HESM Overview

Upcoming Ex-Dividend Dates: Armstrong World Industries Inc (AWI), Crown Holdings Inc (CCK), and Hess Midstream LP (HESM) will trade ex-dividend on 11/6/25, with respective dividends of $0.339, $0.26, and $0.7548 payable on 11/20/25 and 11/14/25.

Expected Price Adjustments: Following the ex-dividend date, shares of AWI, CCK, and HESM are expected to open lower by approximately 0.18%, 0.27%, and 2.19%, respectively, based on their recent stock prices.

Dividend Yield Estimates: The estimated annualized yields for the upcoming dividends are 0.70% for AWI, 1.07% for CCK, and 8.76% for HESM, indicating varying levels of return for investors.

Current Stock Performance: As of the latest trading session, AWI shares are up about 1.1%, CCK shares are flat, and HESM shares have increased by approximately 1.5%.

Operational Performance: Hess Midstream reported strong operational results in Q3 2025, with increased gas throughputs despite challenges from localized flooding. The company executed a $100 million share repurchase and raised distributions by 2.4%, aiming for a 10% annualized increase for Class A shares.

Financial Guidance: The company narrowed its full-year guidance for net income and adjusted EBITDA, expecting net income between $685 million to $695 million and adjusted EBITDA between $1.245 billion to $1.255 billion. Capital expenditures were reduced to approximately $270 million following the suspension of the Capa gas plant project.

Future Outlook: Management anticipates flat fourth-quarter volumes due to lower expected third-party volumes and scheduled maintenance. Guidance for 2026 and 2028 minimum volume commitments will be released after the budget process concludes in December.

Analyst Sentiment: Analysts maintained a neutral tone, focusing on capital allocation and operational trends, while management emphasized financial discipline and the importance of collaboration with Chevron as a sponsor. The sentiment remained steady, with a focus on free cash flow growth and shareholder returns.