<ul>
<li>最近，Raymond James 将 Hess Midstream 的评级从跑赢大盘下调至市场表现，理由是短期增长前景有限，同时该公司在董事 Andrew B. Walz 辞职成为雪佛龙的高管后重组了董事会。</li>
<li>分析师观点的降温与雪佛龙影响下的治理变更相结合，重新引发了关于 Hess Midstream 中期增长路径和独立性的质疑。</li>
<li>接下来，我们将探讨 Raymond James 的下调，围绕温和的增长预期，可能如何影响 Hess Midstream 之前以增长为中心的投资叙事。</li>
</ul>
<p>我们发现了 14 只预计明年将支付超过 6% 股息收益率的美国股票。查看完整列表，免费获取。</p>
<h2>Hess Midstream 投资叙事回顾</h2>
<p>要拥有 Hess Midstream，您真的需要相信其与 Hess / 雪佛龙的收费合同的持久性以及其巴肯基础设施的长期性。Raymond James 的下调，集中在短期增长放缓上，并未实质性改变关键的短期催化剂，即持续的现金生成支持分配，或最大风险，即 Hess Midstream 对 Hess / 雪佛龙在巴肯的生产和资本配置的依赖。</p>
<p>最近的 2026 指导，指向相对平稳的收益和有限的量增长，是此次下调最相关的背景。这强化了 Hess Midstream 可能面临一个较为平静的增长期，直到任何潜在的回升，这使得人们更加关注雪佛龙如何优先考虑巴肯开发和中游利用，以及该公司在管理杠杆和资本需求的同时，能否可靠地持续资助其目标分配增长。</p>
<p>但尽管分配在增长，投资者也应意识到围绕雪佛龙长期钻探决策的集中风险，以及...</p>
<p>阅读关于 Hess Midstream 的完整叙事（免费！）</p>
<p>Hess Midstream 的叙事预计到 2028 年收入为 21 亿美元，收益为 7.691 亿美元。</p>
<p>揭示 Hess Midstream 的预测如何得出 36.86 美元的公允价值，相较于当前价格有 6% 的上行空间。</p>
<h2>探索其他观点</h2>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/afcd6266-a782-464a-86b4-183a94f7ba49/chart/quote-price?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1510" height="1044" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/afcd6266-a782-464a-86b4-183a94f7ba49/chart/quote-price"/></p>
<p>HESM 1 年股票价格走势图</p>
<p>Simply Wall St 社区的六个公允价值估计范围大致在每股 11.87 美元到 73.11 美元之间，突显了对 Hess Midstream 潜力的截然不同的看法。当您将这些与其对雪佛龙支持的最低量承诺的依赖并排放置时，这强调了许多读者在决定对该单一客户的暴露感到多么舒适之前，想要比较多个观点的原因。</p>
<p>探索关于 Hess Midstream 的其他 6 个公允价值估计 - 为什么该股票可能价值不到当前价格的一半！</p>
<h2>自建 Hess Midstream 叙事</h2>
<p>不同意现有叙事？在 3 分钟内创建您自己的叙事 - 非凡的投资回报通常不是来自跟随人群。</p>
<ul>
<li>开展 Hess Midstream 研究的一个良好起点是我们的分析，强调 3 个关键回报和 2 个可能影响您投资决策的重要警示信号。</li>
<li>我们的免费 Hess Midstream 研究报告提供了全面的基本面分析，以单一视觉 - 雪花图 - 总结，使您能够一目了然地评估 Hess Midstream 的整体财务健康状况。</li>
</ul>
<h2>对其他可能性感兴趣？</h2>
<p>市场变化迅速。这些股票不会长时间被隐藏。抓住机会获取列表：</p>
<ul>
<li>寻找现金流潜力良好但交易价格低于公允价值的公司。</li>
<li>人工智能即将改变医疗保健。这 29 只股票正在从早期诊断到药物发现等各个方面进行工作。最棒的是 - 它们的市值都在 100 亿美元以下 - 仍然有机会提前进入。</li>
<li>特朗普承诺要 “释放” 美国的石油和天然气，这 22 只美国股票的发展有望受益。</li>
</ul>
<p><em>本文由 Simply Wall St 撰写，性质为一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也不考虑您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>

