Hess Midstream (HESM) vs Kinder Morgan (KMI)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Kinder Morgan (KMI) has outperformed Hess Midstream (HESM) over the past year, gaining 14.6% versus a gain of 1.7%. Over five years, KMI leads with a +74.7% price change compared with +24.0% for HESM. Kinder Morgan is the larger company by market cap ($71.81 billion vs $7.01 billion), about 10.2 times the size.
On valuation, Hess Midstream trades at a lower forward P/E (10.9x vs 20.9x for Kinder Morgan). Hess Midstream offers the higher dividend yield (9.08% vs 3.66%). Hess Midstream converts more of its revenue into profit, with a net margin of 21.8% versus 18.0%.
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 | HESM | KMI |
|---|---|---|
| Share price | $34.00 | $32.25 |
| Market cap | $7.01B | $71.81B |
| 1-day change | +2.94% | +1.35% |
| YTD return | -1.45% | +17.32% |
| 1-year return | +1.71% | +14.61% |
| 5-year return | +23.95% | +74.70% |
| P/E ratio (TTM) | 11.72 | 20.81 |
| Forward P/E | 10.95 | 20.88 |
| EPS (TTM) | $2.90 | $1.55 |
| Dividend yield | 9.08% | 3.66% |
| Annual dividend | $3.09 | $1.18 |
| Revenue (latest FY) | $1.62B | $16.94B |
| Revenue growth (YoY) | +8.41% | +12.17% |
| Net income (latest FY) | $352.90M | $3.06B |
| Gross margin | — | 67.36% |
| Operating margin | 62.18% | 27.89% |
| Net margin | 21.77% | 18.04% |
| 52-week high | $41.44 | $34.81 |
| 52-week low | $31.63 | $25.60 |
| Distance from 52-week high | -17.95% | -7.35% |
| Analyst consensus | underperform | buy |
| Avg. price target upside | +10.29% | +11.91% |
| Average volume | 1.46M | 11.25M |
| Shares outstanding | 128.35M | 2.23B |
| Employees | — | 11,028 |
| Sector | Energy | Energy |
| Industry | Oil & Gas Midstream | Oil & Gas Midstream |
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
- Kinder Morgan is about 10.2 times larger than Hess Midstream by market value ($71.81B vs $7.01B).
- KMI has outperformed HESM by 12.9 percentage points over the past year.
- Kinder Morgan trades at a higher earnings multiple (20.8x vs 11.7x trailing P/E).
- Hess Midstream offers a meaningfully higher dividend yield (9.08% vs 3.66%).
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 Midstream
About Kinder Morgan
KMI stock →Kinder Morgan, Inc. operates as an energy infrastructure company primarily in North America.
Energy · Oil & Gas Midstream · 11,028 employees
HESM vs KMI FAQ
Which is bigger, Hess Midstream or Kinder Morgan?
Kinder Morgan (KMI) is larger, with a market capitalization of $71.81B compared with $7.01B for Hess Midstream (HESM).
Which stock has performed better over the past year, HESM or KMI?
KMI returned +14.61% over the past 12 months, compared with +1.71% for HESM (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, HESM or KMI?
HESM has the lower trailing P/E at 11.7, versus 20.8 for KMI. 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, Hess Midstream or Kinder Morgan?
Hess Midstream has the higher yield at 9.08%, compared with 3.66% for Kinder Morgan.
Are Hess Midstream and Kinder Morgan in the same industry?
Yes. Both are classified in the Oil & Gas Midstream industry within the Energy sector.