Hess Midstream (HESM) vs MPLX (MPLX)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
MPLX (MPLX) has outperformed Hess Midstream (HESM) over the past year, gaining 17.4% versus a gain of 1.7%. Over five years, MPLX leads with a +84.2% price change compared with +24.0% for HESM. MPLX is the larger company by market cap ($57.00 billion vs $6.73 billion), about 8.5 times the size.
On valuation, Hess Midstream trades at a lower forward P/E (10.5x vs 11.7x for MPLX). Hess Midstream offers the higher dividend yield (9.45% vs 7.66%). MPLX converts more of its revenue into profit, with a net margin of 38.1% versus 21.8%.
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 | MPLX |
|---|---|---|
| Share price | $32.67 | $56.22 |
| Market cap | $6.73B | $57.00B |
| 1-day change | -3.93% | -1.92% |
| YTD return | -1.45% | +7.40% |
| 1-year return | +1.71% | +17.36% |
| 5-year return | +23.95% | +84.19% |
| P/E ratio (TTM) | 11.26 | 12.09 |
| Forward P/E | 10.52 | 11.66 |
| EPS (TTM) | $2.90 | $4.65 |
| Dividend yield | 9.45% | 7.66% |
| Annual dividend | $3.09 | $4.31 |
| Revenue (latest FY) | $1.62B | $13.00B |
| Revenue growth (YoY) | +8.41% | +8.92% |
| Net income (latest FY) | $352.90M | $4.95B |
| Operating margin | 62.18% | 45.72% |
| Net margin | 21.77% | 38.10% |
| 52-week high | $41.44 | $60.95 |
| 52-week low | $31.63 | $47.80 |
| Distance from 52-week high | -21.18% | -7.76% |
| Analyst consensus | underperform | buy |
| Avg. price target upside | +14.80% | +11.80% |
| Average volume | 1.46M | 1.40M |
| Shares outstanding | 128.35M | 1.01B |
| Sector | Energy | Energy |
| Industry | Oil & Gas Production | Natural Gas Distribution |
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
- MPLX is about 8.5 times larger than Hess Midstream by market value ($57.00B vs $6.73B).
- MPLX has outperformed HESM by 15.7 percentage points over the past year.
- Hess Midstream offers a meaningfully higher dividend yield (9.45% vs 7.66%).
- MPLX is more profitable, keeping 38.1 cents of every revenue dollar as net income versus 21.8 cents for Hess Midstream.
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
About MPLX
MPLX stock →MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Crude Oil and Products Logistics; and Natural Gas and NGL Services.
Energy · Natural Gas Distribution
HESM vs MPLX FAQ
Which is bigger, Hess Midstream or MPLX?
MPLX (MPLX) is larger, with a market capitalization of $57.00B compared with $6.73B for Hess Midstream (HESM).
Which stock has performed better over the past year, HESM or MPLX?
MPLX returned +17.36% 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 MPLX?
HESM has the lower trailing P/E at 11.3, versus 12.1 for MPLX. 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 MPLX?
Hess Midstream has the higher yield at 9.45%, compared with 7.66% for MPLX.
Are Hess Midstream and MPLX in the same industry?
Both are in the Energy sector, but in different industries: Oil & Gas Production for Hess Midstream and Natural Gas Distribution for MPLX.