Hess Midstream (HESM) vs Southwest Gas (SWX)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Southwest Gas (SWX) has outperformed Hess Midstream (HESM) over the past year, gaining 6.1% versus a loss of 1.5%. Over five years, SWX leads with a +22.3% price change compared with +17.6% for HESM. Hess Midstream is the larger company by market cap ($6.65 billion vs $6.10 billion), about 1.1 times the size.
On valuation, Hess Midstream trades at a lower forward P/E (10.4x vs 16.8x for Southwest Gas). Hess Midstream offers the higher dividend yield (9.57% vs 2.98%). Southwest Gas converts more of its revenue into profit, with a net margin of 22.7% 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 | SWX |
|---|---|---|
| Share price | $32.26 | $84.14 |
| Market cap | $6.65B | $6.10B |
| 1-day change | -5.12% | +0.75% |
| YTD return | -6.49% | +5.15% |
| 1-year return | -1.53% | +6.06% |
| 5-year return | +17.61% | +22.35% |
| P/E ratio (TTM) | 11.73 | 21.04 |
| Forward P/E | 10.39 | 16.83 |
| EPS (TTM) | $2.75 | $4.00 |
| Dividend yield | 9.57% | 2.98% |
| Annual dividend | $3.09 | $2.51 |
| Revenue (latest FY) | $1.62B | $1.94B |
| Revenue growth (YoY) | +8.41% | -21.61% |
| Net income (latest FY) | $352.90M | $439.83M |
| Operating margin | 62.18% | 24.42% |
| Net margin | 21.77% | 22.67% |
| 52-week high | $41.44 | $94.47 |
| 52-week low | $31.63 | $76.74 |
| Distance from 52-week high | -22.15% | -10.93% |
| Analyst consensus | underperform | strong_buy |
| Avg. price target upside | +16.24% | +19.44% |
| Average volume | 1.48M | 573.54K |
| Shares outstanding | 128.35M | 72.45M |
| Employees | — | 2,453 |
| Sector | Energy | Utilities |
| Industry | Oil & Gas Production | 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
- Southwest Gas trades at a higher earnings multiple (21.0x vs 11.7x trailing P/E).
- Hess Midstream offers a meaningfully higher dividend yield (9.57% vs 2.98%).
- Hess Midstream grew revenue faster in its latest fiscal year (+8.41% vs -21.61%).
- The two companies sit in different sectors: Hess Midstream in Energy and Southwest Gas in Utilities.
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 Southwest Gas
SWX stock →Southwest Gas Holdings, Inc., through its subsidiary, Southwest Gas Corporation, purchases, distributes, and transports natural gas for residential, commercial, and industrial customers in Arizona, Nevada, and California in the United States. The company offers tariff sales and transportation services.
Utilities · Oil & Gas Production · 2,453 employees
HESM vs SWX FAQ
Which is bigger, Hess Midstream or Southwest Gas?
Hess Midstream (HESM) is larger, with a market capitalization of $6.65B compared with $6.10B for Southwest Gas (SWX).
Which stock has performed better over the past year, HESM or SWX?
SWX returned +6.06% over the past 12 months, compared with -1.53% for HESM (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, HESM or SWX?
HESM has the lower trailing P/E at 11.7, versus 21.0 for SWX. 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 Southwest Gas?
Hess Midstream has the higher yield at 9.57%, compared with 2.98% for Southwest Gas.
Are Hess Midstream and Southwest Gas in the same industry?
Yes. Both are classified in the Oil & Gas Production industry within the Energy sector.