Dt Midstream Inc Stock Price, News & Analysis

DT Midstream has successfully closed a $600 million offering of 4.300% Senior Secured Notes due 2032. The proceeds are allocated to partially repay existing term loan indebtedness, maintaining leverage neutrality. The Notes were privately placed under Rule 144A and Regulation S of the Securities Act, with no registration in the U.S. The company operates natural gas infrastructure, committed to achieving net zero greenhouse gas emissions by 2050, targeting a 30% reduction in the next decade.

DT Midstream announced a $600 million offering of 4.300% Senior Secured Notes due in 2032. These Notes will be secured by a first priority lien on specific assets. The offering is expected to close on April 11, 2022, and aims to partially repay existing debt under its term loan facility, maintaining a leverage-neutral stance. The private placement will cater to qualified institutional buyers and foreign investors under exemptions from the Securities Act.

DT Midstream (NYSE: DTM) announced the approval of a stock repurchase program totaling 125,000 shares to counterbalance shares issued under its 2022 stock-based compensation program. The repurchases will occur in the open market or through negotiated transactions until the end of the fiscal year, unless adjusted by the Board. This move is part of the company’s strategy to enhance shareholder value while ensuring sustainable practices, aiming for net zero greenhouse gas emissions by 2050 and a 30% carbon emissions reduction in the next decade.

DT Midstream reported strong financial results for 2021 with net income of $307 million, or $3.16 per diluted share. The company exceeded its guidance with adjusted EBITDA of $768 million and operating earnings of $336 million. Looking ahead, DT Midstream increased its 2022 adjusted EBITDA guidance to between $770 and $810 million and provided an early outlook for 2023. Additionally, the company raised its dividend by 7% to $0.64 per share. The management emphasized their focus on organic growth and investments in ESG initiatives.

DT Midstream (NYSE: DTM) announced its 2022 Annual Meeting of Shareholders scheduled for May 6, 2022. Shareholders recorded by the close of business on March 9, 2022, will be eligible to vote at this meeting. The company, based in Detroit, specializes in the transportation, storage, and gathering of natural gas across the U.S. and Canada. It aims for net-zero greenhouse gas emissions by 2050, with an interim target of 30% reduction by 2030, making it a leader in sustainability within the midstream sector.

DT Midstream (NYSE: DTM) will release its fourth quarter and full year 2021 financial results on February 25, 2022, before the market opens. A conference call for investors will follow at 9 a.m. ET, with a live internet broadcast available. DT Midstream operates natural gas pipelines, storage, and gathering systems, catering to utilities and industrial customers across the U.S. and Canada. The company aims for net-zero greenhouse gas emissions by 2050 and plans to reduce carbon emissions by 30% over the next decade.

DT Midstream (NYSE: DTM) has declared a dividend of $0.60 per share on its common stock, payable on January 15, 2022, to shareholders of record by the close of business on December 20, 2021.

David Slater, president and CEO, emphasized the company's strong performance and commitment to maintaining a competitive and growing dividend. DT Midstream operates natural gas pipelines and systems across the U.S. and Canada, and aims for net-zero greenhouse gas emissions by 2050, with a goal of reducing carbon emissions by 30% within the next decade.

DT Midstream announced a strong third quarter performance for 2021, reporting net income of $74 million, or $0.77 per diluted share. The company increased its 2021 adjusted EBITDA guidance by 10% and operating earnings guidance by 12%, emphasizing significant financial growth. Key achievements include solid operating earnings of $75 million and adjusted EBITDA of $188 million. Additionally, DT Midstream highlighted an industry-first carbon-neutral expansion on its Haynesville pipeline system, aimed at sustainable growth. The company remains on track for 5-7% growth into 2022.

DT Midstream (NYSE: DTM) and Mitsubishi Power Americas have entered a strategic agreement to enhance clean hydrogen energy projects in the U.S. This partnership aims to develop a hydrogen 'hub and spoke' system by utilizing DT Midstream's extensive pipeline infrastructure. Key initiatives focus on hydrogen production, transportation, and storage, leveraging Mitsubishi's advanced energy technologies. The joint development will support low carbon solutions across utilities, transportation, and industrial sectors.