DTM
DT Midstream, Inc.
NYSEUSDEQUITY
Energy
DELAYED
Neutral
-15/100
Last price
124.60
▲ 2.48 (2.03%)
MARKET · —
Price
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Open
—
Prev close
122.12
Day high
124.79
Day low
121.03
Volume
905.52K
Market cap
$12.71B
P/E (TTM)
27.26
52W range
104.99 – 152.88
Trailing performance
Returnvs SPY
1W
+2.44%
+0.5%
1M
-3.80%
-5.0%
3M
-14.63%
-19.2%
6M
-7.08%
-25.3%
YTD
+4.11%
-10.1%
1Y
+8.83%
-7.6%
3Y
+135.45%
+53.2%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on DTM open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
585.57K
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Aug 7, 26 | PICKLE ELAINE M Director |
BUY | 1.50K | $198.91K | Direct |
| Aug 5, 26 | JEWELL JEFFREY A Chief Financial Officer |
BUY | 145 | $19.40K | Direct |
| May 15, 26 | JEWELL JEFFREY A Chief Financial Officer |
BUY | 150 | $22.16K | Direct |
| May 6, 26 | ARCHON ANGELA N Director |
— | 1.18K | — | Direct |
| May 4, 26 | JEWELL JEFFREY A Chief Financial Officer |
— | 16.11K | — | Direct |
| Mar 5, 26 | FINLAND JOSEPH PETER Officer |
— | 1.03K | — | Direct |
| Feb 26, 26 | TUMMINELLO PETER I Director |
SELL | 2.00K | $271.85K | Direct |
| Feb 25, 26 | JEWELL JEFFREY A Chief Financial Officer |
BUY | 185 | $25.22K | Direct |
| Feb 17, 26 | SLATER DAVID Chief Executive Officer |
STOCK | 135.16K | $0 | Direct |
| Feb 17, 26 | JEWELL JEFFREY A Chief Financial Officer |
STOCK | 35.63K | $0 | Direct |
| Feb 17, 26 | ELLIS WENDY General Counsel |
STOCK | 21.60K | $0 | Direct |
| Feb 17, 26 | ZONA CHRISTOPHER President |
STOCK | 36.73K | $0 | Direct |
| Feb 17, 26 | COX MELISSA Officer |
STOCK | 11.02K | $0 | Direct |
| Feb 17, 26 | FINLAND JOSEPH PETER Officer |
STOCK | 1.50K | $0 | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
ARCHON ANGELA N |
Director | 6.07K | Conversion of Exercise of derivative security |
BAKER STEPHEN W |
Director | 2.81K | Conversion of Exercise of derivative security |
COX MELISSA |
Officer | 12.13K | Stock Award(Grant) |
ELLIS WENDY |
General Counsel | 26.77K | Stock Award(Grant) |
JEWELL JEFFREY A |
Chief Financial Officer | 89.88K | Purchase |
PICKLE ELAINE M |
Director | 5.81K | Purchase |
SKAGGS ROBERT C. JR. |
Director | 38.65K | Purchase |
SLATER DAVID |
Chief Executive Officer | 262.97K | Stock Award(Grant) |
TUMMINELLO PETER I |
Director | 11.39K | Sale |
ZONA CHRISTOPHER |
President | 96.13K | Stock Award(Grant) |
Fundamentals
Market cap$12.71B
Enterprise value$16.05B
Revenue (TTM)$1.31B
Gross profit$987.00M
EBITDA$920.00M
Net income$468.00M
EPS (TTM)$4.57
Free cash flow$128.00M
Total cash$172.00M
Total debt$3.37B
Book value / share$46.85
Shares outstanding102.02M
Float101.32M
Short % of float7.07%
Dividend yield2.83%
Beta (5Y)0.74
Valuation & profitability ratios
Trailing P/E27.26
Forward P/E25.44
PEG ratio—
Price / sales—
Price / book2.66
EV / revenue12.26
EV / EBITDA17.45
Gross margin75.34%
Operating margin50.44%
Profit margin35.72%
