HESM trades 6.8% below Wall Street's consensus target of $32.00.
Last 12 months price action with 12-month analyst target path
The base valuation assumes HESM achieves its forward estimates and maintains a stable P/E multiple of 9.6x. This scenario reflects the blended consensus of 9 Wall Street analysts, balancing both positive catalysts and macroeconomic headwinds over the next 12 months.
As of November 9, 2026, Hess Midstream LP (HESM) has a Wall Street consensus price target of $32.00, based on estimates from 9 covering analysts. With the stock currently trading at $29.96, this represents a potential upside of +6.8%. The company has a market capitalization of $6.19B.
Analyst price targets range from a low of $30.00 to a high of $34.00, representing a 13% spread in expectations. The median target of $32.00 aligns closely with the consensus average. The tight target dispersion indicates high conviction among analysts.
The current analyst consensus rating is Hold, with 2 analysts rating the stock as a Buy or Strong Buy,4 rating it Hold, and 3 rating it Sell or Strong Sell. The bearish sentiment suggests caution about the stock at current levels.
From a valuation perspective, HESM trades at a trailing P/E of 10.2x and forward P/E of 9.6x. The forward PEG ratio of 0.57 suggests the stock may be undervalued relative to its growth. Analysts expect EPS to grow +7.0% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $12.68, with bear and bull scenarios of $7.99 and $16.71 respectively. Model confidence stands at 40/100, suggesting limited visibility into future performance.
| Company | Market Cap | Price | Target | Upside Potential | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 TRGPTarga Resources Corp. | $56.8B | $264.59 | $328.00 | +24.0% | Buy | 23.3x | 34 |
 DKLDelek Logistics Partners, LP | $2.8B | $51.77 | $57.00 | +10.1% | Hold | 16.8x | 11 |
 WESWestern Midstream Partners, LP | $16.5B | $39.85 | $49.71 | +24.7% | Hold | 10.7x | 13 |
 AMAntero Midstream Corporation | $9.0B | $18.98 | $24.00 | +26.4% | Hold | 13.3x | 17 |
 MPLXMPLX Lp | $56.7B | $55.91 | $64.00 | +14.5% | Buy | 13.1x | 28 |
 CVXChevron Corporation | $423.4B | $212.61 | $218.25 | +2.7% | Buy | 11.8x | 53 |
 EOGEOG Resources, Inc. | $78.4B | $147.13 | $165.21 | +12.3% | Buy | 8.2x | 66 |
 ETEnergy Transfer LP | $69.4B | $20.16 | $25.50 | +26.5% | Buy | 11.6x | 34 |
 EPDEnterprise Products Partners L.P. | $80.1B | $37.03 | $41.33 | +11.6% | Buy | 12.2x | 45 |
 KMIKinder Morgan, Inc. | $66.7B | $29.96 | $37.67 | +25.7% | Buy | 19.0x | 34 |
Quick answers to the most common questions about buying HESM stock.
The consensus price target for HESM is $32, close to the current price of $29.96 (6.8% implied move). Based on 9 analyst estimates, the stock appears fairly valued near current levels.
HESM has a consensus rating of "Hold" based on 9 Wall Street analysts. The rating breakdown is leaning bearish, with 3 Sell/Strong Sell ratings. The consensus 12-month price target of $32 implies 6.8% upside from current levels.
With a forward P/E of 9.5887x, HESM trades at a relatively low valuation. The consensus target of $32 implies 6.8% appreciation, suggesting the market may be pricing in risks.
The most bullish Wall Street analyst has a price target of $34 for HESM, while the most conservative target is $30. The consensus of $32 represents the median expectation. Our quantitative valuation model projects a bull case target of $17 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
HESM is moderately covered, with 9 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 2 have Buy ratings, 4 recommend Hold, and 3 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
The 12-month HESM stock forecast based on 9 Wall Street analysts shows a consensus price target of $32, with estimates ranging from $30 (bear case) to $34 (bull case). The median consensus rating is "Hold". Our proprietary valuation model produces a base case fair value of $13, with bear/bull scenarios of $8/$17.
Our quantitative valuation model calculates HESM's fair value at $13 (base case), with a bear case of $8 and bull case of $17. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 40/100.
HESM trades at a forward P/E ratio of 9.6x based on next-twelve-months earnings estimates compared to a trailing P/E of 10.2x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
HESM appears fairly valued according to analysts, with a "Hold" rating and minimal upside to the $32 target. Consider your investment thesis and risk tolerance. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
HESM analyst price targets range from $30 to $34, a 13% tight range reflecting strong analyst consensus. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $32 consensus represents the middle ground. Our model's $8-$17 range provides an independent fundamental perspective.
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