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DT Midstream, Inc. (DTM)
Natural Gas Transmission
Latest Price
$119.47
TTM P/E
26.20
Normalized P/E
30.04
Div Yield
2.85%
Book Value
46.85
P/B Ratio
2.55
Valuation metrics
adjust assumptions →EPS: $4.30
Book value / share: $46.58
Formula: √(22.5 × EPS × BVPS)
Graham Number
$67.13
44% downside
Norm. op. income: $478M (median of 5yr)
Tax rate: 24%
Discount rate: 10%
Growth assumption: zero (EPV is a no-growth value)
Earnings Power Value
$3.53
97% downside
Base FCF: $413M (median of recent 5yr)
Growth: -2%/yr (median YOY, capped at 25%)
Discount rate: 10%
Terminal growth: 3%
Projection horizon: 10 years
DCF Fair Value
$9.93
92% downside
EPS: $4.30
Target P/E: 30×
Formula: EPS × P/E
P/E Fair Value
$129.00
+8% upside
Institutional Ownership
85.4% held by institutions| Institution | Shares | Value | Ownership % | Change | Filing Date |
|---|---|---|---|---|---|
| BlackRock, Inc. | 11.40M | $1.67B | 11.17% | +481.9K | 2026-06-30 |
| Vanguard Portfolio Management LLC | 5.78M | $847.0M | 5.66% | -105.3K | 2026-06-30 |
| Vanguard Capital Management LLC | 4.61M | $676.0M | 4.52% | +42.5K | 2026-06-30 |
| Geode Capital Management, LLC | 3.40M | $499.0M | 3.33% | +1.09M | 2026-06-30 |
| State Street Corp | 3.38M | $498.0M | 3.31% | +130.7K | 2026-06-30 |
| Deutsche Bank AG\ | 3.03M | $445.0M | 2.97% | -22.0K | 2026-06-30 |
| Neuberger Berman Group LLC | 2.99M | $438.0M | 2.93% | +52.5K | 2026-06-30 |
| Tortoise Capital Advisors, L.L.C. | 2.98M | $436.0M | 2.92% | -31.6K | 2026-06-30 |
| Blackstone Inc. | 2.49M | $365.0M | 2.44% | -189.7K | 2026-06-30 |
| Dimensional Fund Advisors LP | 2.27M | $333.0M | 2.23% | -2.6K | 2026-06-30 |