Return on equity9.90%
Return on assets4.03%
Debt / equity68.54
Current ratio1.37
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $1.24B | $981.00M | $922.00M | $920.00M | +26.7% |
| Operating revenue | $1.24B | $981.00M | $922.00M | $920.00M | +26.7% |
| Cost of revenue | $258.00M | $209.00M | $182.00M | $170.00M | +23.4% |
| Gross profit | $985.00M | $772.00M | $740.00M | $750.00M | +27.6% |
| Total operating expense | $371.00M | $283.00M | $273.00M | $295.00M | +31.1% |
| Operating income | $614.00M | $489.00M | $467.00M | $455.00M | +25.6% |
| Net interest income | -$159.00M | -$151.00M | -$149.00M | -$147.00M | -5.3% |
| Pre-tax income | $598.00M | $504.00M | $500.00M | $482.00M | +18.7% |
| Tax provision | $144.00M | $137.00M | $104.00M | $100.00M | +5.1% |
| Net income | $441.00M | $354.00M | $384.00M | $370.00M | +24.6% |
| Net income to common | $441.00M | $354.00M | $384.00M | $370.00M | +24.6% |
| Basic EPS | 4.34 | 3.63 | 3.97 | 3.83 | +19.6% |
| Diluted EPS | 4.30 | 3.60 | 3.94 | 3.81 | +19.4% |
| EBIT | $759.00M | $657.00M | $650.00M | $619.00M | +15.5% |
| EBITDA | $1.03B | $884.00M | $850.00M | $808.00M | +17.0% |
| Basic shares | 101.60M | 97.60M | 96.90M | 96.70M | +4.1% |
| Diluted shares | 102.50M | 98.40M | 97.50M | 97.20M | +4.2% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $54.00M | $68.00M | $56.00M | $61.00M | — | -20.6% |
| Cash & short-term investments | $54.00M | $68.00M | $56.00M | $61.00M | — | -20.6% |
| Accounts receivable | $186.00M | $172.00M | $154.00M | $161.00M | — | +8.1% |
| Total current assets | $318.00M | $310.00M | $272.00M | $262.00M | — | +2.6% |
| Property, plant & equipment | $5.81B | $5.58B | $4.47B | $3.84B | — | +4.2% |
| Goodwill & intangibles | $2.64B | $2.70B | $2.44B | $2.50B | — | -2.0% |
| Total assets | $10.08B | $9.94B | $8.98B | $8.83B | — | +1.5% |
| Total current liabilities | $296.00M | $426.00M | $434.00M | $614.00M | — | -30.5% |
| Current debt | — | $150.00M | $165.00M | $330.00M | $10.00M | — |
| Long-term debt | $3.32B | $3.32B | $3.06B | $3.06B | — | +0.2% |
| Total debt | $3.37B | $3.52B | $3.27B | $3.42B | — | -4.2% |
| Total liabilities | $5.20B | $5.17B | $4.70B | $4.68B | — | +0.6% |
| Retained earnings | $827.00M | $723.00M | $661.00M | $547.00M | — | +14.4% |
| Shareholder equity | $4.74B | $4.63B | $4.14B | $4.01B | — | +2.4% |
| Working capital | $22.00M | -$116.00M | -$162.00M | -$352.00M | — | +119.0% |
| Net tangible assets | $2.09B | $1.93B | $1.70B | $1.51B | — | +8.4% |
| Shares issued | 101.67M | 101.32M | 96.97M | 96.75M | — | +0.3% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Net income | $454.00M | $367.00M | $396.00M | $382.00M | — | +23.7% |
| Depreciation & amortisation | $275.00M | $227.00M | $200.00M | $189.00M | — | +21.1% |
| Stock-based compensation | $26.00M | $23.00M | $20.00M | $17.00M | — | +13.0% |
| Change in working capital | -$25.00M | $22.00M | $53.00M | $40.00M | — | -213.6% |
