Dt Midstream Inc Stock Price, News & Analysis

DT Midstream (NYSE: DTM) has announced a proposed public offering of $300 million of common stock shares, with underwriters having a 30-day option to purchase up to $45 million in additional shares. The company plans to use the proceeds, along with $650 million from new senior secured notes and other funding sources, to finance the acquisition of Guardian Pipeline, Midwestern Gas Transmission Company, and Viking Gas Transmission Company from ONEOK Partners. Barclays Capital is serving as the lead book-running manager for the offering, which is subject to market conditions and not conditioned upon the acquisition's closing.

ONEOK (NYSE: OKE) has agreed to sell its three wholly owned interstate natural gas pipeline systems to DT Midstream for $1.2 billion in cash. The transaction includes Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission systems. The purchase price represents 10.8x previous 12-month EBITDA as of June 30, 2024. The deal, expected to close in Q4 2024, aims to enhance ONEOK's capital allocation priorities and support its deleveraging target of 3.5x by 2026. The transaction is subject to customary closing conditions, including Hart-Scott-Rodino Act clearance.

DT Midstream (NYSE: DTM) has announced a $1.2 billion acquisition of three FERC-regulated natural gas transmission pipelines from ONEOK. The portfolio includes Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission, totaling over 3.7 Bcf/d capacity across 1,300 miles in seven Midwest states. The acquisition, representing a 10.5x 2025 EBITDA multiple, will be financed with approximately $900 million in debt and $300 million in equity. The transaction is expected to increase DTM's pipeline segment to about 70% of Adjusted EBITDA in 2025, with approximately 90% demand-pull customer base and 85% of revenues from investment-grade customers.

DT Midstream reported strong Q3 2024 results with net income of $88 million, or $0.90 per diluted share. Adjusted EBITDA reached $241 million for the quarter. The company declared a dividend of $0.735 per share, payable January 15, 2025. Key business updates include the Phase 4 expansion of LEAP system to 2.1 Bcf/d by first half of 2026, upsizing of Stonewall System-Mountain Valley Pipeline interconnect, and an upgrade to investment-grade by Fitch Ratings. Due to strong performance, management increased 2024 Adjusted EBITDA guidance to $950-$980 million.

DT Midstream (NYSE: DTM) has announced plans to release its third quarter 2024 financial results on Tuesday, October 29, 2024, before the market opens. The company has scheduled a conference call to discuss the results at 9:00 a.m. ET (8:00 a.m. CT) on the same day. Investors, news media, and the public can access the live internet broadcast of the call through a provided link. For those who prefer to dial in, toll-free and toll numbers are available for U.S. and Canadian participants, along with international access numbers. The webcast will be archived on the DT Midstream website for future reference.

DT Midstream (NYSE: DTM) reported strong second quarter 2024 results, with net income of $96 million, or $0.98 per diluted share. Operating Earnings and Adjusted EBITDA were $96 million and $248 million, respectively. The company declared a $0.735 per share dividend payable on October 15, 2024.

Key business updates include:

• Early and on-budget completion of LEAP Phase 3 expansion project
• New agreements to connect three East Texas producers to the Haynesville System
• Successful evaluation of a Class V test well for carbon capture and sequestration in Louisiana

CEO David Slater expressed confidence in meeting full-year plans and future growth prospects.

DT Midstream (NYSE: DTM) has announced its plans to release second quarter 2024 financial results on Tuesday, July 30, 2024, before the market opens. The company has scheduled a conference call for 9:00 a.m. ET (8:00 a.m. CT) on the same day to discuss the results. Investors, media, and the public can access the live internet broadcast of the call through a provided link. For those preferring to dial in, toll-free and toll numbers are available for U.S. and Canadian participants, with international access numbers also provided. The webcast will be archived on DT Midstream's investor relations website for future reference.

DT Midstream, Inc. (NYSE: DTM) reported strong first quarter 2024 results with a net income of $97 million, or $0.99 per diluted share. Operating Earnings and Adjusted EBITDA were $97 million and $245 million respectively. The company declared a $0.735 per share dividend on its common stock. Significant business updates include the expansion of the Stonewall Gas Gathering system, completion of interconnect projects, and progress in the carbon capture and sequestration project in Louisiana.