Dt Midstream Inc Stock Price, News & Analysis

DT Midstream (NYSE: DTM) has successfully concluded the $552 million acquisition of an additional 26.25% stake in Millennium Pipeline from National Grid, raising its total ownership to 52.5%. The acquisition aligns with the company's growth strategy and is financed through available cash and credit facilities. Millennium Pipeline is a 263-mile interstate pipeline delivering natural gas to the Northeast markets. The company is committed to the transition towards net-zero greenhouse gas emissions by 2050.

DT Midstream (NYSE: DTM) announced its agreement to acquire an additional 26.25% stake in Millennium Pipeline for approximately $552 million in cash, increasing its total ownership to 52.50%. The transaction, expected to close in Q4 2022, is fully funded by cash on hand and available credit. This deal aligns with the company's growth strategy and is forecasted to contribute $12 to $14 million in Adjusted EBITDA for 2022. With high creditworthy customers and take-or-pay contracts, this pipeline acquisition enhances revenue stability.

Three major energy companies, DT Midstream (NYSE: DTM), Southwestern Energy (NYSE: SWN), and Williams (NYSE: WMB), have joined the Appalachian Energy Future alliance. This collaboration aims to develop a clean-energy ecosystem across Ohio, Pennsylvania, and West Virginia. The initiative focuses on educating regional leaders about the benefits of a tri-state hub, addressing policy and regulatory topics. The alliance seeks to establish a national model for clean energy, promoting industrial development and economic growth in the Appalachian region.

DT Midstream announced a strong second quarter 2022, reporting a net income of $91 million or $0.93 per diluted share. The company reaffirmed its 2022 adjusted EBITDA guidance of $770 to $810 million and projected 2023 adjusted EBITDA between $810 and $850 million. Additionally, a quarterly dividend of $0.64 per share was declared, payable on October 15, 2022. Notably, the company finalized its Phase 2 expansion of the LEAP system, aiming for an increase to 1.7 Bcf/d by Q1 2024. DT Midstream also received recognition for customer service quality, ranking first among 63 midstream firms.

DETROIT, July 20, 2022 - DT Midstream (NYSE: DTM) will announce its second quarter 2022 financial results on August 3, 2022, before market opening. A conference call to discuss these results is scheduled for 9:00 a.m. ET on the same day, accessible through a live internet broadcast and via phone. The company focuses on natural gas transportation and is committed to achieving net zero greenhouse gas emissions by 2050, planning a 30% reduction in carbon emissions over the next decade.

The Board of Directors of DT Midstream has declared a $0.64 per share dividend on its common stock, with a payment date set for July 15, 2022. Shareholders must be on record by the close of business on June 20, 2022. DT Midstream operates in natural gas transportation and related services across the U.S. and Canada, emphasizing clean energy efforts and a commitment to reaching net zero greenhouse gas emissions by 2050, targeting a 30% reduction in carbon emissions over the next decade.

DT Midstream (NYSE: DTM) reported a strong start to 2022 with a net income of $81 million ($0.84 per diluted share) and an adjusted EBITDA of $191 million for Q1. The company reaffirms its adjusted EBITDA guidance for 2022 at $770 to $810 million and an early outlook for 2023 at $810 to $850 million. Key achievements include agreements to expand the Appalachia Gathering System and a new five-year contract on NEXUS for 100 MMcf/d of capacity. The company is also partnering with Cheniere to deploy emissions monitoring equipment, enhancing its sustainability efforts.

DT Midstream (NYSE: DTM) will announce its first quarter 2022 financial results on May 5, 2022, before the market opens. A conference call is scheduled for 9 a.m. ET the same day, accessible via a live internet broadcast. The company, based in Detroit, operates natural gas pipelines and facilities across the U.S. and Canada, with a commitment to achieving net zero greenhouse gas emissions by 2050, including a 30% reduction target within the next decade. Interested parties can find more information on the company's website.