| Operating cash flow | $867.00M | $763.00M | $798.00M | $725.00M | — | +13.6% |
| Capital expenditure | -$426.00M | -$350.00M | -$772.00M | -$338.00M | — | -21.7% |
| Investing cash flow | -$372.00M | -$1.08B | -$351.00M | -$854.00M | — | +65.6% |
| Share buybacks | — | — | $0 | -$3.00M | $0 | — |
| Dividends paid | -$324.00M | -$280.00M | -$263.00M | -$244.00M | — | -15.7% |
| Financing cash flow | -$509.00M | $330.00M | -$452.00M | $58.00M | — | -254.2% |
| Free cash flow | $441.00M | $413.00M | $26.00M | $387.00M | — | +6.8% |
| End cash position | $54.00M | $68.00M | $56.00M | $61.00M | — | -20.6% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Total revenue | $343.00M | $336.00M | $317.00M | $314.00M | $309.00M | — | +2.1% |
| Operating revenue | $343.00M | $336.00M | $317.00M | $314.00M | $309.00M | — | +2.1% |
| Cost of revenue | $68.00M | $69.00M | $67.00M | $65.00M | $63.00M | — | -1.4% |
| Gross profit | $275.00M | $267.00M | $250.00M | $249.00M | $246.00M | — | +3.0% |
| Total operating expense | $102.00M | $100.00M | $94.00M | $94.00M | $91.00M | — | +2.0% |
| Operating income | $173.00M | $167.00M | $156.00M | $155.00M | $155.00M | — | +3.6% |
| Net interest income | -$40.00M | -$39.00M | -$41.00M | -$39.00M | -$40.00M | — | -2.6% |
| Pre-tax income | $169.00M | $170.00M | $154.00M | $153.00M | $145.00M | — | -0.6% |
| Tax provision | $53.00M | $36.00M | $40.00M | $35.00M | $34.00M | — | +47.2% |
| Net income | $112.00M | $130.00M | $111.00M | $115.00M | $107.00M | — | -13.8% |
| Net income to common | $112.00M | $130.00M | $111.00M | $115.00M | $107.00M | — | -13.8% |
| Basic EPS | 1.10 | 1.28 | — | 1.14 | 1.05 | 1.07 | -14.1% |
| Diluted EPS | 1.09 | 1.27 | — | 1.13 | 1.04 | 1.06 | -14.2% |
| EBIT | $211.00M | $210.00M | $195.00M | $193.00M | $185.00M | — | +0.5% |
| EBITDA | $283.00M | $283.00M | $266.00M | $262.00M | $253.00M | — | 0.0% |
| Basic shares | 102.00M | 101.80M | — | 101.60M | 101.60M | 101.40M | +0.2% |
| Diluted shares | 102.60M | 102.70M | — | 102.50M | 102.50M | 102.50M | -0.1% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Cash & equivalents | $172.00M | $150.00M | $54.00M | $98.00M | $74.00M | — | +14.7% |
| Cash & short-term investments | $172.00M | $150.00M | $54.00M | $98.00M | $74.00M | — | +14.7% |
| Accounts receivable | $184.00M | $186.00M | $186.00M | $175.00M | $164.00M | — | -1.1% |
| Total current assets | $409.00M | $404.00M | $318.00M | $322.00M | $291.00M | — | +1.2% |
| Property, plant & equipment | $5.89B | $5.83B | $5.81B | $5.77B | $5.66B | — | +1.1% |
| Goodwill & intangibles | $2.61B | $2.63B | $2.64B | $2.66B | $2.67B | — | -0.6% |
| Total assets | $10.21B | $10.15B | $10.08B | $10.06B | $9.96B | — | +0.5% |
| Total current liabilities | $298.00M | $321.00M | $296.00M | $349.00M | $331.00M | — | -7.2% |
| Current debt | — | — | — | — | $25.00M | $65.00M | — |
| Long-term debt | $3.33B | $3.33B | $3.32B | $3.32B | $3.32B | — | +0.0% |
