← Hess Midstream Partners LP overview

Hess Midstream Partners LP vs TC Energy: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Hess Midstream Partners LP (HESM)

Q3 2026
▲3

Chevron hands back HESM stake as payouts keep rising

  • Big 7.7% payout, still growing HESM pays a 7.7% yearly cash payout, far above big pipeline peer Enbridge's 4.9%, and management keeps promising at least 5% growth each year through 2028. That steady, rising income is the main reason investors hold the stock and supports its price.

    Explains the income appeal that underpins HESM's valuation.

  • Distribution raised again, as promised HESM lifted its quarterly payout to $0.7888 per Class A share, up from the prior quarter, payable August 14. It is a small raise, but it shows the company is delivering on its 5% annual growth promise, which reassures income investors and supports the unit price.

    A concrete payout increase is a direct positive for an income-focused MLP.

  • Strong Q2 profit, guidance kept Second-quarter earnings beat expectations at 75 cents per share, with an 85% margin and about $232 million of spare cash after spending. Management repeated full-year guidance and expects second-half volumes to top the first half, easing worries about weaker revenue and supporting the stock.

    Solid results and reaffirmed guidance are the core fundamental support for the price.

  • Chevron exits HESM, new terms in place Chevron is handing over its HESM ownership and general partner role plus DJ Basin crude assets for $200 million cash, while extending Bakken contracts that cut its midstream costs about 50%. HESM gains assets and longer contracts but loses its big parent owner, and about $3.7 billion of debt shifts off Chevron's books.

    This ownership and contract overhaul is the biggest new force on HESM's price.

August 2026
▲3

Chevron hands back HESM stake as payouts keep rising

  • Big 7.7% payout, still growing HESM pays a 7.7% yearly cash payout, far above big pipeline peer Enbridge's 4.9%, and management keeps promising at least 5% growth each year through 2028. That steady, rising income is the main reason investors hold the stock and supports its price.

    Explains the income appeal that underpins HESM's valuation.

  • Distribution raised again, as promised HESM lifted its quarterly payout to $0.7888 per Class A share, up from the prior quarter, payable August 14. It is a small raise, but it shows the company is delivering on its 5% annual growth promise, which reassures income investors and supports the unit price.

    A concrete payout increase is a direct positive for an income-focused MLP.

  • Strong Q2 profit, guidance kept Second-quarter earnings beat expectations at 75 cents per share, with an 85% margin and about $232 million of spare cash after spending. Management repeated full-year guidance and expects second-half volumes to top the first half, easing worries about weaker revenue and supporting the stock.

    Solid results and reaffirmed guidance are the core fundamental support for the price.

  • Chevron exits HESM, new terms in place Chevron is handing over its HESM ownership and general partner role plus DJ Basin crude assets for $200 million cash, while extending Bakken contracts that cut its midstream costs about 50%. HESM gains assets and longer contracts but loses its big parent owner, and about $3.7 billion of debt shifts off Chevron's books.

    This ownership and contract overhaul is the biggest new force on HESM's price.

Latest
▲3

Chevron hands back HESM stake as payouts keep rising

  • Big 7.7% payout, still growing HESM pays a 7.7% yearly cash payout, far above big pipeline peer Enbridge's 4.9%, and management keeps promising at least 5% growth each year through 2028. That steady, rising income is the main reason investors hold the stock and supports its price.

    Explains the income appeal that underpins HESM's valuation.

  • Distribution raised again, as promised HESM lifted its quarterly payout to $0.7888 per Class A share, up from the prior quarter, payable August 14. It is a small raise, but it shows the company is delivering on its 5% annual growth promise, which reassures income investors and supports the unit price.

    A concrete payout increase is a direct positive for an income-focused MLP.

  • Strong Q2 profit, guidance kept Second-quarter earnings beat expectations at 75 cents per share, with an 85% margin and about $232 million of spare cash after spending. Management repeated full-year guidance and expects second-half volumes to top the first half, easing worries about weaker revenue and supporting the stock.

    Solid results and reaffirmed guidance are the core fundamental support for the price.

  • Chevron exits HESM, new terms in place Chevron is handing over its HESM ownership and general partner role plus DJ Basin crude assets for $200 million cash, while extending Bakken contracts that cut its midstream costs about 50%. HESM gains assets and longer contracts but loses its big parent owner, and about $3.7 billion of debt shifts off Chevron's books.

    This ownership and contract overhaul is the biggest new force on HESM's price.

TC Energy Corp (TRP)

Q3 2026
▲4

TC Energy lifts outlook, sells Mexico pipeline, advances Coastal GasLink Phase 2

  • Strong Q2 and raised 2026 EBITDA guidance TC Energy beat second-quarter profit estimates and now expects full-year comparable EBITDA at the top of its $11.6–$11.8 billion range. It also sanctioned about $3 billion of new gas pipeline projects in 2026, including $500 million approved in the quarter. Higher earnings and new growth work support the stock.

