Citigroup Upholds Buy Rating for DT Midstream (DTM)
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 10 2025
0mins
Should l Buy DTM?
Source: NASDAQ.COM
Citigroup's Recommendation: Citigroup has maintained a Buy recommendation for DT Midstream (NYSE:DTM) as of October 9, 2025, with an average one-year price target of $111.35/share, indicating a slight upside of 0.16% from its latest closing price.
Fund Sentiment and Ownership Changes: There are 1,120 funds reporting positions in DT Midstream, with a slight decrease in the number of owners but an increase in total shares owned by institutions by 4.25% over the last three months. Notable increases in ownership were reported by Blackstone Group, iShares Core S&P Mid-Cap ETF, and Vanguard Total Stock Market Index Fund.
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Analyst Views on DTM
Wall Street analysts forecast DTM stock price to fall
7 Analyst Rating
4 Buy
2 Hold
1 Sell
Moderate Buy
Current: 130.420
Low
114.00
Averages
126.86
High
137.00
Current: 130.420
Low
114.00
Averages
126.86
High
137.00
About DTM
DT Midstream, Inc. is an owner, operator, and developer of natural gas interstate and intrastate pipelines, storage and gathering systems, compression, treatment, and surface facilities. The Company transports clean natural gas for utilities, power plants, marketers, large industrial customers, and energy producers. Its segments include Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines. It also has interests in equity method investees that own and operate interstate natural gas pipelines. The segment is engaged in the transportation and storage of natural gas for intermediate and end user customers. The Gathering segment owns and operates gas gathering systems. The segment is engaged in collecting natural gas from points at or near customers’ wells for delivery to plants for treating, to gathering pipelines for further gathering, or to pipelines for transportation.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Morgan Stanley Upgrades Midstream Companies Ratings
- Rating Upgrade Impact: Morgan Stanley upgraded Antero Midstream and DT Midstream from Underweight to Equal Weight with price targets of $26 and $165 respectively, resulting in a 2.7% increase in Antero Midstream's stock and a 0.9% rise in DT Midstream's stock, indicating a renewed market confidence in midstream companies.
- Antero Midstream Growth Potential: Analysts noted that Antero Midstream is entering a multi-year growth phase driven by Antero Resources' expanding production and capital activities, with a projected one-year total return potential of 26.4%, including a 4.2% dividend yield, suggesting an optimistic outlook for capital returns.
- Strong Performance of DT Midstream: DT Midstream has shown stronger-than-expected growth in its Midwest pipeline operations, with analysts expecting its EBITDA growth to exceed the long-term target of 5%-7%, and a price target of $165 implies a 25.5% one-year total return potential, including a 2.6% dividend yield, reflecting its strengthened market position.
- WaterBridge's Competitive Edge: Morgan Stanley upgraded WaterBridge from Equal Weight to Overweight with a price target of $34, anticipating it will have the strongest EBITDA growth due to its advantageous position in the Delaware Basin and leading water infrastructure, with a one-year total return potential of 33.4%, including a 1% dividend yield, indicating a structural re-rating in its valuation.
See More
Morgan Stanley Increases Target Price for DT Midstream, Inc. to $165.00 from $139.00
Morgan Stanley's Target Price Increase: Morgan Stanley has raised its target price for DTMIDSTREAM, increasing it from $139.00 to $165.00.
Market Implications: This adjustment reflects a positive outlook on the company's performance and potential growth in the market.
See More
DT Midstream to Announce Q1 2026 Financial Results
- Earnings Announcement Schedule: DT Midstream plans to release its Q1 2026 financial results before market open on April 30, 2026, demonstrating the company's commitment to transparency and information disclosure, aimed at bolstering investor confidence.
- Conference Call Timing: The company has scheduled a conference call for the same day at 9:00 a.m. ET to discuss the financial results, providing an opportunity for direct interaction between investors and management, which helps enhance market understanding of the company's performance.
- Participation Details: Investors and the public can listen to a live webcast of the call, with toll-free dial-in numbers provided for the U.S. and Canada, ensuring broad dissemination of information and enhancing communication between the company and its investors.
