DT Midstream (DTM)
Energy · Natural gas midstream infrastructure
DT Midstream operates contracted natural gas gathering, interstate/intrastate pipelines, and storage infrastructure across North America, generating stable fixed-revenue streams from major shale producers and energy companies.
What DT Midstream does
DT Midstream owns and operates natural gas gathering, transportation, and storage infrastructure across the Midwestern U.S., Northeastern U.S., Canada, and Gulf Coast regions. The company operates interstate and intrastate pipelines, gathering systems, compression facilities, and storage complexes that connect shale gas producers to downstream markets. DT Midstream earns stable, contracted revenues through firm service agreements with long-term fixed demand charges and minimum volume commitments.
Themes: ["Natural gas midstream infrastructure","Shale gas gathering and transportation","Pipeline transportation","Energy transition infrastructure","Contracted cash flows"]
Fundamentals
- Price$147.34 as of 2026-07-09 close
- Market cap$15.0B as of 2026-07-10
- 1-year return+42.0% as of 2026-07-09 close
- P/E32.46 as of 2026-07-10
- Net margin+36.3% as of 2026-07-10
- ROE+9.8% as of 2026-07-10
- Debt / equity0.70 as of 2026-07-10
- Revenue growth (YoY)+22.2% as of 2026-07-10
- Revenue CAGR (3y)+10.6% SEC XBRL
- Beta0.73 as of 2026-07-10
Dividend: yield +2.3%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["High customer concentration: Expand Energy represents ~45% of operating revenues, creating material risk from loss or reduction in volumes from this key customer","Operational dependency: Reliance on third-party pipeline interconnects and downstream facilities outside company control; interruptions could materially reduce throughput and revenues","Natural gas demand risk: Reduction in natural gas production volumes, alternative fuel sources, renewable energy adoption, and government constraints on natural gas could materially decline throughput and service revenues"]
Competitors & peers
- Enbridge Inc. (ENB)
- Kinder Morgan Inc. (KMI)
- TC Energy Corporation (TRP)
- ONEOK Inc. (OKE)
- Williams Companies Inc. (WMB)
- Antero Midstream Corporation (AM)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.