIP II Blue Holding, L.P. became a director
Aug 11, 2021GIP II Blue Holding, L.P. became a 10% owner
Aug 11, 2021GIP II Blue Holding Partnership, L.P. reported in an SEC filing no longer being a director
Aug 11, 2021GIP II Blue Holding Partnership, L.P. reported in an SEC filing no longer being a 10% owner
Mar 16, 2021Global Infrastructure Investors II, LLC first listed as a director in an SEC filing
Mar 16, 2021Global Infrastructure Investors II, LLC first listed as a 10% owner in an SEC filing
Not reported recently (26)
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.

HESM Proposed Insider Sales (Form 144)

Latest: 2025-11-07
Last 30d: 0 filings  ·  Last 90d: 0 filings

What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.

How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.

10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.

"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.

Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.

Filed Filer Role Shares Notice Value Planned Sale Broker Plan Link
2025-11-07 Gatling John A. Former Officer 8,087 $270.8K 2025-11-07 Fidelity Brokerage Services LLC — EDGAR
2025-10-08 Gatling John A. Former Officer 5,817 $191.6K 2025-10-08 Fidelity Brokerage Services LLC — EDGAR
2025-08-12 Gatling John A. Officer 62,458 $2.60M 2025-08-12 Fidelity Brokerage Services LLC — EDGAR
2025-08-11 JOHN P RIELLY Former Member of Board of Directors 20,000 $829.5K 2025-08-11 Morgan Stanley Smith Barney LLC … — EDGAR
2025-08-06 Goodell Timothy B. Officer 12,500 $528.3K 2025-08-06 Fidelity Brokerage Services LLC — EDGAR
2025-06-09 Schoonman Guert G. Director 3,250 $126.7K 2025-06-09 National Financial Services LLC — EDGAR
2025-03-11 Gatling John A. Officer 2,087 $84.2K 2025-03-11 National Financial Services LLC — EDGAR
2024-11-12 Stein Jonathan C. Officer 7,923 $277.9K 2024-11-11 National Financial Services LLC — EDGAR
2024-03-13 Gatling John A. Officer 2,231 $79.7K 2024-03-13 National Financial Services LLC — EDGAR
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed. Market-wide feed: Planned sales (Form 144).
ETF Holders
57 ETFs hold HESM
25 shown · $1.66B total exposure · 0.11% AUM-weighted avg weight
# ETF Provider Weight $ Exposure ETF AUM As Of
1 AMLP Alerian MLP ETF Nport 9.53% $1.2B — 2026-05-31
2 MLPA Global X MLP ETF Global X 7.40% $175.0M — 2026-10-21
3 BKGI BNY Mellon Global Infrastructure Income ETF Nport 7.88% $103.2M — 2026-07-31
4 MLPX Global X MLP and Energy Infrastructure ETF Global X 1.19% $43.0M — 2026-10-21
5 VDE Vanguard Energy ETF Vanguard 0.21% $26.1M — 2026-09-30
6 AMZA InfraCap MLP ETF Nport 5.23% $24.7M — 2026-07-31
7 FCG First Trust Natural Gas ETF First Trust 3.39% $23.2M $685.9M 2026-10-20
8 AVLV Avantis U.S. Large Cap Value ETF Avantis 0.08% $16.8M $22.3B 2026-10-20
9 DIV Global X SuperDividend U.S. ETF Global X 1.72% $13.1M — 2026-10-21
10 UMI USCF Midstream Energy Income Fund Nport 2.68% $13.0M — 2026-06-30
11 MLPI NEOS MLP & Energy Infrastructure High Income ETF Nport 1.80% $12.2M — 2026-06-30
12 ENFR Alerian Energy Infrastructure ETF Nport 2.39% $11.0M — 2026-05-31
13 NUSC Nuveen ESG Small-Cap ETF Nport 0.38% $4.9M — 2026-07-31
14 TPYP Tortoise North American Pipeline ETF Nport 0.58% $4.8M — 2026-05-31
15 FENY Fidelity MSCI Energy Index ETF Fidelity 0.15% $3.6M $2.3B 2026-10-20
16 ABFL Abacus FCF Leaders ETF Nport 0.64% $3.4M — 2026-07-31
17 AVUS Avantis U.S. Equity ETF Avantis 0.02% $3.1M $14.8B 2026-10-20
18 MDIV Multi-Asset Diversified Income Index Fund First Trust 0.68% $2.8M $413.6M 2026-10-20
19 RISN Inspire Capital Appreciation ETF Nport 3.15% $2.7M — 2026-05-31
20 ESML iShares ESG Aware MSCI USA Small-Cap ETF iShares (BlackRock) 0.10% $2.6M $2.7B 2026-10-20
21 SRHQ SRH U.S. Quality GARP ETF Nport 1.20% $2.3M — 2026-04-30
22 NFRA FlexShares STOXX Global Broad Infrastructure Index Fund Nport 0.07% $2.1M — 2026-07-31
23 EMLP First Trust North American Energy Infrastructure Fund First Trust 0.05% $2.1M $4.1B 2026-10-20
24 ABLD Abacus FCF Real Assets Leaders ETF Nport 2.09% $1.9M — 2026-07-31
25 ECML Euclidean Fundamental Value ETF Nport 1.41% $1.8M — 2026-06-30
Fundamentals

Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.

Metrics
  • Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
  • Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
  • Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
  • Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
  • Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
  • YoY growth — compare to the same quarter a year earlier to remove seasonality.
  • Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
  • Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.

TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.

Trailing P/E
—
TTM Diluted EPS
$2.89
TTM Revenue
$1.63B
TTM Net Income
$368.90M
TTM Op. Cash Flow
$1.03B
Quarterly figures (12 quarters)
QuarterPeriod EndRevenueNet IncomeDiluted EPSOp. Cash Flow
Q1 '262026-03-31$388.70M$87.60M$0.68$253.30M
Q4 '252025-12-31$407.20M$93.30M$0.72$245.60M
Q3 '252025-09-30$419.60M$97.70M$0.75$258.90M
Q2 '252025-06-30$413.50M$90.30M$0.74$276.90M
Q1 '252025-03-31$381.00M$71.60M$0.65$202.40M
Q4 '242024-12-31$398.60M$70.40M$0.67$258.50M
Q3 '242024-09-30$377.60M$58.60M$0.63$224.90M
Q2 '242024-06-30$364.60M$49.50M$0.59$271.60M
Q1 '242024-03-31$354.70M$44.60M$0.59$185.30M
Q4 '232023-12-31$355.80M$37.50M$0.54$247.60M
Q3 '232023-09-30$362.50M$35.30M$0.57$215.50M
Q2 '232023-06-30$323.50M$25.10M$0.50$204.60M
Q1 2026 • period ending 2026-03-31 • filed 2026-05-07
Valuation

Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.

Price Multiples
  • P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
  • P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
  • P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
  • EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
  • EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
  • ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
  • ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
  • Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
  • FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
  • Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
  • Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
  • Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
  • Multiples expanding while earnings are flat = sentiment-driven rally.
  • Multiples compressing while earnings grow = value coming from fundamentals.
P/E
10.75
P/B
10.45
P/S
2.41
EV/EBITDA
6.23
EV/Sales
4.70
ROE
98.4%
ROA
8.5%
Div Yield
9.99%
FCF Yield
26.41%
Debt/Equity
9.97
Current Ratio
—
Market Cap
$3.92B
as of 2026-10-21
Short Interest & Float

Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.

Metric definitions
  • Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
  • SI % of Float — short interest / free float. The key crowding metric.
  • Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
  • Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
  • Free Float — shares available for public trading (total shares minus insider / restricted).
  • Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
  • SI % of Float < 5% — typical, no particular signal.
  • 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
  • 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
  • >30% — extreme; borrow is likely expensive and squeeze risk is material.
  • Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
  • Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
  • A sudden drop in SI after a rally may indicate a squeeze in progress.

Short interest is reported mid-month and end-of-month; short volume is daily.

Short Interest
7.70M
SI % of Float
6.03%
Days to Cover
4.94
Short Vol Ratio
64.4%
Free Float
127.72M
Float %
99.5%
Short interest 2026-09-30 • Short volume 2026-10-21 • Float 2026-05-15