DT Midstream Q1 net income totals $130 mln, advances pipeline projects

Overview

• US natural gas pipeline operator reported Q1 net income of $130 mln and adjusted EBITDA of $308 mln

• Company advanced new interstate pipeline growth projects and placed new power plant lateral in service

• Board declared $0.88 per share dividend, payable July 15, 2026

Outlook

• Company says Q1 results place it on track to deliver 2026 financial goals

Result Drivers

• PIPELINE EXPANSION PROJECTS - Co said Q1 results benefited from advancing new interstate pipeline growth projects

• CUSTOMER INTEREST IN CAPACITY - Co completed non-binding open seasons for pipeline expansions with customer interest exceeding offered capacity

• NEW INFRASTRUCTURE IN SERVICE - Co placed into service a new power plant lateral from Midwestern Gas Transmission

Company press release: ID:nGNX8szLKv

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the oil & gas transportation services peer group is "buy"

• Wall Street's median 12-month price target for DT Midstream Inc is $141.67, about 2.1% above its April 29 closing price of $138.79

• The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 24 three months ago

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