DT Midstream (NYSE:DTM) Releases Earnings Results

DT Midstream (NYSE:DTM) issued its earnings results on Thursday. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03), Briefing.com reports. DT Midstream had a net margin of 35.48% and a return on equity of 9.16%. The firm had revenue of $317.00 million during the quarter, compared to analysts’ expectations of $320.07 million. During the same quarter last year, the firm earned $0.94 EPS.

Here are the key takeaways from DT Midstream’s conference call:

• Adjusted EBITDA reached $1.138 billion in 2025, a 17% increase year-over-year, driven by a 27% jump in the pipeline segment (Midwest acquisition plus higher LEAP and storage revenue).
• Management raised the organic growth backlog by ~50% to $3.4 billion over five years (≈75% pipeline), with about $1.6 billion already committed and FID achieved on the Viking expansion and the Interstate Pipelines Modernization Phase Two; Vector and Millennium projects have contractual support pending final approvals.
• 2026 guidance calls for Adjusted EBITDA of $1.155–$1.225 billion (midpoint ~6% above prior guidance), with 2026 growth capex of $420–$480 million (≈$390 million committed) and an early 2027 outlook showing further mid-single-digit EBITDA growth.
• Company cites strong structural demand drivers—power-plant retirements, large utility load additions, and LNG export growth—identifying an addressable Upper Midwest opportunity of roughly 5–8 Bcf/d and noting winter price volatility as a signal for needed pipeline/storage expansion.

DT Midstream Stock Up 2.7%

Shares of DTM opened at $135.96 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 0.92. The company has a 50-day simple moving average of $123.33 and a 200-day simple moving average of $114.80. DT Midstream has a 52 week low of $83.30 and a 52 week high of $136.52. The firm has a market capitalization of $13.82 billion, a P/E ratio of 31.55, a P/E/G ratio of 2.36 and a beta of 0.77.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be given a dividend of $0.88 per share. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, March 16th. DT Midstream’s dividend payout ratio (DPR) is currently 82.83%.

Hedge Funds Weigh In On DT Midstream

Several institutional investors and hedge funds have recently added to or reduced their stakes in DTM. WFA of San Diego LLC bought a new stake in shares of DT Midstream during the second quarter valued at approximately $33,000. Geneos Wealth Management Inc. lifted its holdings in shares of DT Midstream by 39.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock worth $42,000 after acquiring an additional 123 shares during the period. Lazard Asset Management LLC boosted its position in shares of DT Midstream by 36.5% during the 2nd quarter. Lazard Asset Management LLC now owns 621 shares of the company’s stock valued at $68,000 after acquiring an additional 166 shares in the last quarter. Larson Financial Group LLC increased its stake in DT Midstream by 20.7% in the third quarter. Larson Financial Group LLC now owns 997 shares of the company’s stock valued at $113,000 after acquiring an additional 171 shares during the period. Finally, Virtus Investment Advisers LLC bought a new stake in DT Midstream in the fourth quarter valued at about $163,000. 81.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DTM has been the topic of several recent research reports. Barclays raised their target price on DT Midstream from $114.00 to $119.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. Mizuho raised their price objective on DT Midstream from $108.00 to $129.00 and gave the company a “neutral” rating in a research note on Tuesday. Bank of America lifted their price target on shares of DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. UBS Group boosted their price objective on shares of DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Jefferies Financial Group set a $148.00 price objective on shares of DT Midstream and gave the stock a “buy” rating in a report on Friday. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, DT Midstream presently has an average rating of “Moderate Buy” and an average target price of $130.82.

Key DT Midstream News

Here are the key news stories impacting DT Midstream this week:

• Positive Sentiment: Record 2025 Adjusted EBITDA and quarterly cash-generation strength — DT Midstream reported full‑year Adjusted EBITDA of $1.138B (up 17% y/y) and Q4 Adjusted EBITDA of $293M, supporting valuation and yield stability. DT Midstream Reports Record 2025 Results; Raises Dividend and Increases Project Backlog by 50%
• Positive Sentiment: Dividend increased — Board raised the quarterly dividend to $0.88 (7% hike), boosting income appeal for yield-focused investors and signaling confidence in cash flow. DT Midstream Inc (DTM) Q4 2025 Earnings Call Highlights
• Positive Sentiment: Backlog and project FIDs — Management increased the five‑year organic project backlog to ~$3.4B (up ~50%), with ~75% pipeline projects, and approved final investment decisions on two major pipeline expansions (including Viking expansion), supporting medium‑term growth. DT Midstream outlines $3.4B five-year organic project backlog as pipeline demand accelerates
• Neutral Sentiment: 2026 guidance focused on Adjusted EBITDA — Company gave 2026 Adjusted EBITDA guidance of $1.155–$1.225B (and early 2027 outlook), which implies modest growth vs. 2025 and frames investor expectations around cash‑flow rather than GAAP earnings. Slides and presentation materials were posted. DT Midstream, Inc. 2025 Q4 – Results – Earnings Call Presentation
• Negative Sentiment: Minor earnings and revenue miss — Q4 EPS was $1.08 vs. consensus $1.11 and revenue $317M vs. $320M est.; while management emphasizes EBITDA/DCF, the GAAP miss can weigh on short‑term sentiment. DT Midstream, Inc. (NYSE:DTM) Q4 2025 Earnings Call Transcript
• Negative Sentiment: Guidance lacks GAAP reconciliation — Management did not provide a GAAP reconciliation of its Adjusted EBITDA guidance, a transparency point some investors flag when comparing to net income forecasts. DT Midstream Reports Record 2025 Results; Raises Dividend and Increases Project Backlog by 50%
• Negative Sentiment: Mixed institutional positioning and analyst target dispersion — Recent filings show notable institutional selling and varying analyst targets (median ~$128.5), which could add volatility given the stock is trading above some targets. DT Midstream, Inc. Reports 17% Increase in Full Year 2025 Adjusted EBITDA…

About DT Midstream

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.