Hess Midstream (HESM) reported second-quarter 2026 net income of $173.7 million, down from $179.7 million a year earlier. Revenues and other income were $399.0 million, compared with $414.2 million in the prior-year quarter.
Net income attributable to Hess Midstream LP was $96.4 million, or $0.75 basic earnings per Class A share. The company reaffirmed its full-year 2026 financial and throughput guidance and raised its quarterly cash distribution.
- Adjusted EBITDA was $313.7 million, compared with $316.0 million in the second quarter of 2025.
- Net cash provided by operating activities was $278.6 million.
- Adjusted Free Cash Flow was $231.6 million.
- The quarterly cash distribution was increased to $0.7888 per Class A share for the second quarter of 2026.
- Capital expenditures totaled $30.6 million, down 56% from $70.0 million in the prior-year quarter.
- Hess Midstream reaffirmed 2026 guidance for net income of $650 million to $700 million.
$HESM Hedge Fund Activity
We have seen 148 institutional investors add shares of $HESM stock to their portfolio, and 114 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BANK OF NEW YORK MELLON CORP added 1,512,007 shares (+67.5%) to their portfolio in Q1 2026, for an estimated $58,771,712
- CUSHING ASSET MANAGEMENT, LP DBA NXG INVESTMENT MANAGEMENT removed 1,357,200 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $52,754,364
- GOLDMAN SACHS GROUP INC removed 1,131,286 shares (-12.5%) from their portfolio in Q1 2026, for an estimated $43,973,086
- POINT72 ASSET MANAGEMENT, L.P. removed 1,124,059 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $43,692,173
- ADAGE CAPITAL PARTNERS GP, L.L.C. added 1,075,000 shares (+inf%) to their portfolio in Q1 2026, for an estimated $41,785,250
- ALPS ADVISORS INC removed 1,049,017 shares (-3.5%) from their portfolio in Q2 2026, for an estimated $39,443,039
- BALYASNY ASSET MANAGEMENT L.P. removed 966,137 shares (-99.4%) from their portfolio in Q1 2026, for an estimated $37,553,745
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
