DT Midstream, Inc.(DTM)Stock Analysis
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Rank #158 of 2,879 stocksTOP 10%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
DTM Stock Analysis & AI Quality Score
AI stock analysis and institutional research for DT Midstream, Inc. (DTM), a Energy sector company. 13F Pro's AI-powered ranking engine scores DTM at 74.5/100 on a 32-signal composite quality model, placing it at rank #158 of 2,879 stocks — the top 10% of the AI-ranked universe. DTM scores in the top quartile across free cash flow (92.4), profitability (91.7), revenue growth (78.2). Shareholder dilution risk is elevated at 40.6/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), DT Midstream, Inc. reports quarterly revenue of $336.0M, net income of $130.0M, an operating margin of 49.4%. Top institutional holders of DTM by reported 13-F value include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. DTM trades on the NYSE exchange and files with the SEC under CIK 1842022. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate DTM daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for DT Midstream, Inc. directly from SEC EDGAR. DT Midstream, Inc.'s 13F Pro composite quality score has ranged between 8 and 75 since 2022, currently 74.5 — an improving long-term trajectory across 52 quarterly and live scoring snapshots.
What's Driving DTM's Business? Latest 10-Q Breakdown
✓ 20/20 datapoints verifiedAI-extracted from DT Midstream, Inc.'s 10-Q filed 2026-04-30 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
DT Midstream reported Q1 2026 operating revenues of $336M (+11% YoY), driven by Pipeline growth from LEAP and Stonewall expansions and Gathering volume increases, with net income of $130M (+20% YoY).
Biggest Revenue Drivers
Total revenue: $336M+11% YoY
New LEAP expansion contracts of $6M, production-related revenue of $5M, higher Stonewall inter-segment revenue from MVP expansion of $5M
Higher volumes of $8M and new contracts of $4M at Blue Union; higher Appalachia Gathering volumes of $5M; higher Tioga and Ohio Utica volumes of $7M combined
Largest Expense Items
Higher operational flow order fees on LEAP of $3M and MVP expansion inter-segment fees at Appalachia of $5M, partially offset by lower DTM Interstate Transportation expenses
Assets placed into service at Blue Union Gathering, Clean Fuels Gathering, and Ohio Utica Gathering
Consistent debt levels with no new borrowings outstanding under Revolving Credit Facility
Margins: Operating income increased to $166M (+12% YoY) from improved revenues and controlled operating expense growth. Net income margin improved to 39% (net income attributable to DT Midstream of $130M on $336M revenues), benefiting from higher earnings from equity method investees of $43M, which offset higher interest expense and taxes.
Watch Items from the Filing
- Key customer Expand Energy represents significant revenue concentration in Haynesville and Marcellus formations; loss or reduction in volumes would materially adversely affect business.
- Stonewall litigation with Antero Resources: On April 2, 2026, court order issued with no damages awarded; both parties retain right to appeal and seek attorney's fees discretionarily under Texas law.
- Guardian placed $150M term loan into service April 30, 2026, maturing April 2033 at SOFR plus 195 bps, increasing leverage; consolidated net leverage ratio was 2.7x as of Q1 2026.
- Contract liabilities of $186M expected to be recognized as revenue in future periods; $80M deferred to 2031 and beyond, providing revenue visibility but indicating long-term contract extensions.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q1 2026
$336.0M
Net Income
Q1 2026
$130.0M
Free Cash Flow
Q1 2026
$202.0M
Operating Margin
Q1 2026
49.4%
ROIC
Q1 2026
2.1%
D/E Ratio
Q1 2026
0.70
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+26.7% YoYNet Income
+24.6% YoYOperating Income
+25.6% YoYEPS (Diluted)
+19.4% YoYTotal Assets
+1.5% YoYTotal Debt
-5.0% YoYOp. Cash Flow
+13.6% YoY| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Revenue | $1.24B +26.7% | $981.0M +6.4% | $922.0M +9.8% | $840.0M +11.4% | $754.0M +49.6% | $504.0M |
| Net Income | $441.0M +24.6% | $354.0M -7.8% | $384.0M +25.1% | $307.0M -1.6% | $312.0M +52.9% | $204.0M |
| Operating Income | $614.0M +25.6% | $489.0M +3.8% | $471.0M +17.2% | $402.0M -2.9% | $414.0M +58.6% | $261.0M |
| EPS (Diluted) | $4.30 +19.4% | $3.60 -8.6% | $3.94 +24.7% | $3.16 -2.2% | $3.23 +53.1% | $2.11 |
| Total Assets | $10.08B +1.5% | $9.94B +10.6% | $8.98B +10.0% | $8.17B -2.1% | $8.34B +7.1% | $7.79B |
| Total Debt | $3.32B -5.0% | $3.50B +8.4% | $3.23B +6.0% | $3.05B | $0.00 | — |
| Operating Cash Flow | $867.0M +13.6% | $763.0M -4.4% | $798.0M +39.5% | $572.0M -4.2% | $597.0M +53.1% | $390.0M |
AI Insight: DTM Financial Trends
DTM delivered strong revenue growth of 38% year-over-year in Q1 2026 while maintaining stable debt levels around $3.3B.
