Welcome to our dedicated page for DT Midstream news (Ticker: DTM), a resource for investors and traders seeking the latest updates and insights on DT Midstream stock.
DT Midstream, Inc. (NYSE: DTM) is a leading provider of natural gas infrastructure, owning and operating an extensive network of interstate and intrastate pipelines, storage, and gathering systems across the Southern, Northeastern, and Midwestern United States and Canada. Headquartered in Detroit, the company plays a crucial role in transporting clean natural gas to utilities, power plants, marketers, large industrial customers, and energy producers. DT Midstream's integrated services span natural gas transportation, storage, gathering, compression, treatment, and surface facilities.
Recent Achievements and Projects
- The LEAP Phase 1 expansion was commissioned early in August 2023, boosting capacity from 1.0 Bcf/d to 1.3 Bcf/d ahead of schedule. Phases 2 and 3 are on track for early 2024 and late 2024, respectively.
- In November 2023, DT Midstream reported a net income of $91 million for Q3, alongside a $0.69 per share dividend declared for January 2024.
- The company completed Phase 2 of the LEAP expansion in December 2023, raising capacity to 1.7 Bcf/d, expected to be available from January 2024.
- February 2024 saw DT Midstream achieving a net income of $121 million for Q4 and surpassing its annual guidance.
- For Q1 2024, the company reported a net income of $97 million, maintaining a strong start with plans for further growth projects.
Financial Performance
DT Midstream consistently demonstrates robust financial performance, with significant revenue generated from its pipeline, storage, and gathering systems. The company reported a series of strong quarterly results in 2023 and early 2024, reflecting its capacity to meet and exceed financial goals.
Sustainability Initiatives
DT Midstream is committed to achieving net-zero greenhouse gas emissions by 2050, with interim targets of a 30% reduction by 2030. The company continuously invests in low-carbon technologies and sustainable practices to align with global energy transition goals.
For more details about DT Midstream's latest updates, financial performance, and sustainability initiatives, please visit the DT Midstream website.
DT Midstream, Inc. (NYSE: DTM) reported strong first quarter 2024 results with a net income of $97 million, or $0.99 per diluted share. Operating Earnings and Adjusted EBITDA were $97 million and $245 million respectively. The company declared a $0.735 per share dividend on its common stock. Significant business updates include the expansion of the Stonewall Gas Gathering system, completion of interconnect projects, and progress in the carbon capture and sequestration project in Louisiana.
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