HESM

雪佛龙

<p>Raymond James 将 Hess Midstream 的评级从 “跑赢大盘” 下调至 “市场表现”，理由是其增长前景有限。董事 Andrew B. Walz 辞职加入雪佛龙引发了对 Hess Midstream 增长和独立性的担忧。此次下调强调了公司对 Hess/雪佛龙的生产和资本配置的依赖，预计 2026 年的收益将持平。投资者应考虑与雪佛龙钻探决策相关的风险，以及对 Hess Midstream 的不同公允价值估计，范围从每股 11.87 美元到 73.11 美元不等</p>

<ul>
<li>Recently, Raymond James cut its rating on Hess Midstream from Outperform to Market Perform, citing limited near-term growth prospects, while the company also reshaped its board after director Andrew B. Walz resigned to become an executive officer at Chevron.</li>
<li>This combination of a cooler analyst view and governance changes tied to Chevron’s influence raises fresh questions about Hess Midstream’s medium-term growth path and independence.</li>
<li>Next, we’ll examine how Raymond James’ downgrade, centered on subdued growth expectations, may affect Hess Midstream’s previously growth-focused investment narrative.</li>
</ul>
<div class="lb-trans"><ul>
<li>最近，Raymond James 将 Hess Midstream 的评级从跑赢大盘下调至市场表现，理由是短期增长前景有限，同时该公司在董事 Andrew B. Walz 辞职成为雪佛龙的高管后重组了董事会。</li>
<li>分析师观点的降温与雪佛龙影响下的治理变更相结合，重新引发了关于 Hess Midstream 中期增长路径和独立性的质疑。</li>
<li>接下来，我们将探讨 Raymond James 的下调，围绕温和的增长预期，可能如何影响 Hess Midstream 之前以增长为中心的投资叙事。</li>
</ul>
</div><p>We've found 14 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free.</p>
<div class="lb-trans"><p>我们发现了 14 只预计明年将支付超过 6% 股息收益率的美国股票。查看完整列表，免费获取。</p>
</div><h2>Hess Midstream Investment Narrative Recap</h2>
<div class="lb-trans"><h2>Hess Midstream 投资叙事回顾</h2>
</div><p>To own Hess Midstream, you really need to believe in the durability of its fee-based contracts with Hess / Chevron and the long life of its Bakken infrastructure. Raymond James’ downgrade, focused on softer near term growth, does not materially change the key near term catalyst, which is consistent cash generation supporting distributions, or the biggest risk, which remains Hess Midstream’s reliance on Hess / Chevron’s production and capital allocation in the Bakken.</p>
<div class="lb-trans"><p>要拥有 Hess Midstream，您真的需要相信其与 Hess / 雪佛龙的收费合同的持久性以及其巴肯基础设施的长期性。Raymond James 的下调，集中在短期增长放缓上，并未实质性改变关键的短期催化剂，即持续的现金生成支持分配，或最大风险，即 Hess Midstream 对 Hess / 雪佛龙在巴肯的生产和资本配置的依赖。</p>
</div><p>The recent 2026 guidance, pointing to relatively flat earnings and limited volume growth, is the most relevant backdrop for this downgrade. It reinforces that Hess Midstream may face a quieter growth period before any potential pickup, which puts even more attention on how Chevron prioritizes Bakken development and midstream utilization, and how reliably the company can keep funding its targeted distribution growth while managing leverage and capital needs.</p>
<div class="lb-trans"><p>最近的 2026 指导，指向相对平稳的收益和有限的量增长，是此次下调最相关的背景。这强化了 Hess Midstream 可能面临一个较为平静的增长期，直到任何潜在的回升，这使得人们更加关注雪佛龙如何优先考虑巴肯开发和中游利用，以及该公司在管理杠杆和资本需求的同时，能否可靠地持续资助其目标分配增长。</p>
</div><p>But while distributions have been growing, investors should also be aware of the concentration risk around Chevron’s long term drilling decisions and how...</p>
<div class="lb-trans"><p>但尽管分配在增长，投资者也应意识到围绕雪佛龙长期钻探决策的集中风险，以及...</p>
</div><p>Read the full narrative on Hess Midstream (it's free!)</p>
<div class="lb-trans"><p>阅读关于 Hess Midstream 的完整叙事（免费！）</p>
</div><p>Hess Midstream's narrative projects $2.1 billion revenue and $769.1 million earnings by 2028.</p>
