DTM on NYSE
DT Midstream, Inc.
American natural gas transmission company, incorporated in Delaware1
In its 2026 annual report the company says: “We are an owner, operator, and developer of an integrated portfolio of natural gas midstream assets. We provide multiple, integrated natural gas services to customers through our interstate pipelines, intrastate pipelines, storage systems, gathering lateral pipelines and compression and surface facilities, and gathering systems including related treatment plants, and compression and surface facilities. We also own joint venture interests in equity method investees which own and operate interstate pipelines that connect to our wholly owned assets.”51 It is headquartered in Detroit, Michigan.1 Its shares trade on NYSE under the symbol DTM.1
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Last updated Oct 21, 2026.
Overview
Compare with Antero Midstream Corp, Kodiak Gas Services, Inc. or Archrock, Inc., or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
49.4%Operating margin4
35.5%Net margin4
26.7%Revenue growth, 20254
9.3%Return on equity4
0.70×Debt to equity4
$441.0MFree cash flow4
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Pipeline brought in 55% of the revenue DT Midstream, Inc. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Pipeline | $377.0M | $443.0M | $687.0M |
| Gathering | $545.0M | $538.0M | $556.0M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs53¢$658.0M
- Income tax12¢$144.0M
- Profit35¢$441.0M
Out of $1.2B in revenue.4
Where each dollar of operating cash went, fiscal 2025
- Capital spending49¢$426.0M
- Dividends paid37¢$324.0M
- Kept or used elsewhere13¢$117.0M
Out of $867.0M of cash from operations.4
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Operating revenues | $1.2B | $981.0M | $922.0M |
| Operation and maintenance | $329.0M | $244.0M | $245.0M |
| Depreciation and amortization | $258.0M | $209.0M | $182.0M |
| Taxes other than income | $42.0M | $39.0M | $28.0M |
| Asset (gains) losses and impairments, net | $0 | $0 | -$4.0M |
| Operating Income | $614.0M | $489.0M | $471.0M |
| Interest expense | $161.0M | $153.0M | $150.0M |
| Interest income | -$2.0M | -$7.0M | -$1.0M |
| Earnings from equity method investees | -$138.0M | -$162.0M | -$177.0M |
| Loss from financing activities | $0 | $5.0M | $0 |
| Other income | -$5.0M | -$4.0M | -$1.0M |
| Income Before Income Taxes | $598.0M | $504.0M | $500.0M |
| Income Tax Expense | $144.0M | $137.0M | $104.0M |
| Net Income | $454.0M | $367.0M | $396.0M |
| Less: Net Income Attributable to Noncontrolling Interests | $13.0M | $13.0M | $12.0M |
| Net Income Attributable to DT Midstream | $441.0M | $354.0M | $384.0M |
| Net Income Attributable to DT Midstream (in dollars per share) | $4.34 | $3.63 | $3.97 |
| Net Income Attributable to DT Midstream (in dollars per share) | $4.30 | $3.60 | $3.94 |
| Basic (in shares) | 101.6M shares | 97.6M shares | 96.9M shares |
| Diluted (in shares) | 102.5M shares | 98.4M shares | 97.5M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $54.0M | $68.0M | ||
| Accounts receivable (net of $ allowance for expected credit loss for each period end) | $186.0M | $172.0M | ||
| Deferred property taxes | $42.0M | $33.0M | ||
| Taxes receivable | $2.0M | $8.0M | ||
| Prepaid expenses and other | $34.0M | $29.0M | ||
| Total Current Assets | $318.0M | $310.0M | ||
| Investments in equity method investees | $1.3B | $1.3B | $1.8B | |
| Property, plant, and equipment | $7.0B | $6.5B | ||
| Accumulated depreciation | -$1.2B | -$998.0M | ||
| Net Property, plant, and equipment | $5.8B | $5.5B | ||
| Goodwill | $781.0M | $776.0M | $473.0M | |
| Long-term notes receivable related party | $4.0M | $4.0M | ||
| Operating lease right-of-use assets | $46.0M | $49.0M | ||
| Intangible assets, net | $1.9B | $1.9B | ||
| Other | $50.0M | $51.0M | ||
| Total Other Assets | $2.7B | $2.8B | ||
| Accounts payable | $65.0M | $77.0M | ||
| Short-term borrowings | $0 | $150.0M | ||
| Operating lease liabilities | $16.0M | $16.0M | ||
| Dividends payable | $83.0M | $75.0M | ||
| Interest payable | $11.0M | $12.0M | ||
| Property taxes payable | $48.0M | $42.0M | ||
