COMPARE · Reviewed August 7, 2026
HESM vs OKE
Verdict: Side-by-side breakdown using the Bull Rankings model. HESM scored 65.1, OKE scored 52.7 — HESM leads.
Compare another set
HESM
Hess Midstream LP
65.1
$39.80 · $8.2B
fundamentals as of
Score gap
12.4
HESM leads
OKE
ONEOK, Inc.
52.7
$86.42 · $54.5B
fundamentals as of
The model, pillar by pillar (0–100 each)
HESM
stronger →← stronger
OKE
82
Qualityreturns · margins · balance sheet
66
50
Growthrevenue & earnings expansion
50
67
Valuevaluation vs sector peers
44
HESM is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
HESM
OKE
$838mC+
FCF
$2.8bB
+2.8%C
Rev
+40.8%A
—
D/E
1.43C
13.7xB
P/E
14.9xB
1.64C+
PEG
2.08C
Winner per row is the stronger grade in our model; a tie or a missing value shows no highlight.
Valuation · DCF cross-check
HESM
OKE
59% below
Price vs fair valuelower is cheaper
4% below
~-17%/yr
Growth the price implies10-yr FCF · lower = less priced in
~4%/yr
+145%
1-yr DCF upside
+1%
+142%
5-yr DCF upside
+5%
+139%
10-yr DCF upside
+11%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
HESM
Why this score
- Raising its dividend
- Diluting shareholders
- Cyclical growth
- Short track record
OKE
Why this score
- Cyclical growth
The companies
HESMHess Midstream LP
Why now
Oil & Gas Midstream · market cap $8.2b. 6% off the 52-week high of $42.22. 6 sell-side analysts rate this an Underperform with a mean 1-yr target of $37.33 (implying -6% upside).
Moat
Net margin 23% sits well above the S&P median (~11%) — suggests structural pricing advantage or cost discipline competitors can't quickly close. Free cash flow runs well ahead of reported net income — non-cash charges (depreciation, intangible amortization) are holding down GAAP earnings while cash generation stays strong.
Risk
Dividend payout 105% of earnings on a 7.7% yield — distribution coverage is thin; one earnings stumble could force a dividend cut. Hedge-book exposure — many commodity producers hedge forward production; if the hedge book is concentrated at prices well below spot, the upside the market expects is already locked away.
OKEONEOK, Inc.
Why now
Oil & Gas Midstream · market cap $54.5b. 10% off the 52-week high of $96.07. Revenue growing +41% — in hypergrowth territory. 21 sell-side analysts rate this a Buy with a mean 1-yr target of $96.14 (implying +11% upside).
Moat
ROE 16% sits above Buffett's preferred 15% threshold — the equity base is compounding at a rate the market struggles to discount accurately. $54.5b market cap gives the company enough scale to absorb fixed costs that subscale competitors can't, without yet being so large that growth has to come from acquisition.
Risk
Dividend payout 73% of earnings on a 4.9% yield — distribution coverage is thin; one earnings stumble could force a dividend cut. Jurisdictional + permitting risk — mining and extraction operations concentrate exposure to political stability, royalty regimes, and environmental review timelines that can stall production for years.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.