| Total debt | $3.37B | $3.37B | $3.37B | $3.38B | $3.40B | — | +0.1% |
| Total liabilities | $5.29B | $5.26B | $5.20B | $5.22B | $5.14B | — | +0.5% |
| Retained earnings | $888.00M | $867.00M | $827.00M | $801.00M | $770.00M | — | +2.4% |
| Shareholder equity | $4.78B | $4.75B | $4.74B | $4.70B | $4.67B | — | +0.5% |
| Working capital | $111.00M | $83.00M | $22.00M | -$27.00M | -$40.00M | — | +33.7% |
| Net tangible assets | $2.17B | $2.13B | $2.09B | $2.04B | $2.00B | — | +1.9% |
| Shares issued | 102.02M | 102.01M | 101.67M | 101.67M | 101.59M | — | +0.0% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Net income | $116.00M | $134.00M | $114.00M | $118.00M | $111.00M | -13.4% |
| Depreciation & amortisation | $72.00M | $73.00M | $71.00M | $69.00M | $68.00M | -1.4% |
| Stock-based compensation | $6.00M | $6.00M | $7.00M | $7.00M | $6.00M | 0.0% |
| Change in working capital | -$19.00M | $36.00M | -$65.00M | $30.00M | -$27.00M | -152.8% |
| Operating cash flow | $222.00M | $280.00M | $161.00M | $274.00M | $185.00M | -20.7% |
| Capital expenditure | -$105.00M | -$78.00M | -$131.00M | -$143.00M | -$81.00M | -34.6% |
| Investing cash flow | -$104.00M | -$68.00M | -$118.00M | -$130.00M | -$70.00M | -52.9% |
| Dividends paid | -$89.00M | -$83.00M | -$83.00M | -$83.00M | -$83.00M | -7.2% |
| Financing cash flow | -$96.00M | -$116.00M | -$87.00M | -$120.00M | -$124.00M | +17.2% |
| Free cash flow | $117.00M | $202.00M | $30.00M | $131.00M | $104.00M | -42.1% |
| End cash position | $172.00M | $150.00M | $54.00M | $98.00M | $74.00M | +14.7% |
Options analytics
Put / call volume
0.14
Call-heavy session
Put / call open interest
—
Positioning, not flow
Max pain
110.00
-11.7% from spot
ATM implied vol
0.8%
Nearest strike to spot
Skew (10% OTM)
0.0%
Calls bid over puts
Call volume
14
Contracts, this expiry
Put volume
2
Contracts, this expiry
Heaviest call OI
120.00
0 contracts
Heaviest put OI
110.00
0 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | 1.15 | 1.09 | -4.8% |
| Mar 2026 | 1.13 | 1.27 | +12.4% |
| Dec 2025 | 1.15 | 1.08 | -6.2% |
| Sep 2025 | 1.04 | 1.13 | +8.1% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 1.12 | 7 | $333.29M | +6.1% |
| Next quarter | 1.21 | 7 | $345.13M | +8.9% |
| Current year | 4.70 | 9 | $1.36B | +9.4% |
| Next year | 4.90 | 9 | $1.42B | +4.1% |
Analyst targets & ownership
Mean target$152.60
High target$170.00
Low target$130.00
Implied upside22.47%
Analyst count15
ConsensusBUY
Strong buy / Buy3 / 5
Hold5
Sell / Strong sell1 / 0
Held by insiders0.57%
Held by institutions90.32%
Institutions holding883
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
122.37
+1.82% from price
SMA 20
124.56
+0.03% from price
SMA 50
129.40
-3.71% from price
SMA 100
137.13
-9.14% from price
SMA 200
134.43
-7.31% from price
EMA 12
123.07
+1.24% from price
EMA 26
125.48
-0.70% from price
EMA 50
129.13
-3.51% from price
RSI (14)
46.7
Neutral
MACD (12,26,9)
-2.41
Hist 0.21
ATR (14)
2.82
2.27% of price
Realised vol 30D
