- DTM -1.80%
DT Midstream, Inc. (NYSE:DTM) is included among the 14 Best Up and Coming Dividend Stocks to Buy.
DT Midstream (DTM) Price Target Increased by Morgan Stanley After “Relatively In-Line” Q3 Earnings Image by Steve Buissinne from Pixabay
Morgan Stanley lifted its price target on DT Midstream, Inc. (NYSE:DTM) to $137 from $126 on November 12, while maintaining an Underweight stance, as reported by The Fly. The adjustment came as the firm updated its estimates following what it described as a “relatively in-line midstream and renewable infrastructure” Q3 earnings stretch.
DT Midstream, Inc. (NYSE:DTM) reported Adjusted EBITDA of $288 million for the quarter, up $11 million from Q2. Performance in the pipeline segment was broadly steady, while the gathering segment improved by $10 million thanks to stronger Haynesville volumes. The company also trimmed its 2025 growth capital outlook to between $385 million and $415 million and is projecting year-end leverage of roughly 3.1x.
Management raised its distributable cash flow guidance to a range of $800 million to $830 million, lifting the midpoint by $45 million on the back of lower spending on maintenance, reduced interest costs, and lighter cash taxes. The company also reiterated plans to increase dividends by 5% to 7% annually, keeping the third-quarter payout at $0.82 per share.
DT Midstream, Inc. (NYSE:DTM) operates a broad network of natural gas pipelines, storage infrastructure, gathering systems, compression assets, and related surface facilities across interstate and intrastate markets.
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