DT Midstream
About: DT Midstream Inc is an owner, operator, and developer of natural gas midstream interstate and intrastate pipelines; storage and gathering systems; and compression, treatment, and surface facilities. It provides multiple, integrated natural gas services to customers through interstate pipelines, intrastate pipelines, storage systems, lateral pipelines and related treatment plants and compression and surface facilities, and gathering systems and related treatment plants and compression and surface facilities. The segments of the group are Pipeline and Gathering. It generates revenue from pipeline, storage, and gathering systems, substantially all of which are located in the Midwestern U.S., Eastern Canada, Northeastern U.S., and Gulf Coast regions.
Employees: 402
0
Funds holding %
of 6,809 funds
0
Analysts bullish %
of 7 analysts
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
1,479% more call options, than puts
Call options by funds: $4.34M | Put options by funds: $275K
40% more first-time investments, than exits
New positions opened: 73 | Existing positions closed: 52
16% more repeat investments, than reductions
Existing positions increased: 156 | Existing positions reduced: 135
8% more capital invested
Capital invested by funds: $5.63B [Q2] → $6.06B (+$429M) [Q3]
4% more funds holding
Funds holding: 472 [Q2] → 493 (+21) [Q3]
2.05% less ownership
Funds ownership: 81.71% [Q2] → 79.66% (-2.05%) [Q3]
25% less funds holding in top 10
Funds holding in top 10: 4 [Q2] → 3 (-1) [Q3]
Research analyst outlook
7 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$83
18%
downside
Avg. target
$97
3%
downside
High target
$115
14%
upside
7 analyst ratings
4 positive
57%
1 neutral
14%
2 negative
29%
Goldman Sachs John Mackay 77% 1-year accuracy 17 / 22 met price target | 7%downside $94 | Sell Maintained | 19 Dec 2024 |
Stifel Selman Akyol 70% 1-year accuracy 19 / 27 met price target | 5%upside $106 | Buy Upgraded | 19 Dec 2024 |
Citigroup Spiro Dounis 77% 1-year accuracy 24 / 31 met price target | 14%upside $115 | Buy Upgraded | 21 Nov 2024 |
Barclays Christine Cho 50% 1-year accuracy 23 / 46 met price target | 9%downside $92 | Overweight Maintained | 4 Nov 2024 |
Wells Fargo Michael Blum 75% 1-year accuracy 24 / 32 met price target | 1%downside $100 | Overweight Maintained | 31 Oct 2024 |
Financial journalist opinion
Positive
Benzinga
2 days ago
Stifel Sees Opportunity In DT Midstream Pullback: Upgrades Rating On Diversified Growth Potential
Stifel analyst Selman Akyol upgraded DT Midstream, Inc. DTM to Buy from Hold and raised the price target to $106 from $89.
Neutral
GlobeNewsWire
2 weeks ago
DT Midstream Announces Closing of Offering of Senior Secured Notes
DETROIT, Dec. 06, 2024 (GLOBE NEWSWIRE) -- DT Midstream, Inc. (“DT Midstream” or the “Company”) (NYSE: DTM) today announced that it has closed the previously announced offering (the “Offering”) of $650,000,000 of 5.800% Senior Secured Notes due 2034 (the “Notes”). The Notes were issued by DT Midstream, guaranteed by certain of DT Midstream's subsidiaries and secured by a first priority lien on certain assets of DT Midstream and its subsidiary guarantors that secure DT Midstream's existing credit facilities and existing senior secured notes.
Neutral
GlobeNewsWire
4 weeks ago
DT Midstream Announces Pricing of Offering of Senior Secured Notes
DETROIT, Nov. 21, 2024 (GLOBE NEWSWIRE) -- DT Midstream, Inc. (“DT Midstream” or the “Company”) (NYSE: DTM) today announced that it has priced an offering (the “Offering”) of $650,000,000 of 5.800% Senior Secured Notes due 2034 (the “Notes”). The Notes will be issued by DT Midstream, guaranteed by certain of DT Midstream's subsidiaries and secured by a first priority lien on certain assets of DT Midstream and its subsidiary guarantors that secure DT Midstream's existing credit facilities and existing senior secured notes. The Offering is expected to close on December 6, 2024, subject to the satisfaction of customary closing conditions.
