Energy Transfer (ET) vs Hess Midstream (HESM)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Energy Transfer is the larger company by market cap ($71.00 billion vs $7.01 billion), about 10.1 times the size, while Hess Midstream is growing revenue faster (+8.4% vs +3.5%). On valuation, Hess Midstream trades at a lower forward P/E (10.9x vs 11.8x for Energy Transfer). Hess Midstream offers the higher dividend yield (9.08% vs 6.52%).
Hess Midstream converts more of its revenue into profit, with a net margin of 21.8% versus 5.2%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | ET | HESM |
|---|---|---|
| Share price | $20.62 | $34.00 |
| Market cap | $71.00B | $7.01B |
| 1-day change | +0.68% | +2.94% |
| YTD return | — | -1.45% |
| 1-year return | — | +1.71% |
| 5-year return | — | +23.95% |
| P/E ratio (TTM) | 14.12 | 11.72 |
| Forward P/E | 11.82 | 10.95 |
| EPS (TTM) | $1.46 | $2.90 |
| Dividend yield | 6.52% | 9.08% |
| Annual dividend | $1.35 | $3.09 |
| Revenue (latest FY) | $85.54B | $1.62B |
| Revenue growth (YoY) | +3.47% | +8.41% |
| Net income (latest FY) | $4.43B | $352.90M |
| Gross margin | 25.77% | — |
| Operating margin | 10.55% | 62.18% |
| Net margin | 5.18% | 21.77% |
| 52-week high | $21.84 | $41.44 |
| 52-week low | $16.18 | $31.63 |
| Distance from 52-week high | -5.59% | -17.95% |
| Analyst consensus | strong_buy | underperform |
| Avg. price target upside | +19.98% | +10.29% |
| Average volume | 8.88M | 1.46M |
| Shares outstanding | 3.44B | 128.35M |
| Employees | 22,311 | — |
| Sector | Energy | Energy |
| Industry | Oil & Gas Midstream | Oil & Gas Production |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Energy Transfer is about 10.1 times larger than Hess Midstream by market value ($71.00B vs $7.01B).
- Hess Midstream offers a meaningfully higher dividend yield (9.08% vs 6.52%).
- Hess Midstream is more profitable, keeping 21.8 cents of every revenue dollar as net income versus 5.2 cents for Energy Transfer.
About Energy Transfer
ET stock →Energy Transfer LP, together with its subsidiaries, provides energy-related services in the United States. It operates through Intrastate Transportation and Storage; Interstate Transportation and Storage; Midstream; Natural Gas Liquid (NGL) and Refined Products Transportation and Services; Crude Oil Transportation and Services; Investment in Sunoco LP; Investment in USA Compression Partners, LP (USAC); and All Other segments.
Energy · Oil & Gas Midstream · 22,311 employees
About Hess Midstream
HESM stock →Hess Midstream LP acquires, owns, operates, and develops midstream assets and provide fee-based services to sponsor, its subsidiaries, and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export.
Energy · Oil & Gas Production
ET vs HESM FAQ
Which is bigger, Energy Transfer or Hess Midstream?
Energy Transfer (ET) is larger, with a market capitalization of $71.00B compared with $7.01B for Hess Midstream (HESM).
Which has the lower P/E ratio, ET or HESM?
HESM has the lower trailing P/E at 11.7, versus 14.1 for ET. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Energy Transfer or Hess Midstream?
Hess Midstream has the higher yield at 9.08%, compared with 6.52% for Energy Transfer.
Are Energy Transfer and Hess Midstream in the same industry?
Both are in the Energy sector, but in different industries: Oil & Gas Midstream for Energy Transfer and Oil & Gas Production for Hess Midstream.