What is the 13F Pro Quality Score for HESM?

13F Pro ranks Hess Midstream LP (HESM) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View HESM's current score at https://13fpro.ai/research/HESM (free sign-up required for the full ranking).

Which hedge funds own the most HESM stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of HESM include ALPS ADVISORS, GOLDMAN SACHS GROUP, Blackstone. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/HESM as soon as new 13F filings post.

Where does 13F Pro source HESM data?

All Hess Midstream LP fundamentals and ownership data come directly from SEC EDGAR. Hess Midstream LP files with the SEC under CIK 1789832. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is HESM in?

Hess Midstream LP (HESM) is classified in the Energy sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/energy.

What drives HESM's revenue?

Per Hess Midstream LP's latest 10-Q filed with the SEC on 2026-05-07, the biggest revenue drivers are: Gathering ($204.1M, +0% YoY); Processing and Storage ($148.4M, +0% YoY); Terminaling and Export ($37.6M, +23% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/research/HESM.

What are HESM's largest expenses?

Hess Midstream LP's latest 10-Q reports these as the largest expense items: Operating and maintenance expenses ($85.6M, Flat YoY); Depreciation expense ($58.5M, +14% YoY); Interest expense, net ($55.4M, -1% YoY). Sourced directly from SEC EDGAR filing text for Q1 2026 (quarter ended March 31, 2026).

How often is HESM research updated on 13F Pro?

HESM's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Hess Midstream LP(HESM)Stock Analysis

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13F Pro Quality Score

78.4/100

Rank #67 of 2,879 stocksTOP 5%

View Energy peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

63.3/100

Profitability

88.2/100

Balance Sheet

81.6/100

Earnings Quality

88.4/100

Free Cash Flow

92.4/100

Institutional Flow

86.2/100

Revenue Scale

58.8/100

Dilution Risk

88.6/100

HESM Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Hess Midstream LP (HESM), a Energy sector company. 13F Pro's AI-powered ranking engine scores HESM at 78.4/100 on a 32-signal composite quality model, placing it at rank #67 of 2,879 stocks — the top 5% of the AI-ranked universe. HESM scores in the top quartile across free cash flow (92.4), earnings quality (88.4), profitability (88.2). Based on the latest XBRL financial filings (Q1 2026), Hess Midstream LP reports quarterly revenue of $390.1M, net income of $87.6M, an operating margin of 61.0%. Top institutional holders of HESM by reported 13-F value include ALPS ADVISORS, GOLDMAN SACHS GROUP, Blackstone, based on the most recent SEC filings. HESM trades on the NYSE exchange and files with the SEC under CIK 1789832. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate HESM daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Hess Midstream LP directly from SEC EDGAR. Hess Midstream LP's 13F Pro composite quality score has ranged between 8 and 80 since 2021, currently 78.4 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.

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Fun facts about Hess Midstream LP

Quirks, history, and lore behind HESM — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. midstream energy company · listed on NYSE · headquartered in Houston, Texas · structured as a master limited partnership.
2
The Numbers
Generates revenue in the hundreds of millions of dollars annually, with cash flows underpinned by long-term, fee-based contracts that make Wall Street sleep soundly.
3
The History
Went public in 2017, carved out of a parent oil company's infrastructure assets — a classic MLP move to unlock value from pipelines and processing facilities.
4
The Secret
It doesn't drill a single well — instead it gathers, compresses, processes, and transports natural gas and crude oil, essentially acting as the toll road between the wellhead and the market.
5
The Lore
Nearly all of its volumes flow from a single upstream customer — its own parent company — making it unusually cozy, or unusually dependent, depending on how you look at it.
6
The Giveaway
Its parent is a storied independent oil company founded by Leon Hess, famous for the Bakken Shale and once owning a certain NFL team — and this spinoff carries that same family name.

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What's Driving HESM's Business? Latest 10-Q Breakdown

✓ 25/25 datapoints verified

AI-extracted from Hess Midstream LP's 10-Q filed 2026-05-07 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Q1 revenue of $390.1M up 2% YoY as higher tariff rates and third-party services offset 5–9% volume declines; Adjusted EBITDA grew 3% to $299.8M.

Biggest Revenue Drivers

Total revenue: $390.1M+2% YoY

Gathering$204.1M+0% YoY

Higher tariff rates and pass-through revenue offset lower gas and crude oil gathering volumes from Chevron.

Processing and Storage$148.4M+0% YoY

Higher tariff rates and third-party services offset lower gas processing volumes from Chevron.

Terminaling and Export$37.6M+23% YoY

Higher tariff rates and MVC revenue recognized from prior deferrals, partially offset by lower volumes.

Largest Expense Items

Operating and maintenance expenses$85.6MFlat YoY

Higher pass-through costs and offload fees offset by lower employee costs and maintenance activity.

Depreciation expense$58.5M+14% YoY

New gathering and compression assets brought into service; write-off of Capa gas plant project.

Interest expense, net$55.4M-1% YoY

Lower interest on senior notes following prior-year early redemption, offset by higher revolving credit borrowings.

Margins: Operating margin compressed slightly as depreciation grew 14% YoY while revenues rose only 2%, driven by new asset additions. Adjusted EBITDA margin remained stable at ~77% as higher tariff rates and pass-through revenues offset volume declines.

