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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 (NYSE: DTM) reported a strong start to 2022 with a net income of $81 million ($0.84 per diluted share) and an adjusted EBITDA of $191 million for Q1. The company reaffirms its adjusted EBITDA guidance for 2022 at $770 to $810 million and an early outlook for 2023 at $810 to $850 million. Key achievements include agreements to expand the Appalachia Gathering System and a new five-year contract on NEXUS for 100 MMcf/d of capacity. The company is also partnering with Cheniere to deploy emissions monitoring equipment, enhancing its sustainability efforts.
DT Midstream (NYSE: DTM) will announce its first quarter 2022 financial results on May 5, 2022, before the market opens. A conference call is scheduled for 9 a.m. ET the same day, accessible via a live internet broadcast. The company, based in Detroit, operates natural gas pipelines and facilities across the U.S. and Canada, with a commitment to achieving net zero greenhouse gas emissions by 2050, including a 30% reduction target within the next decade. Interested parties can find more information on the company's website.
DT Midstream (NYSE: DTM) announced its collaboration with Cheniere Energy and other partners to enhance monitoring of greenhouse gas emissions in midstream systems. The initiative includes advanced technologies like ground-based and drone-based emissions monitoring, aimed at achieving carbon neutrality by 2050. This six-month program will ensure rigorous data verification by Colorado State University and the University of Texas. DT Midstream’s involvement underscores its commitment to providing cleaner energy solutions and aligns with its goal of reducing carbon emissions by 30% over the next decade.
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.
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