| Accrued compensation | $25.0M | $19.0M | ||
| Contract liabilities | $25.0M | $18.0M | ||
| Other | $23.0M | $17.0M | ||
| Total Current Liabilities | $296.0M | $426.0M | ||
| Long-Term Debt, net | $3.3B | $3.3B | ||
| Deferred income taxes | $1.3B | $1.1B | ||
| Operating lease liabilities | $32.0M | $36.0M | ||
| Contract liabilities | $160.0M | $135.0M | ||
| Regulatory liabilities | $90.0M | $90.0M | ||
| Other | $30.0M | $34.0M | ||
| Total Other Liabilities | $1.6B | $1.4B | ||
| Total Liabilities | $5.2B | $5.2B | ||
| Preferred stock ($0.01 par value, 50,000,000 shares authorized, and no shares issued or outstanding as of December 31, 2025 and December 31, 2024) | $0 | $0 | ||
| Common stock ($0.01 par value, 550,000,000 shares authorized, and 101,673,925 and 101,324,894 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively) | $1.0M | $1.0M | ||
| Additional paid-in capital | $3.9B | $3.9B | ||
| Retained earnings | $827.0M | $723.0M | ||
| Accumulated other comprehensive loss | -$7.0M | -$8.0M | ||
| Total DT Midstream Equity | $4.7B | $4.6B | ||
| Noncontrolling interests | $142.0M | $139.0M | ||
| Total Equity | $4.9B | $4.8B | $4.3B | $4.2B |
| Total Liabilities and Equity | $10.1B | $9.9B | ||
| Allowance for expected credit loss | $0 | $0 | ||
| Consolidated assets | $10.1B | $9.9B | $9.0B | |
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 50.0M shares | 50.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 550.0M shares | 550.0M shares | ||
| Common stock, shares issued (in shares) | 101.7M shares | 101.3M shares | ||
| Common stock, shares outstanding (in shares) | 101.7M shares | 101.3M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $54.0M | $68.0M | ||
| Accounts receivable (net of $ allowance for expected credit loss for each period end) | $186.0M | $172.0M | ||
| Deferred property taxes | $42.0M | $33.0M | ||
| Taxes receivable | $2.0M | $8.0M | ||
| Prepaid expenses and other | $34.0M | $29.0M | ||
| Total Current Assets | $318.0M | $310.0M | ||
| Investments in equity method investees | $1.3B | $1.3B | $1.8B | |
| Property, plant, and equipment | $7.0B | $6.5B | ||
| Accumulated depreciation | -$1.2B | -$998.0M | ||
| Net Property, plant, and equipment | $5.8B | $5.5B | ||
| Goodwill | $781.0M | $776.0M | $473.0M | |
| Long-term notes receivable related party | $4.0M | $4.0M | ||
| Operating lease right-of-use assets | $46.0M | $49.0M | ||
| Intangible assets, net | $1.9B | $1.9B | ||
| Other | $50.0M | $51.0M | ||
| Total Other Assets | $2.7B | $2.8B | ||
| Accounts payable | $65.0M | $77.0M | ||
| Short-term borrowings | $0 | $150.0M | ||
| Operating lease liabilities | $16.0M | $16.0M | ||
| Dividends payable | $83.0M | $75.0M | ||
| Interest payable | $11.0M | $12.0M | ||
| Property taxes payable | $48.0M | $42.0M | ||
| Accrued compensation | $25.0M | $19.0M | ||
| Contract liabilities | $25.0M | $18.0M | ||
| Other | $23.0M | $17.0M | ||
| Total Current Liabilities | $296.0M | $426.0M | ||
| Long-Term Debt, net | $3.3B | $3.3B | ||
| Deferred income taxes | $1.3B | $1.1B | ||
| Operating lease liabilities | $32.0M | $36.0M | ||
| Contract liabilities | $160.0M | $135.0M | ||
| Regulatory liabilities | $90.0M | $90.0M | ||
| Other | $30.0M | $34.0M | ||
| Total Other Liabilities | $1.6B | $1.4B | ||
| Total Liabilities | $5.2B | $5.2B | ||
| Preferred stock ($0.01 par value, 50,000,000 shares authorized, and no shares issued or outstanding as of December 31, 2025 and December 31, 2024) | $0 | $0 | ||
| Common stock ($0.01 par value, 550,000,000 shares authorized, and 101,673,925 and 101,324,894 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively) | $1.0M | $1.0M | ||
| Additional paid-in capital | $3.9B | $3.9B | ||
| Retained earnings | $827.0M | $723.0M | ||
| Accumulated other comprehensive loss | -$7.0M | -$8.0M | ||
| Total DT Midstream Equity | $4.7B | $4.6B | ||
| Noncontrolling interests | $142.0M | $139.0M | ||
| Total Equity | $4.9B | $4.8B | $4.3B | $4.2B |
| Total Liabilities and Equity | $10.1B | $9.9B | ||
| Allowance for expected credit loss | $0 | $0 | ||
| Consolidated assets | $10.1B | $9.9B | $9.0B | |
