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    What Hess Midstream (HESM)'s 2026 Earnings Outlook and Board Shake-up Means For Shareholders

    Simply Wall St·12/18/2025 18:38:20
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    • Hess Midstream recently issued full-year 2026 guidance, forecasting net income of US$650 million to US$700 million and outlining expected gathering, processing, and terminal volumes across its Bakken-focused midstream network.
    • The company also reshaped its board leadership by appointing existing director Kristi McCarthy as Chair and adding Chevron executive Barbara Harrison, highlighting the deepening alignment with its largest customer and partner.
    • Next, we’ll examine how this new 2026 earnings outlook, including the US$650 million to US$700 million net income range, influences Hess Midstream’s investment narrative.

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    Hess Midstream Investment Narrative Recap

    To own Hess Midstream, you need to believe its Bakken assets and long-term contracts with Hess/Chevron can keep volumes and cash flows resilient despite basin and governance risks. The new 2026 net income guidance of US$650 million to US$700 million does not materially change the near term catalyst, which still centers on sustained throughput growth tied to Chevron’s drilling plans, nor does it reduce the key risk of overreliance on a single region and customer.

    The most relevant update is the appointment of Chevron executive Barbara Harrison to the Hess Midstream board, alongside Kristi McCarthy’s move to Chair. For investors, this deepens the visible link between Hess Midstream’s earnings outlook and Chevron’s long term Bakken development and export strategy, which is central to volume growth and utilization across its gathering, processing, and terminal assets.

    Yet investors should be aware that this closer alignment with Chevron could also concentrate risk if...

    Read the full narrative on Hess Midstream (it's free!)

    Hess Midstream's narrative projects $2.1 billion revenue and $769.1 million earnings by 2028.

    Uncover how Hess Midstream's forecasts yield a $36.86 fair value, a 7% upside to its current price.

    Exploring Other Perspectives

    HESM 1-Year Stock Price Chart
    HESM 1-Year Stock Price Chart

    Six fair value estimates from the Simply Wall St Community range from US$11.87 to US$74.46, underscoring how far apart views on Hess Midstream can be. You might weigh those opinions against the company’s reliance on long term, Chevron backed minimum volume contracts and consider how that exposure could shape its performance over time.

    Explore 6 other fair value estimates on Hess Midstream - why the stock might be worth less than half the current price!

    Build Your Own Hess Midstream Narrative

    Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.