Hess Midstream (HESM) shares were down 8.2% in recent Friday trading after a Wells Fargo downgrade, likely driven by the company's updated Q3 and 2025 guidance.
Wells Fargo downgraded the company's stock to equalweight from overweight and lowered its price target to $39 from $48.
Hess said Thursday it expects its Q3 net income and adjusted earnings before interest, taxes, depreciation, and amortization to be at the lower end of its previous guidance range, and 2025 net income and adjusted EBITDA to be in the lower half of its previous outlook.
Price: 36.26, Change: -3.22, Percent Change: -8.16