- Company Background: DT Midstream is focused on natural gas pipeline, storage, and gathering systems, serving utilities and industrial customers across the Southern, Northeastern, and Midwestern United States, showcasing its significant role in the energy transportation sector.
See More
Strategies to Enhance Tax Efficiency for Investors
- Tax Efficiency Improvement: According to Bank of America, a tax-aware portfolio achieved a 7.4% annualized return over 30 years, compared to 5.9% for a tax-insensitive portfolio, highlighting the significant impact of tax management on long-term returns.
- Buybacks Over Dividends: Investors should prefer stock buybacks over dividends since buybacks are not taxable events, while dividends incur taxes ranging from 0% to 20%, although companies may reduce buybacks due to other capital commitments.
- Municipal Bond Advantages: Municipal bonds provide federal tax-exempt income, and residents of the issuing state can enjoy additional state and local tax exemptions, with tax-equivalent yields potentially exceeding Treasuries by 70 basis points, making them suitable for high-tax investors.
- Direct MLP Ownership: Master limited partnerships (MLPs) offer attractive yields but should be owned directly to avoid extra tax burdens, as distributions are treated as a return of capital, increasing investors' cost basis; recommended high-rated MLPs include DT Midstream, Energy Transfer, and Enterprise Products Partners.
See More
DT Midstream Reports 26.7% Revenue Growth for Full Year
- Profitability Improvement: DT Midstream Inc. reported a full-year profit of $441 million, translating to earnings per share of $4.30, which marks a significant increase from last year's $354 million and $3.60 per share, indicating strong performance in profitability.
- Significant Revenue Growth: The company's annual revenue surged by 26.7%, rising from $981 million to $1.243 billion, reflecting its success in meeting market demand and enhancing operational efficiency.
- Improved Financial Health: With the dual growth in profits and revenue, DT Midstream's financial health has significantly improved, providing stronger funding support for future investments and expansions.
- Enhanced Market Competitiveness: The improvement in the company's performance not only strengthens its competitive position within the industry but also lays a solid foundation for future strategic development, potentially attracting more investor interest.
See More
DT Midstream Reports Record 2025 Earnings with Strong Growth Outlook
- Record Performance: DT Midstream's adjusted EBITDA for 2025 reached $1.138 billion, reflecting a 17% year-over-year increase, with the Pipeline segment alone growing by 27%, showcasing the company's robust market performance and profitability.
- Project Expansion Plans: The company has increased its organic project backlog by approximately 50% to $3.4 billion over the next five years, with pipeline projects comprising about 75%, providing strong support for future revenue growth.
- Dividend Growth: The Board declared a quarterly dividend of $0.88 per share, representing a 7.3% increase from the prior year, reflecting the company's commitment to generating cash flow and returning value to shareholders.
- Optimistic Market Outlook: Management anticipates 2026 adjusted EBITDA guidance in the range of $1.155 billion to $1.225 billion, indicating confidence in future growth, particularly against the backdrop of accelerating demand in the power and LNG markets.
See More
Morgan Stanley Upgrades Midstream Companies Ratings
- Rating Upgrade Impact: Morgan Stanley upgraded Antero Midstream and DT Midstream from Underweight to Equal Weight with price targets of $26 and $165 respectively, resulting in a 2.7% increase in Antero Midstream's stock and a 0.9% rise in DT Midstream's stock, indicating a renewed market confidence in midstream companies.
- Antero Midstream Growth Potential: Analysts noted that Antero Midstream is entering a multi-year growth phase driven by Antero Resources' expanding production and capital activities, with a projected one-year total return potential of 26.4%, including a 4.2% dividend yield, suggesting an optimistic outlook for capital returns.
- Strong Performance of DT Midstream: DT Midstream has shown stronger-than-expected growth in its Midwest pipeline operations, with analysts expecting its EBITDA growth to exceed the long-term target of 5%-7%, and a price target of $165 implies a 25.5% one-year total return potential, including a 2.6% dividend yield, reflecting its strengthened market position.
- WaterBridge's Competitive Edge: Morgan Stanley upgraded WaterBridge from Equal Weight to Overweight with a price target of $34, anticipating it will have the strongest EBITDA growth due to its advantageous position in the Delaware Basin and leading water infrastructure, with a one-year total return potential of 33.4%, including a 1% dividend yield, indicating a structural re-rating in its valuation.