• Revenue grew from $303M in Q1 2025 to $336M in Q1 2026, representing 11% growth year-over-year.
• Operating income expanded from $148M in Q1 2025 to $166M in Q1 2026, up 12% year-over-year.
• Total debt decreased from $3,500M in Q4 2024 to $3,325M in Q1 2026, down $175M.
• Net income rose from $108M in Q1 2025 to $130M in Q1 2026, gaining 20% year-over-year.
⚠ Operating cash flow volatility continues with Q4 2025 dropping to $161M from $274M in Q3 2025.
⚠ Debt levels have stabilized around $3.3B after Q4 2024 spike to $3.5B needs monitoring for leverage trends.
AI Insight: DTM Ratio Trends
DT Midstream delivered strong Q1 2026 results with ROE surging to 10.9% and net margin expanding to 38.7%, both multi-quarter highs.
• ROE jumped to 10.9% in Q1 2026 from 9.4% in Q4 2025, marking the highest level since Q2 2024.
• Net profit margin expanded to 38.7% in Q1 2026 from 35.0% in Q4 2025, the strongest quarterly margin in two years.
• ROIC improved to 8.2% in Q1 2026 from 7.7% in the prior quarter, continuing gradual recovery from Q4 2024 lows.
• Debt-to-equity ratio held steady at 0.70 for two consecutive quarters after declining from 0.76 peak in Q4 2024.
⚠ Operating margin declined to 49.4% in Q1 2026 from 50.2% peak in Q2 2025, though remains above Q4 2024 trough.
⚠ TTM metrics lag quarterly trends with ROE at 9.7% versus 10.9% quarterly, suggesting potential seasonality impacts.
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Top Institutional Holders of DTM
BlackRock, Inc.
$1.5B10,917,048 shVANGUARD PORTFOLIO MANAGEMENT LLC
$792.4M5,884,239 shVANGUARD CAPITAL MANAGEMENT LLC
$614.7M4,564,584 shSTATE STREET CORP
$440.0M3,246,345 shDEUTSCHE BANK AG\
$411.6M3,056,441 shTORTOISE CAPITAL ADVISORS, L.L.C.
$405.0M3,007,559 shNeuberger Berman Group LLC
$395.6M2,937,408 shBlackstone Inc.
$361.0M2,680,256 sh59 North Capital Management, LP
$353.1M2,621,909 shGEODE CAPITAL MANAGEMENT, LLC
$311.3M2,310,954 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $1.5B | 10,917,048 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $792.4M | 5,884,239 |
| VANGUARD CAPITAL MANAGEMENT LLC | $614.7M | 4,564,584 |
| STATE STREET CORP | $440.0M | 3,246,345 |
| DEUTSCHE BANK AG\ | $411.6M | 3,056,441 |
| TORTOISE CAPITAL ADVISORS, L.L.C. | $405.0M | 3,007,559 |
| Neuberger Berman Group LLC | $395.6M | 2,937,408 |
| Blackstone Inc. | $361.0M | 2,680,256 |
| 59 North Capital Management, LP | $353.1M | 2,621,909 |
| GEODE CAPITAL MANAGEMENT, LLC | $311.3M | 2,310,954 |
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Popular Research
Is DTM a good stock to buy?
13F Pro's AI-powered analysis of DT Midstream, Inc. (DTM) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Energy sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for DTM are available on the DTM stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own DTM?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling DTM. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of DT Midstream, Inc.'s investment landscape.