DTM

DT Midstream, Inc.

Ticker: DTMUtilitiesElectric, Gas & Water
HQ DETROIT, MICIK 1842022FY end 12-31Book / share $46.53Shares 103M
Revenue (FY)
$1.24B+26.71%
TTM $1.31B
Op. margin
49.40%-0.45%
TTM 49.62%
Net income
$454.00M+23.71%
TTM $482.00M
Operating cash
$867.00M+13.63%
TTM $937.00M
Free cash flow
$441.00M+6.78%
TTM $480.00M
Return on equity
9.31%+1.66%
TTM 9.79%
Debt / equity
0.70-0.05%
TTM 0.70
Shares outstanding
102.5M+4.17%
TTM 102.7M

The business

DT Midstream, Inc. (NYSE: DTM) operates as an integrated owner, operator, and developer of natural gas midstream assets across the United States and Eastern Canada. The company's website is www.dtmidstream.com. DT Midstream was spun off from DTE Energy Company effective July 1, 2021, and subsequently became an independent publicly traded midstream infrastructure company.

The company provides multiple integrated natural gas services through a strategically positioned portfolio of interstate pipelines, intrastate pipelines, storage systems, gathering lateral pipelines, and gathering systems with related treatment plants and compression facilities. Its core assets connect key demand centers in the Midwestern U.S., Eastern Canada, and Northeastern U.S. regions to premium production areas of the Marcellus and Utica natural gas formations in the Appalachian Basin, as well as connecting Gulf Coast demand centers and liquefied natural gas export terminals to the Haynesville natural gas formation.

DT Midstream operates through two reportable segments: Pipeline and Gathering. The Pipeline segment, representing approximately 55 percent of consolidated revenue, includes FERC-regulated interstate pipelines, intrastate pipelines, storage systems, and gathering lateral pipelines, along with equity method investments in joint ventures owning additional interstate pipelines. The Gathering segment, representing approximately 45 percent of consolidated revenue, includes gathering systems and related treatment plants serving major shale production basins.

The company serves natural gas producers, local distribution companies, electric power generators, industrial customers, and national marketers through long-term firm service revenue contracts that provide stable cash flows. Approximately 92 percent of Pipeline segment revenue and 99 percent of unconsolidated joint venture revenue derive from firm service arrangements. The company employs 588 full-time employees, all based in the United States with headquarters in Detroit, Michigan.

DT Midstream's business model emphasizes disciplined capital deployment, operational excellence, and long-term contractual relationships. The company recently achieved investment-grade ratings from all three major credit rating agencies and continues pursuing organic growth projects and strategic expansion opportunities within its existing footprint while developing low-carbon business opportunities aligned with its net-zero carbon emissions goal by 2050.

Sector
Utilities
Industry
Electric, Gas & Water
HQ
DETROIT, MI
FY end
12-31
CIK
1842022
SIC
4922
Financial performance · annual
20212025
$-131.00M$262.00M$655.00M$1.05B$1.44B20212022202320242025TTMTTMTTM

Ownership

Who holds DT Midstream, Inc. — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

484
funds hold it
0 of 35
superinvestors hold it
$6.57B
fund-held value
44.3%
of shares held by funds

Top fund holders

Fund% of fundValue
iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.41%$512.29M
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.02%$475.20M
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.18%$343.26M
Tortoise Energy Infrastructure Total Return Fund
TORTX · Tortoise Capital Series Trust
6.41%$241.89M
VANGUARD SMALL-CAP VALUE INDEX FUND
VBR · VANGUARD INDEX FUNDS
0.32%$217.47M

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

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15 years of DT Midstream, Inc.'s financials

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