DT Midstream (DTM)
Transports, stores, and gathers natural gas from producer basins to North American demand markets.
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Operates Pipeline and Gathering businesses that transport, store, and collect natural gas from the Haynesville and Appalachia regions to Midwest, Northeast, Gulf Coast, and Canadian markets. Revenue depends on contracted infrastructure serving producers, utilities, power plants, industrial customers, and other gas buyers.
Operates natural-gas infrastructure through Pipeline and Gathering. Pipeline transports and stores gas across interstate and intrastate systems, while Gathering collects production in the Haynesville and Appalachia regions and moves it toward processing and transportation links.
Connects producer basins with utility, power, industrial, and other demand markets across the Midwest, Northeast, Gulf Coast, and Canada. The portfolio combines inherited DTE Energy assets with expanded LEAP capacity, a controlling Millennium Pipeline interest, and Guardian, Midwestern, and Viking systems.
Executes by operating assets safely and reliably, integrating acquisitions, and expanding contracted corridors. Results depend on natural-gas demand, long-term contract performance and renewal, customer credit quality, regulatory approvals and rate treatment, timely construction, and reliable operation of capital-intensive infrastructure.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 16, 2026 | Jefferies | Reiterate | Rating: —Target: $155 | Target: $145 |
| Sep 10, 2026 | Scotiabank | Reiterate | Rating: —Target: $176 | Target: $168 |
| Sep 10, 2026 | Morgan Stanley | Upgrade | ||
| Sep 9, 2026 | Morgan Stanley | Upgrade | ||
| Aug 26, 2026 | Wolfe Research | Upgrade | Target: $53 | Target: $145 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $172.0M · Total debt $3.37B · Total assets $10.21B · Shareholders' equity $4.78B
- Revenue
- $343.0M
- Operating income
- $173.0M
- Net income
- $112.0M
HistoryDividendAnnual yield
| Institutions | 88.36% | 90.14M shares | |
|---|---|---|---|
| 719 holders · as of Jun 30, 2026 | |||
| Insiders | 0.55% | 557.1K shares | |
| 13 holders · as of Sep 18, 2026 | |||
| Other | 11.09% | 11.31M shares | |
| remainder | |||
102.02M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 11.17% | 11.40M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.66% | 5.78M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.52% | 4.61M | as of Jun 30, 2026 |
Geode Capital Management, LLCInstitution | 3.33% | 3.40M | as of Jun 30, 2026 |
State Street CorpInstitution | 3.31% | 3.38M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 7, 2026 | Elaine M. Pickle | director | +1,500 | $132.61 |
| Aug 5, 2026 | Jeffrey A. Jewell | officer: Executive V.P., CFO | +145 | $133.78 |
| May 15, 2026 | Jeffrey A. Jewell | officer: Executive V.P., CFO | +150 | $147.73 |
| Feb 26, 2026 | Peter I. Tumminello | director | −2,002 | $135.79 |
| Feb 25, 2026 | Jeffrey A. Jewell | officer: Executive V.P., CFO | +185 | $136.33 |
- Williams
Overlaps in gas transmission and Appalachia and Haynesville gathering
- Kinder Morgan
Large-scale rival in gas transport, storage, and Haynesville gathering
- Energy Transfer
Gas pipeline and storage rival across Haynesville and Midwest corridors
- MPLX
Appalachia rival in gas gathering and producer midstream services
- Enbridge
Overlaps in Northeast gas transmission and Great Lakes storage
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| DT Midstream | $125.67 | +0.50% | $12.76B | 27.4 | 26.4 | 9.7 | +11.0% |
| Williams | $71.56 | −0.13% | $87.64B | 28.4 | 29.8 | 7.2 | +10.2% |
| Kinder Morgan | $31.39 | −1.06% | $70.63B | 20.3 | 21.2 | 3.9 | +10.8% |
| Energy Transfer | $20.83 | −0.36% | $71.92B | 13.0 | 12.7 | 0.7 | +78.4% |
| MPLX | $59.67 | +0.98% | $59.96B | 12.7 | 13.0 | 4.7 | +10.6% |
| Enbridge | $48.15 | −0.10% | $105.25B | 23.5 | 23.2 | 1.6 | +89.7% |
| Median | 20.3 | 21.2 | 3.9 | +10.8% |