Neutral
GlobeNewsWire
1 month ago
DT Midstream Announces Pricing of Upsized Public Offering of Common Stock
DETROIT, Nov. 20, 2024 (GLOBE NEWSWIRE) -- DT Midstream, Inc. (NYSE: DTM) today announced the pricing of its previously announced underwritten registered public offering. The size of the offering increased from the previously announced $300,000,000 of shares of common stock to $366,125,000 of shares of the company's common stock at a price to the public of $101 per share, for gross proceeds of approximately $366,125,000, before the underwriting discount and estimated offering expenses. Additionally, the Company has granted the underwriters a 30-day option to purchase up to an additional 543,750 shares of its common stock at the public offering price less the underwriting discounts and commissions. The offering is expected to close on or about November 21, 2024, subject to market and other customary closing conditions.
Neutral
GlobeNewsWire
1 month ago
CORRECTION - DT Midstream Announces $1.2 Billion Acquisition of Strategic Midwest FERC-Regulated Natural Gas Pipelines
In a release issued under the same headline earlier today by DT Midstream, Inc. (NYSE: DTM), please note that in the "Conference Call" paragraph of the release, the call time should be 9:30 a.m. ET (8:30 a.m. CT) on Wednesday, November 20, rather than 8:00 a.m. ET (7:00 a.m. CT) as previously stated. The corrected release follows:
Neutral
GlobeNewsWire
1 month ago
DT Midstream Announces Proposed Public Offering of Common Stock
DETROIT, Nov. 19, 2024 (GLOBE NEWSWIRE) -- DT Midstream, Inc. (NYSE: DTM) announced that it has commenced an underwritten public offering of $300 million of shares of common stock. In connection with this offering, the Company expects to grant the underwriters a 30-day option to purchase up to $45 million of additional shares of common stock at the public offering price, less the underwriting discounts and commissions. The offering is subject to market and other conditions, and there can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Positive
Reuters
1 month ago
DT Midstream to buy three natgas pipelines from ONEOK for $1.2 bln
Pipeline operator DT Midstream said on Tuesday it would acquire a portfolio of three natural gas transmission pipelines from ONEOK for $1.2 billion in cash.
Neutral
PRNewsWire
1 month ago
ONEOK Announces Agreement to Sell Wholly Owned Interstate Natural Gas Pipelines to DT Midstream
Assets to be Sold Include Guardian, Midwestern and Viking Gas Transmission TULSA, Okla. , Nov. 19, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) ("ONEOK") today announced that it has executed a definitive agreement with DT Midstream, Inc. (NYSE: DTM) ("DT Midstream") under which ONEOK will sell its three wholly owned interstate natural gas pipeline systems for a total cash consideration of $1.2 billion subject to customary adjustments.
Neutral
GlobeNewsWire
1 month ago
DT Midstream Announces $1.2 Billion Acquisition of Strategic Midwest FERC-Regulated Natural Gas Pipelines
DETROIT, Nov. 19, 2024 (GLOBE NEWSWIRE) -- DT Midstream, Inc. (NYSE: DTM) today announced that it has reached an agreement to acquire a portfolio of three FERC-regulated natural gas transmission pipelines from ONEOK, Inc. (NYSE: OKE) for $1.2 billion. The pipelines have a total capacity of more than 3.7 Bcf/d with approximately 1,300 miles across seven states in the attractive Midwest market region which is expected to experience continued growth in power demand. The acquisition price represents an approximately 10.5x 2025 EBITDA multiple.
Neutral
Seeking Alpha
1 month ago
DT Midstream, Inc. (DTM) Q3 2024 Earnings Call Transcript
DT Midstream, Inc. (NYSE:DTM ) Q3 2024 Earnings Conference Call October 29, 2024 9:00 AM ET Company Participants Todd Lohrmann - Director of IR David Slater - President and CEO Jeff Jewell - EVP and CFO Conference Call Participants Jeremy Tonet - JP Morgan Michael Blum - Wells Fargo Theresa Chen - Barclays John Mackay - Goldman Sachs Keith Stanley - Wolfe Research Spiro Dounis - Citi Robert Mosca - Mizuho Securities Operator Thank you for standing by. And welcome to the DT Midstream's Third Quarter 2024 Earnings Conference Call.
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