| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 28 | 28.1x | 17.8x | Bottom tier | |
Growth | 80 | 18.1% | 7.1% | Top tier | |
Quality | 70 | 6.0% | 4.5% | Top tier | |
Safety | 56 | 3.5x | 2.6x | Around median | |
Capital Return | 67 | 2.64% | 2.12% | Top tier | |
Momentum | 58 | 28.9% | 2.9% | Around median | |
Sentiment | 93 | 8 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
DT Midstream operates a specialized portfolio of natural gas pipelines and gathering systems, connecting Haynesville and Appalachia supplies to liquefied natural gas markets, power generation, data centers, and regulated utilities. The company generates income from its Pipeline and Gathering segments, and long-term contracts support a significant portion of its expansions; on its Q2 FY2026 call, it announced that it had commercialized 60% of its 3.4 billion dollar organic project portfolio, with more than 80% of commitments allocated to pipeline projects.
In Q2 FY2026, revenue was 343 million dollars, net income was 112 million dollars, and earnings per share were 1.09 dollars, equivalent to a calculated net income margin of approximately 32.7%. By comparison, Q1 FY2026 recorded revenue of 336 million dollars, net income of 130 million dollars, and earnings per share of 1.27 dollars; revenue therefore increased by approximately 2.1% sequentially, while net income declined by approximately 13.8%. Revenue for the twelve months ended in 2026 was approximately 1.3 billion dollars, and net income was 468 million dollars, compared with revenue of 1.2 billion dollars and net income of 441 million dollars in FY2025.
Adjusted earnings before interest, taxes, depreciation, and amortization were 305 million dollars in Q2 FY2026, down 3 million dollars from the previous quarter. The Pipeline segment's contribution declined by 14 million dollars due to seasonality in joint-venture pipeline revenue, despite higher Stonewall revenue, while the Gathering segment's contribution improved by 11 million dollars, supported by increased Blue Union volumes. The company invested 86 million dollars in growth capital during the quarter and declared a dividend of 0.88 dollars per share, unchanged from the previous quarter.
The analyst consensus on DTM is "Neutral," with an average target of 153.43 dollars and a wide range between 127 and 176 dollars. The average target is slightly above the 52-week high of 152.88 dollars, while the highest target exceeds that high by approximately 15.1% and the lowest target is approximately 16.9% below it; the context does not provide a published price-to-earnings multiple that could be used as an additional valuation anchor.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
The primary driver is a 3.4 billion dollar organic project portfolio, of which the company had commercialized 60% as of July 30, 2026. The new decisions include approximately 300 million dollars of projects, including a 200 million cubic feet per day LEAP expansion and a 100 million cubic feet per day Appalachia expansion. The two NEXUS interconnects also add more than 0.5 billion cubic feet per day of power-generation demand associated with data centers.
The company recorded revenue of 343 million dollars, net income of 112 million dollars, and earnings per share of 1.09 dollars. Adjusted earnings before interest, taxes, depreciation, and amortization were 305 million dollars, down 3 million dollars from the previous quarter. Revenue increased by approximately 2.1% compared with Q1 FY2026, but net income declined by approximately 13.8%, and earnings per share fell from 1.27 dollars.
The expansion increases LEAP capacity by 200 million cubic feet per day to a total of 2.3 billion cubic feet per day. The project is supported by two new long-term contracts with two producer customers and is expected to enter service in the second half of 2028. The expansion combines additional compression and pipeline looping, while also improving the Haynesville system's access to East Texas supplies and liquefied natural gas markets.
Automated analysis for informational purposes only — not investment advice.
In Q2 FY2026, the company commercialized a 380 million cubic feet per day interconnect on NEXUS to supply a gas-fired power plant serving a new data center in Ohio. Together with the interconnect announced in Q1 FY2026, the additional demand on the mainline exceeds 0.5 billion cubic feet per day. NEXUS currently has capacity of approximately 1.4 billion cubic feet per day, and the pipeline is effectively fully contracted, according to management.
Management expects Q3 FY2026 to be weaker than Q2 due to maintenance on the gathering network. Northeast volumes are also expected to decline from the second-quarter average of 1.38 billion cubic feet per day due to the timing of producer activity, while Haynesville is expected to remain stable near its previous quarterly level. Despite these pressures, the company reaffirmed its 2026 adjusted earnings before interest, taxes, depreciation, and amortization guidance range.
The analyst consensus is "Neutral," and the average price target is 153.43 dollars. Targets range from 127 to 176 dollars, a difference of 49 dollars that reflects substantial disagreement over valuation estimates. The average target is slightly above the 52-week high of 152.88 dollars, and the context does not provide a valid price-to-earnings multiple for an additional comparison.
