Hess Midstream LP $HESM ( ▲ 0.18% ) heading into its Q3 2025 earnings report on November 3, 2025.
The midstream energy company has been on investors' radar, and the numbers tell an interesting story.
The Numbers That Matter
YTD Return: -10.75%
Market Cap: $6.95B
P/E Ratio: 12.28
Dividend Yield: 8.91%
That dividend yield stands out. In a market where most stocks pay 2-3%, $HESM is delivering more than double that.
And they've been consistent about it.
Analysts’ Comments
Analysts are watching this one closely.
The consensus price target sits around $38-$40 per share, with most analysts rating "Hold."
"Hess Midstream continues to demonstrate strong operational performance with stable cash flows," noted Mizuho Securities analyst Gabe Moreen. "The Bakken infrastructure position remains a key asset."
"We expect HESM to deliver solid third-quarter results driven by higher throughput volumes and continued cost discipline."
But here's the thing: not everyone's convinced about the upside.
Some analysts point to the company's exposure to Bakken production levels and the broader energy market volatility as reasons for caution.
Save the Date: November 3
The company will report before the market opens. Wall Street is looking for:
Continued stability in gathering and processing volumes
Updates on capital spending plans
Commentary on distribution coverage
Any impact from Chevron's pending acquisition of Hess Corporation
"Our focus remains on delivering reliable operations, maintaining a strong balance sheet, and returning capital to our unitholders.”
That matters because HESM's business model is built on long-term contracts with parent company Hess Corporation. The Chevron deal adds a layer of uncertainty—or opportunity, depending on who you ask.
The Real Question
Can HESM keep paying that 8.91% yield while maintaining growth?
JPMorgan analyst Jeremy Tonet thinks so: "The partnership's fee-based contracts provide cash flow visibility, and the distribution appears well-covered by current operations."
"We see HESM as fairly valued at current levels. The key will be execution and any clarity on the Chevron-Hess combination."
One thing most analysts agree on: the company's infrastructure assets in the Bakken are valuable.
The question is what they're worth in a changing energy landscape.
We'll know more on November 3. Until then, that 8.91% dividend keeps paying while investors wait.
Here's what smart investors are watching right now:
Disclaimer: This is not financial advice. Do your own research and consult a qualified financial advisor before investing.