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 50.0M shares | 50.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 550.0M shares | 550.0M shares | ||
| Common stock, shares issued (in shares) | 101.7M shares | 101.3M shares | ||
| Common stock, shares outstanding (in shares) | 101.7M shares | 101.3M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net Income | $454.0M | $367.0M | $396.0M |
| Depreciation and amortization | $258.0M | $209.0M | $182.0M |
| Stock-based compensation | $26.0M | $23.0M | $20.0M |
| Amortization of operating lease right-of-use assets | $17.0M | $18.0M | $18.0M |
| Deferred income taxes | $137.0M | $120.0M | $110.0M |
| Earnings from equity method investees | -$138.0M | -$162.0M | -$177.0M |
| Dividends from equity method investees | $138.0M | $161.0M | $196.0M |
| Loss from financing activities | $0 | $5.0M | $0 |
| Accounts receivable, net | -$24.0M | $11.0M | $7.0M |
| Accounts payable | -$13.0M | $11.0M | -$5.0M |
| Contract liabilities | $26.0M | $23.0M | $97.0M |
| Other current and noncurrent assets and liabilities | -$14.0M | -$23.0M | -$46.0M |
| Net cash and cash equivalents from operating activities | $867.0M | $763.0M | $798.0M |
| Plant and equipment expenditures | -$426.0M | -$350.0M | -$772.0M |
| Acquisition accounted for as a business combination (and purchase price adjustment) | $10.0M | -$1.2B | $0 |
| Distributions from equity method investees | $49.0M | $472.0M | $427.0M |
| Contributions to equity method investees | -$5.0M | -$5.0M | -$7.0M |
| Other investing activities | $0 | $0 | $1.0M |
| Net cash and cash equivalents used for investing activities | -$372.0M | -$1.1B | -$351.0M |
| Issuance of long-term debt, net of discount and issuance costs | $0 | $644.0M | $0 |
| Repayment of long-term debt | $0 | -$399.0M | $0 |
| Borrowings under the Revolving Credit Facility | $330.0M | $385.0M | $540.0M |
| Repayment of borrowings under the Revolving Credit Facility | -$480.0M | -$400.0M | -$705.0M |
| Payment of Revolving Credit Facility issuance costs | $0 | -$3.0M | $0 |
| Issuance of common stock, net of issuance costs | $0 | $406.0M | $0 |
| Contributions from noncontrolling interests | $7.0M | $0 | $0 |
| Distributions to noncontrolling interests | -$17.0M | -$17.0M | -$18.0M |
| Dividends paid on common stock | -$324.0M | -$280.0M | -$263.0M |
| Other financing activities | -$25.0M | -$6.0M | -$6.0M |
| Net cash and cash equivalents from (used for) financing activities | -$509.0M | $330.0M | -$452.0M |
| Net Increase (Decrease) in Cash and Cash Equivalents | -$14.0M | $12.0M | -$5.0M |
| Interest, net of interest capitalized | $152.0M | $140.0M | $140.0M |
| Plant and equipment expenditures in accounts payable and other accrued liabilities | $50.0M | $44.0M | $80.0M |
No quarter-by-quarter statement was filed.
Corporate structure
DT Midstream, Inc. sits at the top of its group. 15 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of DT Midstream, Inc.
- VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on DT Midstream, Inc., latest Apr 29, 2026
- VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on DT Midstream, Inc., latest Apr 29, 2026
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on DT Midstream, Inc., latest Mar 26, 2026 (6 filings since Dec 9, 2021)
- BlackRock Filed SCHEDULE 13G/A on DT Midstream, Inc., latest Oct 3, 2025 (7 filings since Jan 26, 2022)
- DT Midstream, Inc. Detroit, Michigan
- 1 Bluestone Pipeline Company of Pennsylvania, LLC Subsidiary · Pennsylvania, United States
- 10 Midwestern Gas Transmission Company Subsidiary · Delaware, United States
- 11 Stonewall Gas Gathering LLC Subsidiary · Delaware, United States
- 12 Stonewall Gas Holdings, LLC Subsidiary · Delaware, United States
- 13 Susquehanna Gathering Company I, LLC Subsidiary · Pennsylvania, United States
- 14 Viking Gas Transmission Company Subsidiary · Delaware, United States
- 2 DTM Appalachia Gathering, LLC Subsidiary · Delaware, United States
- 3 DTM Interstate Transportation, LLC Subsidiary · Delaware, United States
- 4 DTM LEAP Gas Gathering, LLC Subsidiary · Delaware, United States
- 5 DTM Louisiana Gathering, LLC Subsidiary · Delaware, United States
- 6 DTM Millennium Company Subsidiary · Michigan, United States
