Hess Midstream LP (NYSE:HESM) was downgraded by Raymond James to Market Perform from Outperform without a price target as the firm reshuffled ratings across the midstream supplier group. They emphasized the importance of execution in turning favorable conditions into dependable cash flow. HESM reported a steady operating picture in Q3 2025 with a net income of $176 million. Margins were a key strength, with a gross adjusted EBITDA margin near 80% above the 75% target. The company continued delivering on its distribution framework, including a 5% annual growth per Class A share. HESM provides midstream services for crude oil, natural gas, and natural gas liquids. Despite its potential as an investment, some believe certain AI stocks offer greater upside potential with less downside risk. If you’re looking for an undervalued AI stock, check out the best short-term AI stock report.

Read more at Yahoo Finance: Hess Midstream (HESM) Downgraded at Raymond James in 2026 Midstream Reset