20.4%
Annualised
Bollinger upper
130.42
20, 2σ
Bollinger lower
118.70
20, 2σ
50 / 200 cross
Death
129.40 vs 134.43
Trend bias
Below 200
-7.31%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
0.14
Less volatile than market
Correlation to SPY
0.08
Largely independent
Realised vol 30D
20.4%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-20.9%
Peak to trough
Max drawdown 5Y
-25.1%
Peak to trough
ATR 14
2.82
2.27% of price
Beta (reported)
0.74
5Y monthly, from filing
Short interest
Shares short
5.73M
Prior 4.75M
Change vs prior
+20.6%
Shorts adding
% of float
7.07%
Normal
% of shares out
5.62%
Against total outstanding
Days to cover
5.9
Crowded exit
Float
101.32M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Oct 6, 26 | Barclays | MAINTAINED | Equal-Weight | Equal-Weight |
| Sep 16, 26 | Jefferies | MAINTAINED | Buy | Buy |
| Sep 10, 26 | Scotiabank | MAINTAINED | Sector Outperform | Sector Outperform |
| Sep 10, 26 | Morgan Stanley | UPGRADE | Equal-Weight | Overweight |
| Aug 26, 26 | Wolfe Research | UPGRADE | Peer Perform | Outperform |
| Jul 31, 26 | Mizuho | MAINTAINED | Neutral | Neutral |
| Jul 16, 26 | Jefferies | MAINTAINED | Buy | Buy |
| Jul 8, 26 | JP Morgan | MAINTAINED | Neutral | Neutral |
| May 26, 26 | Scotiabank | INITIATED | — | Sector Outperform |
| May 15, 26 | UBS | MAINTAINED | Buy | Buy |
| May 12, 26 | Morgan Stanley | MAINTAINED | Equal-Weight | Equal-Weight |
| May 5, 26 | Mizuho | MAINTAINED | Neutral | Neutral |
Dividends & splits
Forward rate$3.52 / yr
Forward yield2.83%
5-year avg yield3.21%
Payout ratio74.40%
Ex-dividend dateSep 21, 2026
Next pay dateOct 15, 2026
Last split—
Split date—
SEC filings
Periodic Financial Reports
10-Q · 2026-07-30
Corporate Changes & Voting Matters
8-K · 2026-05-12
Corporate Changes & Voting Matters
8-K · 2026-05-07
Corporate Changes & Voting Matters
8-K · 2026-04-30
Proxy Statements
DEFA14A · 2026-03-26
Corporate Changes & Voting Matters
8-K · 2026-02-19
Corporate Changes & Voting Matters
8-K · 2026-01-29
Periodic Financial Reports
10-Q · 2025-10-30
Headlines
Implied Volatility Surging for DT Midstream Stock Options
Zacks · 2d ago
DT Midstream Publishes Annual Sustainability Report
GlobeNewswire · 7d ago
DT Midstream (DTM) Jumps on Rising Demand in Key Data Centre Markets
Insider Monkey · 8d ago
DT Midstream Inc's Dividend Analysis
GuruFocus.com · 16d ago
Here Are Thursday’s Top Wall Street Analyst Research Calls: Advanced Micro Devices, Amgen, AngloGold Ashanti, Caterpillar, Chewy, Meta Platforms, Novartis, NVIDIA, SK hynix, and More
24/7 Wall St. · 27d ago
Morgan Stanley Upgrades DT Midstream to Overweight From Equal Weight, $170 Price Target
MT Newswires · 27d ago
DT Midstream (DTM) Stock Looks Stretched As Its 250% 5 Year Run Continues
Simply Wall St. · 41d ago
DT Midstream (DTM) Tests Its Bull Case As Gas Demand Narrative Meets Valuation Questions
Simply Wall St. · 41d ago
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