    This is the period's core earnings and growth news that directly lifts investor expectations for TRP.

  • CEO raises long-term North American gas demand forecast Management now sees North American natural gas demand growing by 51 billion cubic feet a day by 2035, up from 40 billion a year ago, driven by data centers, electrification and coal-to-gas switching. More demand means more need for TC Energy's pipelines and future expansion projects.

    It explains the long-term demand backdrop that underpins TRP's growth story and pipeline expansions.

  • Sells Guadalajara-Manzanillo pipeline for C$560 million TC Energy agreed to sell its Mexican Guadalajara-Manzanillo pipeline to ESENTIA affiliates for about C$560 million and will redeploy the cash into North American growth projects. The sale trims non-core assets and funds higher-return opportunities, though the price versus lost income was not disclosed.

    It is a new capital-recycling move that shifts money toward growth and supports the investment case.

  • Coastal GasLink Phase 2 proceeds after LNG Canada approval LNG Canada's positive final investment decision satisfied conditions for TC Energy's Coastal GasLink Phase 2, which will nearly double capacity on the existing route. LNG Canada leads construction, limiting TC Energy's cost and schedule exposure, and ties the company to future LNG export volumes.

    It is a major new project confirmation that adds long-term contracted growth with limited capital risk.

August 2026
▲4

TC Energy lifts outlook, sells Mexico pipeline, advances Coastal GasLink Phase 2

  • Strong Q2 and raised 2026 EBITDA guidance TC Energy beat second-quarter profit estimates and now expects full-year comparable EBITDA at the top of its $11.6–$11.8 billion range. It also sanctioned about $3 billion of new gas pipeline projects in 2026, including $500 million approved in the quarter. Higher earnings and new growth work support the stock.

    This is the period's core earnings and growth news that directly lifts investor expectations for TRP.

  • CEO raises long-term North American gas demand forecast Management now sees North American natural gas demand growing by 51 billion cubic feet a day by 2035, up from 40 billion a year ago, driven by data centers, electrification and coal-to-gas switching. More demand means more need for TC Energy's pipelines and future expansion projects.

    It explains the long-term demand backdrop that underpins TRP's growth story and pipeline expansions.

  • Sells Guadalajara-Manzanillo pipeline for C$560 million TC Energy agreed to sell its Mexican Guadalajara-Manzanillo pipeline to ESENTIA affiliates for about C$560 million and will redeploy the cash into North American growth projects. The sale trims non-core assets and funds higher-return opportunities, though the price versus lost income was not disclosed.

    It is a new capital-recycling move that shifts money toward growth and supports the investment case.

  • Coastal GasLink Phase 2 proceeds after LNG Canada approval LNG Canada's positive final investment decision satisfied conditions for TC Energy's Coastal GasLink Phase 2, which will nearly double capacity on the existing route. LNG Canada leads construction, limiting TC Energy's cost and schedule exposure, and ties the company to future LNG export volumes.

    It is a major new project confirmation that adds long-term contracted growth with limited capital risk.

Latest
▲4

TC Energy lifts outlook, sells Mexico pipeline, advances Coastal GasLink Phase 2

  • Strong Q2 and raised 2026 EBITDA guidance TC Energy beat second-quarter profit estimates and now expects full-year comparable EBITDA at the top of its $11.6–$11.8 billion range. It also sanctioned about $3 billion of new gas pipeline projects in 2026, including $500 million approved in the quarter. Higher earnings and new growth work support the stock.

    This is the period's core earnings and growth news that directly lifts investor expectations for TRP.

  • CEO raises long-term North American gas demand forecast Management now sees North American natural gas demand growing by 51 billion cubic feet a day by 2035, up from 40 billion a year ago, driven by data centers, electrification and coal-to-gas switching. More demand means more need for TC Energy's pipelines and future expansion projects.

    It explains the long-term demand backdrop that underpins TRP's growth story and pipeline expansions.

  • Sells Guadalajara-Manzanillo pipeline for C$560 million TC Energy agreed to sell its Mexican Guadalajara-Manzanillo pipeline to ESENTIA affiliates for about C$560 million and will redeploy the cash into North American growth projects. The sale trims non-core assets and funds higher-return opportunities, though the price versus lost income was not disclosed.

    It is a new capital-recycling move that shifts money toward growth and supports the investment case.

  • Coastal GasLink Phase 2 proceeds after LNG Canada approval LNG Canada's positive final investment decision satisfied conditions for TC Energy's Coastal GasLink Phase 2, which will nearly double capacity on the existing route. LNG Canada leads construction, limiting TC Energy's cost and schedule exposure, and ties the company to future LNG export volumes.

    It is a major new project confirmation that adds long-term contracted growth with limited capital risk.