Watch Items from the Filing

Chevron represents 96% of revenues and 96% of accounts receivable; high customer concentration creates significant dependency on single customer performance.
Gas gathering volumes down 1.6% YoY (438 vs 431 MMcf/d), crude oil gathering down 6% (110 vs 117 MBbl/d), oil terminaling down 5% (119 vs 125 MBbl/d), and water gathering down 9% (115 vs 126 MBbl/d) reflect lower production.
Secondary Term commercial agreements (commenced Jan 2024) employ fixed fee structure based on 2021–2023 average fees with 3% annual cap, replacing fee recalculation mechanism; provides less downside protection than Initial Term.
Minimum volume commitments set at 80% of Chevron's nominations on three-year rolling basis through 2033 provide downside protection; deferred revenue from MVC shortfall fees totaled $15.7M at Q1 2026.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q1 2026

$390.1M

Net Income

Q1 2026

$87.6M

Free Cash Flow

Q1 2026

$224.5M

Operating Margin

Q1 2026

61.0%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+20.2% YoY

$1.62BFY 2025

FY21 $1.20BFY22 $1.28BFY23 $1.35BFY25 $1.62B

Net Income

+197.6% YoY

$352.9MFY 2025

FY21 $46.4MFY22 $83.9MFY23 $118.6MFY25 $352.9M

Operating Income

+23.4% YoY

$1.01BFY 2025

FY21 $727.2MFY22 $791.2MFY23 $816.9MFY25 $1.01B

Total Assets

+15.8% YoY

$4.39BFY 2025

FY21 $3.49BFY22 $3.59BFY23 $3.79BFY25 $4.39B

Total Debt

+18.0% YoY

$3.80BFY 2025

FY21 $2.58BFY22 $2.89BFY23 $3.22BFY25 $3.80B

Op. Cash Flow

+13.6% YoY

$983.8MFY 2025

FY21 $795.5MFY22 $861.1MFY23 $866.4MFY25 $983.8M

Metric	FY 2025	FY 2023	FY 2022	FY 2021	FY 2020	FY 2018
Revenue	$1.62B +20.2%	$1.35B +5.8%	$1.28B +5.9%	$1.20B +10.2%	$1.09B +53.2%	$712.7M
Net Income	$352.9M +197.6%	$118.6M +41.4%	$83.9M +80.8%	$46.4M +93.3%	$24.0M -66.1%	$70.8M
Operating Income	$1.01B +23.4%	$816.9M +3.2%	$791.2M +8.8%	$727.2M +26.1%	$576.5M +52.4%	$378.2M
Total Assets	$4.39B +15.8%	$3.79B +5.6%	$3.59B +2.9%	$3.49B +3.3%	$3.37B +12.8%	$2.99B
Total Debt	$3.80B +18.0%	$3.22B +11.6%	$2.89B +11.8%	$2.58B +34.6%	$1.92B +93.5%	$992.4M
Operating Cash Flow	$983.8M +13.6%	$866.4M +0.6%	$861.1M +8.2%	$795.5M +24.0%	$641.7M +37.4%	$466.9M

AI Insight: HESM Financial Trends

Revenue and profitability peaked in Q3 2025 but have softened into Q1 2026, while debt has climbed 10% since Q2 2024.

• Net income surged from $50M in Q2 2024 to $98M in Q3 2025 (+96%), then retreated to $88M in Q1 2026.

• Operating margin compressed from 63.4% in Q3 2025 to 61.0% in Q1 2026, marking recent weakness.

• Total debt increased $347M from Q2 2024 to Q1 2026, rising from $3,460M to $3,807M (+10%).

⚠ Operating cash flow volatile; dropped 17% quarter-over-quarter (Q4 2025 to Q1 2026: $246M vs $259M).

⚠ Revenue decline 7% from Q3 2025 peak ($421M) to Q1 2026 ($390M) signals potential demand or market headwind.

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Available Research

13F Pro tracks comprehensive data for Hess Midstream LP including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of HESM

ALPS ADVISORS INC
$1.2B30,880,193 sh
GOLDMAN SACHS GROUP INC
$309.0M7,949,898 sh
Blackstone Inc.
$302.0M7,769,525 sh
Invesco Ltd.
$279.2M7,183,005 sh
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.
$274.7M7,066,430 sh
TORTOISE CAPITAL ADVISORS, L.L.C.
$173.6M4,466,939 sh
Bank of New York Mellon Corp
$145.8M3,752,002 sh
TD ASSET MANAGEMENT INC
$85.6M2,201,117 sh
Epoch Investment Partners, Inc.
$80.9M2,081,821 sh
Neuberger Berman Group LLC
$76.8M1,975,914 sh

Fund	Value	Shares
ALPS ADVISORS INC	$1.2B	30,880,193
GOLDMAN SACHS GROUP INC	$309.0M	7,949,898
Blackstone Inc.	$302.0M	7,769,525
Invesco Ltd.	$279.2M	7,183,005
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	$274.7M	7,066,430
TORTOISE CAPITAL ADVISORS, L.L.C.	$173.6M	4,466,939
Bank of New York Mellon Corp	$145.8M	3,752,002
TD ASSET MANAGEMENT INC	$85.6M	2,201,117
Epoch Investment Partners, Inc.	$80.9M	2,081,821
Neuberger Berman Group LLC	$76.8M	1,975,914

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Is HESM a good stock to buy?

13F Pro's AI-powered analysis of Hess Midstream LP (HESM) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Energy sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for HESM are available on the HESM stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own HESM?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling HESM. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Hess Midstream LP's investment landscape.