Is Hess Midstream LP overvalued or undervalued?

As of 25 April 2018, the valuation grade for Hess Midstream LP moved from expensive to very attractive, indicating a significant improvement in its perceived value. The company is currently considered undervalued, with a P/E ratio of 12, an EV to EBITDA of 10.32, and a remarkable ROE of 109.51%.
In comparison to its peers, Hess Midstream LP's P/E ratio is more favorable than Permian Resources Corp., which has a P/E of 9.23, and National Fuel Gas Co., which is rated very expensive with a P/E of 11.42. Additionally, the company's EV to EBITDA ratio of 10.32 is lower than that of National Fuel Gas Co. at 8.28, further supporting its attractive valuation. Despite recent underperformance against the S&P 500 over the past week and month, Hess Midstream LP has shown strong returns over the longer term, with a 5-year return of 136.27% compared to the S&P 500's 96.61%, reinforcing its potential as a valuable investment.