HESM vs AM

For growth investors, Hess Midstream LP (HESM) is the stronger pick with 8.

7% revenue growth year-over-year, versus 7. 0% for Antero Midstream Corporation (AM). Hess Midstream LP (HESM) offers the better valuation at 13. 5x trailing P/E (13. 3x forward), making it the more compelling value choice. Analysts rate Hess Midstream LP (HESM) a "Hold" — based on 9 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, Hess Midstream LP (HESM) is the cheapest at 13.

5x versus Antero Midstream Corporation at 24. 7x. On forward P/E, Hess Midstream LP is actually cheaper at 13. 3x.

Over the past 5 years, Antero Midstream Corporation (AM) delivered a total return of +177.

4%, compared to +123. 1% for Hess Midstream LP (HESM). Over 10 years, the gap is even starker: HESM returned +121. 2% versus AM's -13. 8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Antero Midstream Corporation (AM) is the lower-risk stock at 0.

19β versus Hess Midstream LP's 0. 27β — meaning HESM is approximately 45% more volatile than AM relative to the S&P 500. On balance sheet safety, Antero Midstream Corporation (AM) carries a lower debt/equity ratio of 163% versus 9% for Hess Midstream LP — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Hess Midstream LP (HESM) is pulling ahead at 8.

7% versus 7. 0% for Antero Midstream Corporation (AM). On earnings-per-share growth, the picture is similar: Hess Midstream LP grew EPS 14. 9% year-over-year, compared to 3. 6% for Antero Midstream Corporation. Over a 3-year CAGR, HESM leads at 8. 4% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Antero Midstream Corporation (AM) is the more profitable company, earning 32.

8% net margin versus 21. 8% for Hess Midstream LP — meaning it keeps 32. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: HESM leads at 62. 2% versus 51. 2% for AM. At the gross margin level — before operating expenses — AM leads at 65. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

On forward earnings alone, Hess Midstream LP (HESM) trades at 13.

3x forward P/E versus 19. 2x for Antero Midstream Corporation — 5. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for AM: 1. 2% to $21. 50.

All stocks in this comparison pay dividends.

Hess Midstream LP (HESM) offers the highest yield at 7. 4%, versus 4. 3% for Antero Midstream Corporation (AM).

For long-horizon retirement investors, Hess Midstream LP (HESM) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.

27), 7. 4% yield, +121. 2% 10Y return). Both have compounded well over 10 years (HESM: +121. 2%, AM: -13. 8%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: HESM is a small-cap deep-value stock; AM is a mid-cap income-oriented stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.