Reading DTM? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track DTM free→Reading DTM? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track DTM free→NYSEEnergyOil & Gas MidstreamSnapshot 2026-06-12
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
Recent financial performance is strong, but earnings quality and management's track record are neutral, indicating no significant strengths or weaknesses in these areas. Risk is moderate, and the sector backdrop presents a headwind, while the company's capital stance is capital unfriendly. Peer multiples imply a price about 88% below where it trades (it looks expensive on this basis); the read is rich, as it trades above peer multiples, and the longer horizon does not make that back through growth. Key factors to watch include guidance changes and sector trends, as these could significantly impact DTM's outlook. This read is provisional.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 6 valuation methods, at three horizons. Current price $142.32. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $142 the market pays 31× p/e — above the 16× p/e peer median but in line with its own 28× history. That premium reflects a durable franchise our peer-anchored $76 fair value understates; treat the 'expensive vs peers' read with low confidence. Analysts: $127–$176. Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
The market is pricing in roughly 88% near-term growth, well above our forecast of about 17%. This describes what's priced in, not a forecast of the move.
Flags: expensive valuation, weak execution quality, a turbulent sector regime (Heating).
For similar setups historically (n=889): about 49% saw a 20%+ drawdown, and roughly 85% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Energy names rated strong grew net income 60% of the time over the next year (vs 56% for the rest of the cohort, n=979).
Over the trailing year it converted 1.94x of net income into operating cash flow. Historically, Energy names rated neutral grew net income 33% of the time over the next year (vs 48% for the rest of the cohort, n=789).
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, long-term interest rates, real (inflation-adjusted) rates, Fed net liquidity.
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
EPS estimate $1.13 → $1.13 (-0.4% / 30d). 2 raised, 2 cut, 6 covering analysts.
0 upgrades, 0 downgrades / 30d, 1 maintained. 44% of analysts rate Buy.
1 PT revisions / 30d. Avg target 16.5% above current price.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
On a typical day, $10k can swing ±$75.
How much price usually moves either way.
On a bad day, this stock has moved -$189.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $977.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
No material changes since the prior snapshot.
as of 2026-06-12
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Why it matters: A confirmed dividend shows the company cares about its shareholders. It shows financial health.
Confirms:The company pays the declared dividend of $0.88 per share on July 15, 2026.
Disproves:The company cuts or stops the dividend payment.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for DTM yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
Executive Vice President and Chief Administrative Officer — Melissa Cox: Ms. Cox was terminated without cause from her position.
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
$127.00 – $176.00 (median $150.00) · 11 analysts · as of 2026-05-26
Looks more expensive than peers.
Richer than its own typical valuation.
Trailing four: 2025-Q1, 2025-Q2, 2025-Q3, 2026-Q1
A side-by-side read on sector standing, valuation, and risk versus Oil & Gas Storage & Transportation.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
DTM DT Midstream | Typical Show detailsSector percentile: 40 of 100 | expensive | moderate |
WMB Williams Companies | Typical Show detailsSector percentile: 39 of 100 | expensive | moderate |
KMI Kinder Morgan | Above typical Show detailsSector percentile: 74 of 100 | full | moderate |
ET ENERGY TRANSFER LP | Above typical Show detailsSector percentile: 78 of 100 | fair | moderate |
TRGP Targa Resources | Typical Show detailsSector percentile: 55 of 100 | expensive | moderate |
2 material management or governance events in the past 24 months, led by executive changes. Historically, Energy names rated neutral grew net income 45% of the time over the next year (vs 49% for the rest of the cohort, n=329).
Not investment advice. As of 2026-06-12.
via XLE
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-12.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
DT Midstream aims to consistently increase its quarterly dividend to shareholders.
DT Midstream is focused on improving its operating income through efficiency and growth.
DT Midstream is committed to increasing cash flow from operations to support growth and dividends.
Why it matters: Growth in operating income means better efficiency and profit. This is important for long-term success.
Confirms:Operating income for Q2 is more than $166 million.
Disproves:Operating income for Q2 is less than $166 million.
Why it matters: Sector growth trends impact DT Midstream's performance. Slowing growth could affect revenue.
Confirms one read:Sector revenue growth is now over 6% year over year.
Confirms the other:Sector revenue growth slows below 4% year over year.
Why it matters: More cash from operations is key for paying dividends and growing. It shows financial strength.
Confirms:Cash from operations goes up compared to last quarter.
Disproves:Cash from operations goes down compared to last quarter.
Why it matters: Earnings results will show if the company is improving operating income and cash flow. This is key for future growth.
Confirms one read:Earnings report shows operating income growth year over year.
Confirms the other:Earnings report shows a decline in operating income year over year.
Why it matters: A higher dividend shows the company cares about giving cash to shareholders. It shows good financial health.
Confirms:The company will announce a quarterly dividend over $0.88 per share.
Disproves:The company announces no increase or a decrease in the dividend.
Results of Operations and Financial Condition. DT Midstream, Inc. (“DT Midstream”) is furnishing the Securities and Exchange Commission with its earnings release issued April 30, 2026, announcing financial results for the quarter ended March 31, 2026. A copy of the earnings release, including supplemental financial information, is furnished as Exhibit 99.1 and incorporated by reference.
Regulation FD Disclosure. In DT Midstream’s earnings release issued on April 30, 2026, DT Midstream also announced that its Board of Directors has declared a quarterly cash dividend of $0.88 per share of common stock. The dividend is payable to DT Midstream’s stockholders of record as of June 15, 2026, and is expected to be paid on July 15, 2026. DT Midstream is furnishing the SEC with its slide presentation issued April 30, 2026. A copy of the slide presentation is furnished as Exhibit 99.2…