- 7 DTM Nexus, LLC Subsidiary · Delaware, United States
- 8 DTM Vector Company Subsidiary · Michigan, United States
- 9 Guardian Pipeline, LLC Subsidiary · Delaware, United States
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What DT Midstream, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $7.0B4 Dec 31, 2025 | $6.5B4 Dec 31, 2024 | +6.6% |
| Accumulated depreciation | $1.2B4 Dec 31, 2025 | $998.0M4 Dec 31, 2024 | +19.4% |
| Property and equipment, net | $5.8B4 Dec 31, 2025 | $5.5B4 Dec 31, 2024 | +4.3% |
| Operating-lease assets (leased space) | $46.0M4 Dec 31, 2025 | $49.0M4 Dec 31, 2024 | −6.1% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $54.0M4 Dec 31, 2025 | $68.0M4 Dec 31, 2024 | −20.6% |
| Stakes in other companies (equity method) | $1.3B4 Dec 31, 2025 | $1.3B4 Dec 31, 2024 | −3.4% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $781.0M4 Dec 31, 2025 | $776.0M4 Dec 31, 2024 | +0.6% |
| Intangible assets, net (excluding goodwill) | $1.9B4 Dec 31, 2025 | $1.9B4 Dec 31, 2024 | −3.1% |
| Finite-lived intangibles, gross | $2.3B4 Dec 31, 2025 | $2.3B4 Dec 31, 2024 | 0% |
| Accumulated amortization | $418.0M4 Dec 31, 2025 | $359.0M4 Dec 31, 2024 | +16.4% |
| Finite-lived intangibles, net | $1.9B4 Dec 31, 2025 | $1.9B4 Dec 31, 2024 | −3.1% |
Leadership
Who has led DT Midstream, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
2025
- Chief executive officerDavid Slater Jun 4, 2021 to now12
- ChairDavid Slater Feb 3, 2026 to now13
- ChairRobert C. Skaggs Jr. Jul 6, 2021 to May 12, 202314
- PresidentChristopher Zona Feb 3, 2026 to now15
- PresidentDavid Slater Jun 4, 2021 to Feb 3, 202612
- Chief financial officerJeffrey A. Jewell Jun 4, 2021 to now16
- Chief operating officerChristopher Zona Jul 6, 2021 to Jul 6, 202117
Board members and other officers (14)
- Sr. VP, Proj. Execution & Ops.Garrett Jacob Mehl Sep 18, 2026 to now18
- Chief Accounting OfficerJoseph Peter Finland Sep 23, 2025 to now19
- Sr. VP Admin.Melissa Cox May 13, 2022 to now20
- Chief Administrative OfficerRichard L. Redmond Jr. Jun 4, 2021 to Feb 25, 202221
- E.V.P., Chief Oper. Off.Christopher Zona Aug 3, 2021 to now22
- E.V.P., Gen Counsel & Corp SecWendy Ellis Aug 3, 2021 to now23
- Board memberAngela N. Archon May 9, 2023 to now24
- Board memberRobert C. Skaggs Jr. Jul 5, 2023 to now25
- Board memberDavid Slater Jun 4, 2021 to now12
- Board memberDwayne Andree Wilson Jun 17, 2021 to now26
- Board memberElaine M. Pickle Jul 6, 2021 to now27
- Board memberPeter I. Tumminello Jul 6, 2021 to now28
- Board memberWright Lassiter Iii. Jul 6, 2021 to May 10, 202229
- General counselWendy Ellis Jun 4, 2021 to Jun 4, 202130
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- 1 Bluestone Pipeline Company of Pennsylvania, LLC Pennsylvania3
- 10 Midwestern Gas Transmission Company Delaware3
- 11 Stonewall Gas Gathering LLC Delaware3
- 12 Stonewall Gas Holdings, LLC Delaware3
- 13 Susquehanna Gathering Company I, LLC Pennsylvania3
- 14 Viking Gas Transmission Company Delaware3
- 2 DTM Appalachia Gathering, LLC Delaware3
- 3 DTM Interstate Transportation, LLC Delaware3
- 4 DTM LEAP Gas Gathering, LLC Delaware3
- 5 DTM Louisiana Gathering, LLC Delaware3
- 6 DTM Millennium Company Michigan3
- 7 DTM Nexus, LLC Delaware3
- 8 DTM Vector Company Michigan3
- 9 Guardian Pipeline, LLC Delaware3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Jul 30, 20268-K Results of operations; Regulation FD disclosure31
- May 12, 20268-K Executive or director change32
- May 7, 20268-K Shareholder vote33
- Apr 30, 20268-K Results of operations; Regulation FD disclosure34
- Feb 19, 20268-K Results of operations; Regulation FD disclosure35
- Jan 29, 20268-K Executive or director change36
- Oct 30, 20258-K Results of operations; Regulation FD disclosure37
- Sep 22, 20258-K Executive or director change38
- Jul 31, 20258-K Results of operations; Regulation FD disclosure39
- May 20, 20258-K Regulation FD disclosure40
- May 9, 20258-K Bylaws or fiscal year changed; Shareholder vote41
- Apr 30, 20258-K Results of operations; Regulation FD disclosure42
- Jun 4, 2021New chief executive David Slater becomes CEO12
Calendar
Coming up
- Oct 29, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $1.13 a share, on Oct 30, 2025.43
