$HESM

Hess Midstream LP reported Q3 GAAP EPS of $0.77, exceeding estimates by $0.06, with revenue of $410.1M, down 2.6% year-over-year but beating expectations by $5.43M. The company reiterated its full-year 2026 guidance.

Hess Midstream LP (HESM) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 HESS MIDSTREAM LP HESS MIDSTREAM LP REPORTS ESTIMATED RESULTS FOR THE THIRD QUARTER OF 2026 Third Quarter 2026 Highlights: • Net income was $179.1 million. Net cash provided by operating activities was $267.9 million. • Net income attributable to Hess Midstream LP wa

Hess Midstream LP (HESM) announced a Q3 cash distribution of $0.7985 per Class A share, an increase of $0.0097 from Q2. The company aims for 5% annualized distribution growth through 2026, funded by Adjusted Free Cash Flow. Q3 results are expected on October 30.

Hess Midstream announced a 5% annual payout growth target through 2026, with the next quarterly distribution payable on November 13, 2026. The company also plans to release its third-quarter earnings on October 30, 2026. Hess Midstream operates midstream assets primarily in the Bakken and Three Forks Shale plays, serving Chevron and third-party customers.

Hess Midstream (HESM) has dropped 20% in a month after Chevron (CVX) announced it would sell its stake, citing lower fees and reduced EBITDA guidance. Despite this, Hess Midstream offers a 10% yield and long-term growth potential, including a dividend hike and a 40% reduction in outstanding shares due to Chevron's transfer of equity interest.

Chevron (CVX) will take a $3B-$4B loss from a deal with Hess Midstream LP (HESM), writing off assets acquired during its 2025 Hess acquisition. The move aims to cut midstream costs in the Bakken region by up to 50%, benefiting long-term profits. Chevron's strong financials, with a $440B market cap and 0.2x debt-to-equity ratio, can absorb the loss. The company offers a 3.1% yield, supported by 38 years of dividend increases.

Analysts made several calls on Friday. Roth initiated Natera and Guardant Health with buy ratings, targeting $475 and growth respectively. PhillipCapital upgraded SpaceX to buy with a $250 price target. Seaport reiterated Nvidia as sell due to competitive pressures. Barclays initiated Rush Street Interactive at overweight. Piper Sandler downgraded Deckers to underweight. Jefferies upgraded MSC Industrial to buy. Citizens initiated Microbot Medical at market outperform.

Wall Street analyst research calls for Friday include upgrades for Hess Midstream LP (HESM) to Outperform, MSC Industrial (MSM) to Overweight, and SpaceX (SPCX) to Buy. Downgrades include Deckers Outdoor (DECK) to Underweight, Globe Life (GL) to Neutral, and NVR (NVR) to Underperform. Initiations include Guardant Health (GH) and Natera (NTRA) with Buy ratings. Markets saw declines, with Nasdaq down 2.6% and Treasury yields dropping sharply.

Raymond James upgraded Hess Midstream Partners (HESM) to Outperform with a $32 price target, citing attractive valuation post-Chevron restructuring. The firm noted a 10.7% yield on expected 2027 distributions. HESM reported strong Q2 2026 earnings, but JPMorgan and Morgan Stanley downgraded it, citing contract and growth concerns. HESM trades at $30.04, near its 52-week low.

Hess Midstream (HESM) shares fell 23% in a month after announcing a deal with Chevron (CVX). The deal includes a $200M payment, asset acquisition, and unit retirement, reducing shares outstanding by 40%. EBITDA is expected to drop 27% by 2027, but the company maintains a 10.4% yield. The stock's performance depends on leverage post-deal.