DT Midstream's Q4 adjusted EBITDA rises

DT Midstream

19/02/2026 12:40

Overview

Natural gas pipeline operator's Q4 2025 adjusted EBITDA rose to $293 mln

Full year 2025 adjusted EBITDA increased 17% to $1.138 bln

Company announced final investment decisions on two pipeline projects

Outlook

DT Midstream expects 2026 Adjusted EBITDA between $1.155 bln and $1.225 bln

Company projects 2027 Adjusted EBITDA range of $1.225 bln to $1.295 bln

DT Midstream sees increased organic project backlog to $3.4 bln over 5 years

Result Drivers

MIDWEST PIPELINE INTEGRATION - Successful integration of Midwest pipelines contributed to record results, per CEO David Slater

PROJECT BACKLOG INCREASE - Co increased organic project backlog by 50% to $3.4 bln, with pipeline projects making up 75%

PIPELINE INVESTMENTS - Co reached final investment decisions on Viking Gas Transmission expansion and interstate pipeline modernization

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 EPS
$1.08
Q4 Net Income
$111 mln
Q4 Adjusted EBITDA
$293 mln
Q4 Dividend
$0.88


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 6 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the oil & gas transportation services peer group is "buy"

Wall Street's median 12-month price target for DT Midstream Inc is $127.00, about 4.9% below its February 18 closing price of $133.48

The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 23 three months ago

Press Release: ID:nGNX8p6l04

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)