See More
Morgan Stanley Increases Target Price for DT Midstream, Inc. to $165.00 from $139.00
Morgan Stanley's Target Price Increase: Morgan Stanley has raised its target price for DTMIDSTREAM, increasing it from $139.00 to $165.00.
Market Implications: This adjustment reflects a positive outlook on the company's performance and potential growth in the market.
See More
DT Midstream to Announce Q1 2026 Financial Results
- Earnings Announcement Schedule: DT Midstream plans to release its Q1 2026 financial results before market open on April 30, 2026, demonstrating the company's commitment to transparency and information disclosure, aimed at bolstering investor confidence.
- Conference Call Timing: The company has scheduled a conference call for the same day at 9:00 a.m. ET to discuss the financial results, providing an opportunity for direct interaction between investors and management, which helps enhance market understanding of the company's performance.
- Participation Details: Investors and the public can listen to a live webcast of the call, with toll-free dial-in numbers provided for the U.S. and Canada, ensuring broad dissemination of information and enhancing communication between the company and its investors.
- Company Background: DT Midstream is focused on natural gas pipeline, storage, and gathering systems, serving utilities and industrial customers across the Southern, Northeastern, and Midwestern United States, showcasing its significant role in the energy transportation sector.
See More
Strategies to Enhance Tax Efficiency for Investors
- Tax Efficiency Improvement: According to Bank of America, a tax-aware portfolio achieved a 7.4% annualized return over 30 years, compared to 5.9% for a tax-insensitive portfolio, highlighting the significant impact of tax management on long-term returns.
- Buybacks Over Dividends: Investors should prefer stock buybacks over dividends since buybacks are not taxable events, while dividends incur taxes ranging from 0% to 20%, although companies may reduce buybacks due to other capital commitments.
- Municipal Bond Advantages: Municipal bonds provide federal tax-exempt income, and residents of the issuing state can enjoy additional state and local tax exemptions, with tax-equivalent yields potentially exceeding Treasuries by 70 basis points, making them suitable for high-tax investors.
- Direct MLP Ownership: Master limited partnerships (MLPs) offer attractive yields but should be owned directly to avoid extra tax burdens, as distributions are treated as a return of capital, increasing investors' cost basis; recommended high-rated MLPs include DT Midstream, Energy Transfer, and Enterprise Products Partners.
See More
DT Midstream Reports 26.7% Revenue Growth for Full Year
- Profitability Improvement: DT Midstream Inc. reported a full-year profit of $441 million, translating to earnings per share of $4.30, which marks a significant increase from last year's $354 million and $3.60 per share, indicating strong performance in profitability.
- Significant Revenue Growth: The company's annual revenue surged by 26.7%, rising from $981 million to $1.243 billion, reflecting its success in meeting market demand and enhancing operational efficiency.
- Improved Financial Health: With the dual growth in profits and revenue, DT Midstream's financial health has significantly improved, providing stronger funding support for future investments and expansions.
- Enhanced Market Competitiveness: The improvement in the company's performance not only strengthens its competitive position within the industry but also lays a solid foundation for future strategic development, potentially attracting more investor interest.
See More
DT Midstream Reports Record 2025 Earnings with Strong Growth Outlook
- Record Performance: DT Midstream's adjusted EBITDA for 2025 reached $1.138 billion, reflecting a 17% year-over-year increase, with the Pipeline segment alone growing by 27%, showcasing the company's robust market performance and profitability.
- Project Expansion Plans: The company has increased its organic project backlog by approximately 50% to $3.4 billion over the next five years, with pipeline projects comprising about 75%, providing strong support for future revenue growth.
- Dividend Growth: The Board declared a quarterly dividend of $0.88 per share, representing a 7.3% increase from the prior year, reflecting the company's commitment to generating cash flow and returning value to shareholders.
- Optimistic Market Outlook: Management anticipates 2026 adjusted EBITDA guidance in the range of $1.155 billion to $1.225 billion, indicating confidence in future growth, particularly against the backdrop of accelerating demand in the power and LNG markets.
See More