<div class="lb-trans"><p>Hess Midstream 的叙事预计到 2028 年收入为 21 亿美元，收益为 7.691 亿美元。</p>
</div><p>Uncover how Hess Midstream's forecasts yield a $36.86 fair value, a 6% upside to its current price.</p>
<div class="lb-trans"><p>揭示 Hess Midstream 的预测如何得出 36.86 美元的公允价值，相较于当前价格有 6% 的上行空间。</p>
</div><h2>Exploring Other Perspectives</h2>
<div class="lb-trans"><h2>探索其他观点</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/afcd6266-a782-464a-86b4-183a94f7ba49/chart/quote-price" alt="" original-src="https://images.simplywall.st/company/afcd6266-a782-464a-86b4-183a94f7ba49/chart/quote-price"/></p>
<p>HESM 1-Year Stock Price Chart</p>
<div class="lb-trans"><p>HESM 1 年股票价格走势图</p>
</div><p>Six fair value estimates from the Simply Wall St Community span roughly US$11.87 to US$73.11 per share, highlighting very different views of Hess Midstream’s potential. When you set these side by side with its dependence on Chevron backed minimum volume commitments, it underlines why many readers will want to compare several viewpoints before deciding how comfortable they are with that single customer exposure.</p>
<div class="lb-trans"><p>Simply Wall St 社区的六个公允价值估计范围大致在每股 11.87 美元到 73.11 美元之间，突显了对 Hess Midstream 潜力的截然不同的看法。当您将这些与其对雪佛龙支持的最低量承诺的依赖并排放置时，这强调了许多读者在决定对该单一客户的暴露感到多么舒适之前，想要比较多个观点的原因。</p>
</div><p>Explore 6 other fair value estimates on Hess Midstream - why the stock might be worth less than half the current price!</p>
<div class="lb-trans"><p>探索关于 Hess Midstream 的其他 6 个公允价值估计 - 为什么该股票可能价值不到当前价格的一半！</p>
</div><h2>Build Your Own Hess Midstream Narrative</h2>
<div class="lb-trans"><h2>自建 Hess Midstream 叙事</h2>
</div><p>Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.</p>
<div class="lb-trans"><p>不同意现有叙事？在 3 分钟内创建您自己的叙事 - 非凡的投资回报通常不是来自跟随人群。</p>
</div><ul>
<li>A great starting point for your Hess Midstream research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.</li>
<li>Our free Hess Midstream research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Hess Midstream's overall financial health at a glance.</li>
</ul>
<div class="lb-trans"><ul>
<li>开展 Hess Midstream 研究的一个良好起点是我们的分析，强调 3 个关键回报和 2 个可能影响您投资决策的重要警示信号。</li>
<li>我们的免费 Hess Midstream 研究报告提供了全面的基本面分析，以单一视觉 - 雪花图 - 总结，使您能够一目了然地评估 Hess Midstream 的整体财务健康状况。</li>
</ul>
</div><h2>Interested In Other Possibilities?</h2>
<div class="lb-trans"><h2>对其他可能性感兴趣？</h2>
</div><p>Markets shift fast. These stocks won't stay hidden for long. Get the list while it matters:</p>
<div class="lb-trans"><p>市场变化迅速。这些股票不会长时间被隐藏。抓住机会获取列表：</p>
</div><ul>
<li>Find companies with promising cash flow potential yet trading below their fair value.</li>
<li>AI is about to change healthcare. These 29 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early.</li>
<li>Trump has pledged to &#34;unleash&#34; American oil and gas and these 22 US stocks have developments that are poised to benefit.</li>
</ul>
<div class="lb-trans"><ul>
<li>寻找现金流潜力良好但交易价格低于公允价值的公司。</li>
<li>人工智能即将改变医疗保健。这 29 只股票正在从早期诊断到药物发现等各个方面进行工作。最棒的是 - 它们的市值都在 100 亿美元以下 - 仍然有机会提前进入。</li>
<li>特朗普承诺要 “释放” 美国的石油和天然气，这 22 只美国股票的发展有望受益。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，性质为一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也不考虑您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
</div>

Raymond James 的降级以及与雪佛龙相关的董事会变动是否正在改变 Hess Midstream (HESM) 的投资前景？