When it reported results
- Jul 30, 2026Reported quarterly or annual results31
- Apr 30, 2026Reported quarterly or annual results34
- Feb 19, 2026Reported quarterly or annual results35
- Oct 30, 2025Reported quarterly or annual results37
- Jul 31, 2025Reported quarterly or annual results39
- Apr 30, 2025Reported quarterly or annual results42
- Feb 26, 2025Reported quarterly or annual results44
- Oct 29, 2024Reported quarterly or annual results45
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
279 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 57 major events, 161 insider forms, 15 large holders, 26 other. The latest 20:
- Sep 18, 20263 EDGAR
- Aug 10, 20264 EDGAR
- Aug 5, 20264 EDGAR
- Jul 30, 202610-Q EDGAR
- Jul 30, 20268-K EDGAR
- May 15, 20264 EDGAR
- May 12, 20268-K EDGAR
- May 7, 20264 EDGAR
- May 7, 20264 EDGAR
- May 7, 20264 EDGAR
- May 7, 20264 EDGAR
- May 7, 20264 EDGAR
- May 7, 20264 EDGAR
- May 7, 20268-K EDGAR
- May 6, 20264 EDGAR
- Apr 30, 202610-Q EDGAR
- Apr 30, 20268-K EDGAR
- Apr 29, 2026SCHEDULE 13G EDGAR
- Apr 29, 2026SCHEDULE 13G EDGAR
- Mar 26, 2026ARS EDGAR
The 279 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
48 open-market trades by officers, directors and large owners since October 2021: 44 buys and 4 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 7, 2026 | Pickle Elaine MDirector | Buy | 1,500 | $132.61 | $198.9K | Form 4 |
| Aug 5, 2026 | Jewell Jeffrey AExecutive V.P., CFO | Buy | 145 | $133.78 | $19.4K | Form 4 |
| May 15, 2026 | Jewell Jeffrey AExecutive V.P., CFO | Buy | 150 | $147.73 | $22.2K | Form 4 |
| Feb 26, 2026 | Tumminello Peter IDirector | Sale | 2,002 | $135.79 | $271.9K | Form 4 |
| Feb 25, 2026 | Jewell Jeffrey AExecutive V.P., CFO | Buy | 185 | $136.33 | $25.2K | Form 4 |
| Aug 11, 2025 | Cox MelissaE.V.P., Chief Admin. Off. | Sale | 4,755 | $104.47 | $496.8K | Form 4 |
| Aug 7, 2025 | Jewell Jeffrey AExecutive V.P., CFO | Buy | 150 | $104.38 | $15.7K | Form 4 |
| May 9, 2025 | Jewell Jeffrey AExecutive V.P., CFO | Buy | 65 | $100.15 | $6.5K | Form 4 |
| Mar 10, 2025 | SKAGGS ROBERT C JRDirector | Buy | 1,000 | $86.92 | $86.9K | Form 4 |
| Mar 4, 2025 | Ellis WendyE.V.P., Gen Counsel & Corp Sec | Sale | 18,854 | $93.02 | $1.8M | Form 4 |
| Mar 3, 2025 | Jewell Jeffrey AExecutive V.P., CFO | Buy | 170 | $96.69 | $16.4K | Form 4 |
| Jan 16, 2025 | SKAGGS ROBERT C JRDirector | Buy | 0 | $112.27 | $4 | Form 4 |
| Oct 17, 2024 | SKAGGS ROBERT C JRDirector | Buy | 0 | $85.63 | $4 | Form 4 |
| Oct 14, 2024 | Tumminello Peter IDirector | Buy | 73 | $86.28 | $6.3K | Form 4 |
| Aug 9, 2024 | Jewell Jeffrey AExecutive V.P., CFO | Buy | 200 | $74.22 | $14.8K | Form 4 |
| Jul 16, 2024 | SKAGGS ROBERT C JRDirector | Buy | 0 | $69.91 | $4 | Form 4 |
| Jul 12, 2024 | Tumminello Peter IDirector | Buy | 88 | $71.13 | $6.3K | Form 4 |
| May 3, 2024 | Jewell Jeffrey AExecutive V.P., CFO | Buy | 400 | $62.80 | $25.1K | Form 4 |
| Apr 17, 2024 | SKAGGS ROBERT C JRDirector | Buy | 0 | $60.80 | $4 | Form 4 |
| Apr 11, 2024 | Tumminello Peter IDirector | Buy | 98 | $62.99 | $6.2K | Form 4 |
All 48 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 202646
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 202647
- VANGUARD GROUP INCSCHEDULE 13G/A, 6 filings Dec 9, 2021 to Mar 26, 202648
- BlackRockSCHEDULE 13G/A, 7 filings Jan 26, 2022 to Oct 3, 202549
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | David SlaterExecutive Chairman and Chief Executive Officer | 60 | $852.2K | $9.3M50 |
| 2025 | Christopher ZonaPresident and Chief Operating Officer | 54 | $536.9K | $3.3M50 |
| 2025 | Jeffrey JewellExecutive Vice President and Chief Financial Officer | 58 | $514.6K | $3.1M50 |
| 2025 | Wendy EllisExecutive Vice President, General Counsel and Corporate Secretary | 61 | $468.6K | $2.3M50 |
| 2025 | Melissa CoxExecutive Vice President and Chief Administrative Officer | 56 | $435.6K | $1.5M50 |
| 2024 | David SlaterExecutive Chairman and Chief Executive Officer | 60 | $820.5K | $9.0M50 |
| 2024 | Christopher ZonaPresident and Chief Operating Officer | 54 | $511.0K | $3.8M50 |
| 2024 | Jeffrey JewellExecutive Vice President and Chief Financial Officer | 58 | $496.0K | $3.6M50 |
