DT Midstream runs the toll roads for natural gas—pipelines and storage that move gas from wellheads to power plants and local utilities, charging fees for every mile and cubic foot.
Money comes from long-term transportation and storage contracts with producers, utilities, and generators—recurring fee-based revenue with gross margins around 63% and net margins near 36% on USD 1.24B annual revenue.
Regulated pipeline infrastructure is expensive and slow to permit, so competitors like Kinder Morgan and Williams can't easily duplicate DT's routes. However, the moat is eroding as renewable energy growth and stricter emissions rules reduce long-term gas dema
Sell (sector percentile 11) — value D, growth C, profitability A-, momentum C-, revisions D-. Updated daily, sector-relative, identical for every user.
Key events, in time order
Q2 net income of $112M ($1.09/diluted share); FIDs on ~$300M new organic growth projects
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