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DT MIDSTREAM, INC.

(DTM)
  Report
Delayed Nyse  -  01:00 2022-11-25 pm EST
59.81 USD   +0.83%
11/21Dt Midstream, Inc. : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)
AQ
11/17North American Morning Briefing: Muted Start Seen -2-
DJ
11/16Wolfe Research Downgrades DT Midstream to Peer Perform From Outperform
MT
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

DT Midstream to Buy Additional 26.25% Stake in Millennium Pipeline

09/29/2022 | 08:11am EST

By Will Feuer


Gas pipeline operator DT Midstream Inc. said it has agreed to buy an additional 26.25% stake in Millennium Pipeline for about $552 million.

Through the all-cash deal, DT Midstream will buy National Grid PLC's full ownership interest in the pipeline, increasing DT Midstream's stake to 52.5%, the company said.

Millennium Pipeline, which has been in service since 2008, is a 263-mile interstate pipeline, positioned to deliver Northeast Marcellus and Utica gas to utility and power plant markets across New York State and New England.

The company said the deal aligns with DT Midstream's strategy of owning pure-play natural gas assets that connect supply basins with demand centers and key market regions. Chief Executive David Slater said revenue would be supported by take-or-pay contracts with high credit quality customers.

The deal is expected to close in the fourth quarter of 2022.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

09-29-22 0810ET

Stocks mentioned in the article
ChangeLast1st jan.
DT MIDSTREAM, INC. 0.83% 59.81 Delayed Quote.24.66%
NATIONAL GRID PLC 0.34% 1019.5 Delayed Quote.-3.80%
S&P GSCI NATURAL GAS INDEX -4.90% 343.197 Real-time Quote.96.51%
All news about DT MIDSTREAM, INC.
11/21Dt Midstream, Inc. : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K..
AQ
11/17North American Morning Briefing: Muted Start Seen -2-
DJ
11/16Wolfe Research Downgrades DT Midstream to Peer Perform From Outperform
MT
11/15Dt Midstream, Inc. : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K..
AQ
10/31Barclays Adjusts Price Target on DT Midstream to $67 From $63, Maintains Overweight Rat..
MT
10/31Mizuho Downgrades DT Midstream to Neutral From Buy, Adjusts Price Target to $62 From $5..
MT
10/28Sector Update: Energy Stocks Hanging on for Narrow Friday Gains
MT
10/28Sector Update: Energy Stocks Pulled Higher in Broadly Stronger Friday Mark..
MT
10/28Sector Update: Energy
MT
10/28Dt Midstream : Q3 Earnings Snapshot
AQ
More news
Analyst Recommendations on DT MIDSTREAM, INC.
More recommendations
Financials (USD)
Sales 2022 906 M - -
Net income 2022 366 M - -
Net Debt 2022 3 384 M - -
P/E ratio 2022 15,7x
Yield 2022 4,28%
Capitalization 5 787 M 5 787 M -
EV / Sales 2022 10,1x
EV / Sales 2023 9,18x
Nbr of Employees 280
Free-Float 99,9%
Chart DT MIDSTREAM, INC.
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Technical analysis trends DT MIDSTREAM, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Last Close Price 59,81 $
Average target price 64,14 $
Spread / Average Target 7,24%
EPS Revisions
Managers and Directors
David Slater President, Chief Executive Officer & Director
Jeffrey A. Jewell Executive VP, Chief Financial & Accounting Officer
Robert C. Skaggs Executive Chairman
Christopher Zona Chief Operating Officer & Executive Vice President
Dwayne Andree Wilson Independent Director
Sector and Competitors
1st jan.Capi. (M$)
DT MIDSTREAM, INC.24.66%5 787
ENERGY TRANSFER LP50.18%38 174
SNAM S.P.A.-8.25%16 949
DCP MIDSTREAM, LP41.92%8 127
EQUITRANS MIDSTREAM CORPORATION-21.57%3 523
NEXTDECADE CORPORATION101.40%829