| 2024 | Wendy EllisExecutive Vice President, General Counsel and Corporate Secretary | 61 | $432.8K | $2.7M50 |
| 2024 | Melissa CoxExecutive Vice President and Chief Administrative Officer | 56 | $400.6K | $1.4M50 |
| 2023 | David SlaterExecutive Chairman and Chief Executive Officer | 60 | $776.9K | $8.0M50 |
| 2023 | Christopher ZonaPresident and Chief Operating Officer | 54 | $493.1K | $2.9M50 |
| 2023 | Jeffrey JewellExecutive Vice President and Chief Financial Officer | 58 | $481.5K | $2.7M50 |
| 2023 | Wendy EllisExecutive Vice President, General Counsel and Corporate Secretary | 61 | $413.1K | $1.9M50 |
| 2023 | Melissa CoxExecutive Vice President and Chief Administrative Officer | 56 | $366.9K | $1.2M50 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 11,398,947 | $1.7B | 0.0% | +481,899 |
| Vanguard Portfolio Management LLC | 5,778,907 | $848.0M | 0.0% | −105,332 |
| Vanguard Capital Management LLC | 4,607,124 | $676.0M | 0.0% | +42,540 |
| Geode Capital Management, LLC | 3,401,455 | $499.2M | 0.0% | +1,090,501 |
| State Street Corp | 3,377,042 | $498.5M | 0.0% | +130,697 |
| Deutsche Bank Ag\ | 3,034,454 | $445.3M | 0.1% | −21,987 |
| Neuberger Berman Group LLC | 2,989,882 | $438.8M | 0.3% | +52,474 |
| Tortoise Capital Advisors, L.l.c. | 2,975,967 | $436.7M | 4.4% | −31,592 |
| Blackstone Inc. | 2,490,513 | $365.5M | 1.2% | −189,743 |
| Dimensional Fund Advisors LP | 2,274,247 | $333.7M | 0.1% | −2,597 |
| 59 North Capital Management, LP | 1,974,250 | $289.7M | 6.4% | −647,659 |
| Goldman Sachs Group Inc | 1,943,875 | $285.2M | 0.0% | −222,331 |
| Clearbridge Investments, LLC | 1,595,854 | $234.2M | 0.2% | +1,352,416 |
| Massachusetts Financial Services Co /ma/ | 1,475,520 | $232.7M | 0.1% | +932,413 |
| Morgan Stanley | 1,161,155 | $170.4M | 0.0% | +146,224 |
| Capital Research Global Investors | 1,148,214 | $168.5M | 0.0% | +11,251 |
| Citadel Advisors LLC | 1,127,342 | $165.4M | 0.1% | −213,475 |
| Invesco Ltd. | 1,088,844 | $159.8M | 0.0% | +96,888 |
| Reaves W H & Co Inc | 1,075,353 | $157.8M | 2.4% | +142,870 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 1,065,100 | $156.3M | 0.2% | +6,328 |
| Westwood Holdings Group Inc | 1,040,102 | $152.6M | 1.1% | −35,147 |
| Merewether Investment Management, LP | 946,016 | $138.8M | 2.6% | +111,010 |
| Northern Trust Corp | 914,500 | $134.2M | 0.0% | +6,252 |
| Bank of New York Mellon Corp | 852,770 | $125.1M | 0.0% | −39,583 |
| Norges Bank | 808,837 | $118.7M | 0.0% | New |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
3 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Apr 7, 2025 | Julie JohnsonDemocratic, House | Sale | $1,001 - $15,000 | +13.5% | Report |
| May 1, 2024 | Maria Elvira SalazarRepublican, House | Buy | $15,001 - $50,000 | +46.4% | Report |
| Jul 1, 2021 | Christopher L. Jacobs, House | Exchange | $1,001 - $15,000 | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How DT Midstream, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARDT Midstream, Inc.1
- CIK0001842022
- Employer ID (EIN)38-266396451
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company51
- Incorporated inDelaware51
- Fiscal year endsDecember 311
- Industry code (SIC)4922 Natural Gas Transmission1
- SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
- Business address500 Woodward Avenue, Suite 2900, Detroit, MI 48226-12791
- Phone313-402-85321
- Shares outstanding102,015,296 as of Jun 30, 202611
- Public float$11.0B as of Jun 30, 202551
- AuditorPricewaterhouseCoopers LLP, Detroit, Michigan PCAOB ID 238; it also attests to the company’s internal control over financial reporting51
- On EDGAR sinceFeb 5, 20211
- Filings331 in all: 4 (167), 8-K (65), 10-Q (16), 3 (16), SC 13G/A (8), UPLOAD (6), 10-K (5), DEF 14A (5)1
All 28 form types
DEFA14A (5), ARS (4), CORRESP (4), 144 (3), SC 13G (3), SCHEDULE 13G/A (3), 10-12B/A (2), 4/A (2), 424B5 (2), DRS/A (2), DRSLTR (2), S-8 (2), SCHEDULE 13G (2), 10-12B (1), 144/A (1), CERT (1), DRS (1), PRE 14A (1), S-3ASR (1), SEC STAFF ACTION (1)
- Latest filingsAnnual report (10-K) Feb 19, 2026
Quarterly report (10-Q) Jul 30, 2026
Proxy statement (DEF 14A) Mar 26, 2026
