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/company/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, Invesco Ltd.. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/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 2026-08-06, the biggest revenue drivers are: Oil and gas gathering services (affiliate) ($171.2M, vs $185.9M in Q2 2025); Processing and storage services (affiliate) ($140.1M, vs $152.3M in Q2 2025); Terminaling and export services (affiliate) ($36.5M, vs $33.1M in Q2 2025). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/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 ($85.9M, vs $94.1M in Q2 2025); Interest expense, net ($54.5M, vs $55.4M in Q2 2025); Depreciation expense ($54.4M, vs $51.8M in Q2 2025). Sourced directly from SEC EDGAR filing text for Q2 2026 (quarter ended June 30, 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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SEC EDGAR: CIK 1789832 HESM stock profile & AI dashboard →

13F Pro Quality Score

71.3/100

Rank #192 of 2,961 stocksTOP 10%

View Energy peers →

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

Revenue Growth

50.2/100

Profitability

85.4/100

Balance Sheet

81.3/100

Earnings Quality

65.0/100

Free Cash Flow

95.7/100

Institutional Flow

34.4/100

Revenue Scale

59.4/100

Dilution Risk

88.2/100

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Why HESM Scores 71/100

exact factor attribution · 2026-09-11

HESM's composite is driven by free cash flow and profitability. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Free cash flow

+6.9 pts

96th pct

Profitability

+5.3 pts

85th pct

Capital efficiency

+3.1 pts

81th pct

Earnings growth

+1.9 pts

89th pct

Shareholder dilution

+1.9 pts

88th pct

Earnings quality

+1.5 pts

65th pct

Scale

+1.4 pts

59th pct

Revenue growth

+0.0 pts

50th pct

Institutional flow

-0.8 pts

34th pct

Latest change (2026-08-07): 78 → 74 · ↓ Revenue growth 63→43; ↓ Earnings growth 88→74

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

HESM Stock Analysis & AI Quality Score

Data updated 2026-09-11

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 71.3/100 on a 32-signal composite quality model, placing it at rank #192 of 2,961 stocks — the top 10% of the AI-ranked universe. HESM scores in the top quartile across free cash flow (95.7), profitability (85.4), balance sheet strength (81.3). Areas of concern include institutional flow (34.4), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), Hess Midstream LP reports quarterly revenue of $399.0M, net income of $96.4M, an operating margin of 63.5%. Top institutional holders of HESM by reported 13-F value include ALPS ADVISORS, GOLDMAN SACHS GROUP, Invesco Ltd., 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 47 and 77 since 2021, currently 71.3 — an improving long-term trajectory across 68 quarterly and live scoring snapshots.

✦

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

✓ 35/35 datapoints verified

AI-extracted from Hess Midstream LP's 10-Q filed 2026-08-06 — Q2 2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Revenues and other income fell to $399.0 million from $414.2 million as Chevron throughput declined — oil terminaling down 15%, water gathering down 12% — with net income of $173.7 million.

Biggest Revenue Drivers

Oil and gas gathering services (affiliate)$171.2Mvs $185.9M in Q2 2025

Lower gas and crude oil gathering physical volumes delivered by Chevron, partly offset by higher tariff rates and MVC revenue

Processing and storage services (affiliate)$140.1Mvs $152.3M in Q2 2025

$16.0 million attributable to lower gas processing physical volumes delivered by Chevron, partly offset by third-party services and higher tariff rates

Biggest Revenue Drivers

Total revenue: $397.7M

Oil and gas gathering services (affiliate)$171.2Mvs $185.9M in Q2 2025

Lower gas and crude oil gathering physical volumes delivered by Chevron, partly offset by higher tariff rates and MVC revenue

Processing and storage services (affiliate)$140.1Mvs $152.3M in Q2 2025

$16.0 million attributable to lower gas processing physical volumes delivered by Chevron, partly offset by third-party services and higher tariff rates

Terminaling and export services (affiliate)$36.5Mvs $33.1M in Q2 2025

$7.0 million from higher tariff rates, offset by $4.2 million from lower physical volumes delivered by Chevron

Water gathering and disposal services (affiliate)$32.0Mvs $34.0M in Q2 2025

Lower water gathering and disposal revenue on lower production from lower new-well activity

Third-party services$17.9Mvs $8.2M in Q2 2025

Services provided directly to third parties as the company pursues strategic relationships with Bakken producers to maximize utilization

Largest Expense Items

Operating and maintenance expenses$85.9Mvs $94.1M in Q2 2025

Lower employee costs charged under omnibus and secondment agreements and lower maintenance activity, partly offset by higher pass-through costs

Interest expense, net$54.5Mvs $55.4M in Q2 2025

Approximately flat compared with the prior-year quarter

Depreciation expense$54.4Mvs $51.8M in Q2 2025

Increased due to new gathering assets brought into service

General and administrative expenses$5.5Mvs $8.1M in Q2 2025

Lower charges from Chevron under omnibus and employee secondment agreements

Margins: Total operating costs fell to $145.8 million from $154.0 million on lower employee and maintenance costs, partly offset by higher depreciation; income from operations was $253.2 million versus $260.2 million.

