DT Midstream, Inc. (DTM) AI Stock Analysis

DT Midstream, Inc. specializes in providing comprehensive natural gas services across the United States, operating through two distinct segments: Pipeline and Gathering. Its integrated portfolio develops, owns, and operates interstate and intrastate pipelines, storage systems, lateral pipelines, gathering systems, treatment plants, compression facilities, and surface facilities. The Pipeline segment transports natural gas over long distances to various markets, while the Gathering segment collects natural gas from customer sites for distribution. The company also offers ancillary services including compression, dehydration, gas treatment, water impoundment, and sand mining to support producers, electric power generators, local distribution companies, and industrial customers.

From FY2020 to FY2025, revenue achieved a 5-year CAGR of 10.5%, rising from $840.0M in FY2021 to $1.24B in FY2025. Over the same period, net income expanded from $307.0M to $441.0M, with annual operating cash flow growing from $572.0M to $867.0M. Gross margin reached 73.5% in FY2025, while net margin was 35.5%. For the latest quarter ended June 30, 2026, quarterly revenue grew 11.0% year-over-year, while quarterly earnings grew 4.8% year-over-year. TTM revenue reached $1.31B with EPS of $4.57.

As of June 30, 2026, DT Midstream held $172.0M in cash and short-term investments against total debt of $3.37B, resulting in net debt of $3.20B. Shareholders' equity stood at $4.78B, reflecting a debt-to-equity ratio of 0.71 and a current ratio of 1.37. In FY2025, the company generated free cash flow of $441.0M, while funding $426.0M in capital expenditures and paying $324.0M in dividends. Over 5 years, the share count increased by 5.9%.

DTM closed at $123.67 on October 16, 2026, trading at a trailing P/E of 27.1x and a forward P/E of 22.1x, compared to medians of 15.0x and 12.7x for its US-listed Energy peers. The stock's EV/EBITDA of 14.7x also exceeds the peer median of 8.0x. DTM posted a 1-year return of 15.8%, trailing the S&P 500 return of 16.8%, but delivered a 5-year return of 204.3% compared to 83.0% for the S&P 500.

DT Midstream offers a forward annual dividend of $3.52 per share, representing a dividend yield of 2.85%. Dividends have been paid for 6 consecutive years on a quarterly schedule, with the most recent ex-dividend date on September 21, 2026. The payout ratio stands at 75.7%, and total dividends paid in FY2025 amounted to $324.0M.

Analyst ratings comprise 6 Strong Buy, 3 Buy, 5 Hold, 0 Sell, and 1 Strong Sell recommendations. The mean price target of $151.47 sits 22.5% above the last close of $123.67. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $1.36B and EPS of $4.64, representing 7.9% EPS growth. Over the last 4 quarters, the company beat EPS estimates twice. The next earnings date is October 29, 2026.

This page is an AI-written research summary of DT Midstream, Inc. (DTM). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: DTM income statement, DTM balance sheet, DTM key metrics, DTM analyst forecast, DTM chart. See the DTM stock overview for the latest quote and news.