Latest 8-K (8-K) Jul 30, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common stock, par value $0.01 | DTM | New York Stock Exchange |
From the cover page of the 10-K filed Feb 19, 2026 (Section 12(b) of the Exchange Act).51
Risk factors and legal proceedings
The risks DT Midstream, Inc. names in Item 1A of its 10-K filed Feb 19, 2026: 40 risks under these headings, as written.51
- Risks Relating to Our Business
- Operational Risks
- Any significant decrease in production or in demand of natural gas in our asset footprint could materially adversely affect our business, financial condition and results of operations.
- We have one key customer, Expand Energy. The loss of, or reduction in volumes from, this customer could result in a decline in demand for our services and materially adversely affect our business, financial condition and results of operations.
- We may be unable to renew or replace expiring contracts at favorable rates or on a long-term basis.
- If third-party pipelines and other facilities interconnected to our assets become unavailable to transport natural gas, it could materially adversely affect our business, financial condition and results of operations.
- Our operations are subject to operational hazards, unforeseen interruptions and damage caused by third parties and natural events. If a significant accident or event occurs that results in a business interruption or damage to our pipelines, storage and gathering systems, the facilities of our customers or other interconnected pipelines and facilities, it could materially adversely affect our business, financial condition and results of operations.
- Failure to successfully complete or realize the projected benefits of acquisitions, divestitures, and other strategic transactions may adversely affect our future results.
- Expansion projects that are expected to be accretive, may nevertheless reduce our cash from operations and could materially adversely affect our business, financial condition and results of operations.
- We have entered into joint ventures, and may in the future enter into additional or modify existing joint ventures, which might restrict our operational and corporate flexibility. In addition, these joint ventures are subject to most of the same operational risks to which we are subject.
- We do not own the majority of the land on which our assets are located, which could disrupt our current and future operations.
- We face and will continue to face opposition to the development or operation of our assets from various groups.
The other 30 risks
- The expansion of our existing assets and construction of new assets is subject to economic, market, regulatory, environmental, political, and legal risks, which could materially adversely affect our business, financial condition and results of operations. If we are unable to complete expansion projects, our future growth may be limited.
- Failure to retain and attract key executives and other skilled professional and technical employees could materially adversely affect our business, financial condition and results of operations.
- The lack of diversification of our assets and geographic locations could materially adversely affect our business, financial condition and results of operations.
- Liquidity, Credit and Financial Risks
- We may not have access to additional financing sources on favorable terms, or at all, which could materially adversely affect our business, financial condition and results of operations, and independent third parties determine our credit ratings outside of our control.
- Fluctuations in energy prices could materially adversely affect our business, financial condition and results of operations.
- We are exposed to our customers’ credit risk and our credit risk management and contractual terms may be inadequate to protect against such risk.
- Our existing and future level of debt may limit our flexibility to obtain additional financing and to pursue other business opportunities.
- Increases in interest rates could increase our interest expense and may adversely affect our cash flows, our ability to service our indebtedness and our ability to pay dividends to our shareholders.
