DT Midstream DTM
United StatesEnergy · Oil & Gas MidstreamUSD
152.60 USD (+24.4%)
15 analysts
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DT Midstream owns and operates a network of natural gas pipelines, processing plants, and storage in the US, generating revenue from transportation fees and midstream services.
Key points
from its scores- ✓Favourable backdrop7.0
- ✕Demanding valuation3.0
- !Average business quality5.0
AI analysis
bottom line, main risk, context and newsThe stability of the midstream business and its high margin offset a demanding valuation and leverage that makes its debt more expensive in the current rate environment.
DT Midstream has acceptable financial health (6.43) with a very high operating margin (50.44%), but its valuation is demanding (P/E 26.85, EV/EBITDA 17.24) and its net debt/EBITDA of 3.48 is high, making it sensitive to rising interest rates in the US.
High leverage (net debt/EBITDA of 3.48) and exposure to rising US interest rates, which increase the cost of its debt and pressure the valuation of its long-duration assets.
Context and risks
DT Midstream operates natural gas pipelines and storage in the US, a regulated business with stable cash flows. The main risk is exposure to energy policy and FERC tariff regulation, which can affect revenue. Rising US interest rates pressure the value of its long-term cash flows, given its debt level (net debt/EBITDA of 3.48).
Is DT Midstream stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 93% above the Energy median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 26.8 | 15.7 | +71% |
| EV / EBITDA | 17.2 | 8.0 | +114% |
| Price / book | 2.6 | 2.2 | +17% |
| Price / sales | 9.6 | 1.9 | +399% |
Sector: median of the 102 Energy companies analysed. In bold, the multiples used for the comparison.
Valuation score: 3.0 out of 10 (median for Energy: 5.9).
Average analyst target: 152.60 USD, +24.4% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 5.0 (sector 5.8), Growth 6.2 (sector 7.2).
Classic formulas with standard assumptions (7.2% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Energy medianValuation
- P/E
- 26.8
- Forward P/E
- 25.0
- EV / EBITDA
- 17.2
- Price / book
- 2.6
- Price / sales
- 9.6
- PEG
- 5.22
- Market cap
- 12.5B USD
- Enterprise value
- 15.9B USD
Profitability
- ROE
- 9.9%
- ROA
- 4.0%
- ROIC (approx.)
- 8.1%
- Gross margin
- 75.3%
- Operating margin
- 50.4%
- Net margin
- 35.7%
- Free cash flow
- 128.0M USD
- FCF yield
- 1.0%
- Cash conversion
- 14%
Solvency
- Total debt
- 3.4B USD
- Net debt
- 3.2B USD
- Cash
- 172.0M USD
- EBITDA
- 920.0M USD
- Net debt / EBITDA
- 3.48
- Debt / equity
- 68.54
- Current ratio
- 1.37
- Quick ratio
- 1.20
Growth
- Revenue growth
- +11.0%
- Earnings growth
- +4.8%
- EPS (TTM)
- 4.57 USD
- EPS (forward)
- 4.90 USD
Dividend
- Dividend yield
- 2.9%
- Payout
- 74.4%
Risk and market
- Beta
- 0.74
- Analyst consensus
- Buy (15)
- Target price
- 152.60 USD
- 52-week range
- 104.99 – 152.88
Recent news
All DTM news →Compare it with its sector
All 102 in Energy →Frequently asked questions about DT Midstream
Is DT Midstream stock cheap or expensive?
On P/E and EV / EBITDA, it trades 93% above the Energy median on average. Valuation score: 3.0 out of 10 (median for Energy: 5.9). Average analyst target: 152.60 USD, +24.4% versus the price. This is not investment advice.
What score does DT Midstream get on MeridIAn Screener?
It scores 5.4 out of 10, rank 1,468 of 2,130 (better than 29% of the companies analysed). Its strongest category is Risk & Context (7.0) and its weakest, Valuation (3.0). Analysis of 08/10/2026.
What is DT Midstream's P/E ratio?
Its P/E is 26.8: the share price equals 26.8 times earnings per share over the last 12 months. The Energy median is 15.7. Based on the earnings analysts expect, the forward P/E is 25.0.
How much is DT Midstream worth on the stock market?
Its market capitalisation is 12.5B USD and its enterprise value, debt included, is 15.9B USD.
How much debt does DT Midstream have?
Its net debt (debt minus cash) is 3.2B USD. That is 3.48 times its EBITDA; the Energy median is 1.23.
Does DT Midstream pay a dividend?
Yes: its dividend yield is 2.87% and it pays out 74% of its earnings.
How has DT Midstream stock performed over the last year?
It has risen 15.1% over the last year, excluding dividends. Over the last 52 weeks it has traded between 104.99 and 152.88 USD. Past performance does not guarantee future results.
What do analysts think of DT Midstream?
15 analysts cover it; their average recommendation is “Buy” and their average target is 152.60 USD (+24.4% versus the price). It is an estimate, not market data.