Watch Items from the Filing

Chevron accounted for 95% of total revenues for the three and six months ended June 30, 2026, and 94% of accounts receivable from contracts with customers.
Throughput volumes fell 15% for oil terminaling and 12% for water gathering versus Q2 2025 on lower production from lower new-well activity; gas processing fell 4%.
Most systems are in the Secondary Term with inflation-based fees capped at 3% annually, which the filing says may provide less downside risk protection than the prior structure.
Total debt carrying value was $3,680.0 million, including $256.0 million drawn on the revolver and $347.5 million term loan; both Credit Facilities mature July 2027.
MVC shortfall deferred revenue rose to $25.9 million at June 30, 2026 from $6.4 million at January 1, with $22.2 million of shortfall fees received year-to-date.

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

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

Revenue

Q2 2026

$399.0M

Net Income

Q2 2026

$96.4M

Free Cash Flow

Q2 2026

$255.5M

Operating Margin

Q2 2026

63.5%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+8.4% YoY

$1.62BFY 2025

FY22 $1.28BFY23 $1.35BFY24 $1.50BFY25 $1.62B

Net Income

+58.2% YoY

$352.9MFY 2025

FY22 $83.9MFY23 $118.6MFY24 $223.1MFY25 $352.9M

Operating Income

+9.7% YoY

$1.01BFY 2025

FY22 $791.2MFY23 $816.9MFY24 $919.0MFY25 $1.01B

Total Assets

+5.7% YoY

$4.39BFY 2025

FY22 $3.59BFY23 $3.79BFY24 $4.15BFY25 $4.39B

Total Debt

+8.9% YoY

$3.80BFY 2025

FY22 $2.89BFY23 $3.22BFY24 $3.49BFY25 $3.80B

Op. Cash Flow

+4.6% YoY

$983.8MFY 2025

FY22 $861.1MFY23 $866.4MFY24 $940.3MFY25 $983.8M

Free Cash Flow

+14.8% YoY

$728.2MFY 2025

FY22 $622.9MFY23 $642.9MFY24 $634.2MFY25 $728.2M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$1.62B +8.4%	$1.50B +10.9%	$1.35B +5.8%	$1.28B +5.9%	$1.20B +10.2%	$1.09B
Net Income	$352.9M +58.2%	$223.1M +88.1%	$118.6M +41.4%	$83.9M +80.8%	$46.4M +93.3%	$24.0M
Operating Income	$1.01B +9.7%	$919.0M +12.5%	$816.9M +3.2%	$791.2M +8.8%	$727.2M +26.1%	$576.5M
Total Assets	$4.39B +5.7%	$4.15B +9.5%	$3.79B +5.6%	$3.59B +2.9%	$3.49B +3.3%	$3.37B
Total Debt	$3.80B +8.9%	$3.49B +8.4%	$3.22B +11.6%	$2.89B +11.8%	$2.58B +34.6%	$1.92B
Operating Cash Flow	$983.8M +4.6%	$940.3M +8.5%	$866.4M +0.6%	$861.1M +8.2%	$795.5M +24.0%	$641.7M
Free Cash Flow	$728.2M +14.8%	$634.2M -1.4%	$642.9M +3.2%	$622.9M -1.5%	$632.3M +85.6%	$340.6M

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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
$1.1B29,254,074 sh
GOLDMAN SACHS GROUP INC
$315.4M8,389,537 sh
Invesco Ltd.
$283.4M7,535,978 sh
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.
$265.3M7,055,800 sh
Blackstone Inc.
$217.6M5,786,130 sh
Bank of New York Mellon Corp
$177.5M4,720,992 sh
TORTOISE CAPITAL ADVISORS, L.L.C.
$159.3M4,236,214 sh
Neuberger Berman Group LLC
$100.4M2,671,592 sh
TD ASSET MANAGEMENT INC
$74.6M1,984,203 sh
UBS Group AG
$74.2M1,974,398 sh

Fund	Value	Shares
ALPS ADVISORS INC	$1.1B	29,254,074
GOLDMAN SACHS GROUP INC	$315.4M	8,389,537
Invesco Ltd.	$283.4M	7,535,978
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	$265.3M	7,055,800
Blackstone Inc.	$217.6M	5,786,130
Bank of New York Mellon Corp	$177.5M	4,720,992
TORTOISE CAPITAL ADVISORS, L.L.C.	$159.3M	4,236,214
Neuberger Berman Group LLC	$100.4M	2,671,592
TD ASSET MANAGEMENT INC	$74.6M	1,984,203
UBS Group AG	$74.2M	1,974,398

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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. HESM is classified as a mid company.

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.