- Restrictions under our existing or any future credit facilities, indentures and senior notes could adversely affect our business, financial condition, results of operations and ability to pay dividends to our shareholders.
- Inflation and cost increases may impact our sales margins and profitability.
- If our intangible assets, goodwill, property, plant and/or equipment become impaired, we may be required to record a charge to earnings.
- Regulatory Risks
- The adoption of legislation and introduction of regulations relating to hydraulic fracturing and the enactment of new or increased severance taxes and impact fees on natural gas production could cause our current and potential customers to reduce the number of future wells or curtail production of existing wells. If reductions are significant for those or other reasons, the reductions could materially adversely affect our business, financial condition and results of operations.
- Risks related to climate change could materially adversely affect our business, financial condition, results of operations, cash flow, access to and cost of capital or insurance, reputation, and business strategies.
- Our operations are subject to environmental laws and regulations that may expose us to significant costs and liabilities, and changes in these laws and regulations could materially adversely affect our business, financial condition and results of operations.
- Our natural gas transportation and storage operations are subject to extensive regulation by FERC and state regulatory authorities, and changes in FERC or state regulation could materially adversely affect our business, financial condition and results of operations.
- We are exposed to costs associated with lost and unaccounted-for volumes.
- A change in the jurisdictional characterization of our gathering assets may result in increased regulation by FERC, which could cause our revenues to decline and operating expenses to increase and could materially adversely affect our business, financial condition and results of operations.
- State and local legislative and regulatory initiatives relating to gas operations could adversely affect our services and customers’ production and therefore, materially adversely affect our business, financial condition and results of operations.
- Changes in tax laws or regulations may have a material adverse effect on our business, cash flow, financial condition or results of operations.
- Some of our operations cross the U.S./Canada border and are subject to cross-border regulation and potential tariffs which may have a material impact on our business, cash flow, financial condition or results of operations.
- Pipeline Safety and Maintenance Risks
- We may incur significant costs and liabilities to maintain our pipeline integrity management program and related testing, pipeline repair, and preventative or remedial measures, as well as other operational and maintenance requirements and assessments.
- Certain portions of our pipelines, storage and gathering infrastructure are aging, which could materially adversely affect our business, financial condition and results of operations.
- Our insurance policies do not cover all losses, costs or liabilities that we may experience, and there is no assurance that we will be able to purchase cost effective insurance in the future.
- A terrorist attack or armed conflict event, or the threat of them, could harm our business.
- Other Business Risks
- Customers’, legislators’ or regulators’ perceptions of us are affected by many factors, including environmental and safety concerns, pipeline reliability, protection of customer information, media coverage, and public sentiment. Customers’, legislators’ or regulators’ negative opinion of us could materially adversely affect our business, financial condition and results of operations.
- We are subject to cybersecurity and data privacy laws, regulations, litigation and directives relating to our processing of personal data.
- A cyberattack or threat could harm our business.
- Treated gas produced by Clean Fuels Gathering may not qualify for federal income tax credits for clean fuel production as had been projected.
- Risks Related to the Separation
- We agreed to numerous restrictions to preserve the non-recognition treatment of the Distribution, and we could have an indemnification obligation to DTE Energy in accordance with the terms of the Tax Matters Agreement if the Distribution were determined not to qualify for non-recognition treatment for U.S. federal tax purposes.
- The Separation may expose us to potential liabilities arising out of state and U.S. federal fraudulent conveyance laws and legal dividend requirements.
Legal proceedings
For information on legal proceedings and matters related to DT Midstream, see Note 12, "Commitments and Contingencies" to the Consolidated Financial Statements under Part II, Item 8 of this Form 10-K.
The opening of Item 3, Legal Proceedings.51
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 13SEC EDGARDavid Slater, Chair
- 14SEC EDGARRobert C. Skaggs Jr., Chair
- 15SEC EDGARChristopher Zona, President
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- 17
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- 19
- 20SEC EDGARMelissa Cox, Sr. VP Admin.
- 21
- 22
- 23
- 24SEC EDGARAngela N. Archon, Board member
- 25SEC EDGARRobert C. Skaggs Jr., Board member
- 26SEC EDGARDwayne Andree Wilson, Board member
- 27SEC EDGARElaine M. Pickle, Board member
- 28SEC EDGARPeter I. Tumminello, Board member
- 29SEC EDGARWright Lassiter Iii., Board member
- 30SEC EDGARWendy Ellis, General counsel
- 31
- 32SEC EDGARExecutive or director change
- 33SEC EDGARShareholder vote
- 34
- 35
- 36SEC EDGARExecutive or director change
- 37
- 38SEC EDGARExecutive or director change
- 39
- 40SEC EDGARRegulation FD disclosure
- 41
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- 43NasdaqNasdaq calendar
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