Inside the research
DT Midstream, Inc.
DTM Research profile · latest available data
Price overview
$122.28
▼ -2.47 (-2.0%)
| 52w hi | $149.69 |
|---|---|
| 52w lo | $102.85 |
| Vol | 573.50K |
| As of | 25 Sep 2026 |
The Verdict
Our score -0.20
| Short | -0.37 |
|---|---|
| Medium | -0.10 |
| Long | -0.05 |
computed 2026-09-27
Key fundamentals
DT Midstream, Inc.
Energy · Oil & Gas Midstream
| Market cap | $12.47B |
|---|---|
| Enterprise value | $15.82B |
| Trailing P/E | 26.82x |
| Forward P/E | 24.96x |
| EV / EBITDA | 17.19x |
| P / S (ttm) | 9.52x |
| Profit margin | 35.7% |
| Return on equity | 9.9% |
| Revenue growth | +11.0% |
| Earnings growth | +4.8% |
| Debt / equity | 68.54 |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | +0.14 | |
| Sector | +0.09 | |
| Technical | -0.26 | |
| Earnings | +0.00 | |
| Sentiment | +0.00 |
macro × 1.00 · 2026-09-27
Business overview
DT Midstream, Inc., together with its subsidiaries, provides integrated natural gas services in the United States. The company operates in two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines. This segment also engages in the transportation and storage of natural gas for intermediate and end-user customers. The Gathering segment owns and operates gas gathering systems. This segment is involved in the collection of natural gas for delivery to plants for treating, to gathering pipelines for further gathering, or to pipelines for transportation; and associated ancillary services, including compression, dehydration, gas treatment, water impoundment, water transportation, water disposal, and sand mining. It serves natural gas producers, local distribution companies, electric power generators, industrials, and national marketers. The company was incorporated in 2021 and is headquartered in Detroit, Michigan.
Risk Metrics
| Beta vs SPX | 0.59 |
|---|---|
| Corr SPX | 0.36 |
| Annual vol | 26.4% |
| Annual ret | +26.1% |
| Sharpe | 0.99 |
| Max DD | -23.6% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $150.07 |
|---|---|
| High / Low | $169.00 / $127.00 |
| Median | $152.50 |
| Analysts | 14 |
| Strong Buy | 1 | |
|---|---|---|
| Buy | 5 | |
| Hold | 8 | |
| Sell | 1 | |
| Strong Sell | 0 |
Recent rating actions
| 2026-05-05 | Mizuho | → Neutral |
| 2026-05-04 | Citigroup | → Buy |
| 2026-05-01 | Barclays | → Equal-Weight |
| 2026-04-22 | Morgan Stanley | → Equal-Weight |
| 2026-04-20 | Goldman Sachs | → Sell |
| 2026-03-13 | Wells Fargo | → Overweight |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-07-30 | Earnings Release, Reg FD Disclosure… | read |
| 2026-05-12 | Officer / Director Change, Exhibits | read |
| 2026-05-07 | Shareholder Vote | read |
| 2026-04-30 | Earnings Release, Reg FD Disclosure… | read |
| 2026-02-19 | Earnings Release, Reg FD Disclosure… | read |
| 2026-01-29 | Officer / Director Change, Exhibits | read |
| 2025-10-30 | Earnings Release, Reg FD Disclosure… | read |
| 2025-09-22 | Officer / Director Change, Exhibits | read |
| 2025-07-31 | Earnings Release, Reg FD Disclosure… | read |
| 2025-05-20 | Reg FD Disclosure, Exhibits | read |
| 2025-05-09 | Bylaws Amendment, Shareholder Vote… | read |
| 2025-04-30 | Earnings Release, Reg FD Disclosure… | read |
Flow & Concentration
| Insider 180d net | $0 |
|---|---|
| Insider buys / sells | 0 / 0 |
| Insider bias | Neutral |
| 13F holders | 8 |
| Top-5 share | 98.3% |
| HHI | 4,465 (concentrated) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| State Street Corp | $498.45M | 3.38M |
| Citadel Advisors | $168.92M | 1.15M |
| Capital Research / Capital World | $71.93M | 490.15K |
| AQR Capital Management | $31.17M | 212.41K |
| Fidelity / FMR LLC | $12.70M | 86.56K |
| Millennium Management | $8.05M | 54.89K |
| Bridgewater Associates | $5.35M | 36.46K |
| T. Rowe Price Group | $14.24K | 97.08K |
As of 2026-06-30
Dividends
| Yield (TTM) | 1.39% |
|---|---|
| $ / share (TTM) | $1.70 |
| 5y CAGR | — |
Annual dividend per share
| 2021 | $1.20 |
|---|---|
| 2022 | $2.56 |
| 2023 | $2.76 |
| 2024 | $2.94 |
| 2025 | $3.28 |
| 2026 | $0.88 |
SEC Filings
The Long Run
FY 2021–2025 · 5 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $922.00M | +2.4% | |
| Operating income | $614.00M | +11.2% | |
| Net income | $384.00M | +17.1% | |
| Cash from ops | $867.00M | +9.8% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $124.05 | $124.58 | $121.83 | $122.28 | 573.50K |
| Sep 24 | $126.25 | $126.25 | $124.45 | $124.75 | 647.00K |
| Sep 23 | $125.04 | $127.09 | $124.88 | $125.83 | 987.40K |
| Sep 22 | $124.52 | $127.76 | $123.96 | $124.96 | 1.25M |
| Sep 21 | $124.58 | $126.20 | $124.03 | $125.05 | 838.50K |
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