DT Midstream Announces $1.2 Billion Acquisition of Strategic Midwest FERC-Regulated Natural Gas Pipelines
DT Midstream, Inc. (DTM)
Company Research
Source: GlobeNewswire
Three regulated natural gas transmission pipelines with total capacity of more than 3.7 Bcf/d across the Upper Midwest Premier assets with a high-quality demand-pull customer baseConnected to DTM’s existing assets and strategically located to take advantage of strong power demand fundamentals DETROIT, Nov. 19, 2024 (GLOBE NEWSWIRE) -- DT Midstream, Inc. (NYSE: DTM) today announced that it has reached an agreement to acquire a portfolio of three FERC-regulated natural gas transmission pipelines from ONEOK, Inc. (NYSE: OKE) for $1.2 billion. The pipelines have a total capacity of more than 3.7 Bcf/d with approximately 1,300 miles across seven states in the attractive Midwest market region which is expected to experience continued growth in power demand. The acquisition price represents an approximately 10.5x 2025 EBITDA multiple. Under the terms of the agreement, DT Midstream will acquire 100% operating ownership in Guardian Pipeline, Midwestern Gas Transmission and Viking G
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DTM
News
- DT Midstream, Inc. (NYSE: DTM) had its price target raised by analysts at The Goldman Sachs Group, Inc. from $74.00 to $94.00. They now have a "sell" rating on the stock.MarketBeat
- DT Midstream, Inc. (NYSE: DTM) was upgraded by analysts at Stifel Nicolaus from a "hold" rating to a "buy" rating. They now have a $106.00 price target on the stock, up previously from $89.00.MarketBeat
- DT Midstream Announces Closing of Offering of Senior Secured NotesGlobeNewswire
- This High-Yield Dividend Stock Continues Its Wheeling and Dealing With $5.5 Billion of Additional Deals [Yahoo! Finance]Yahoo! Finance
- ONEOK's $4.3 Billion Power Play: Dominating the Permian Energy Game [Yahoo! Finance]Yahoo! Finance
DTM
Earnings
- 10/29/24 - Beat
DTM
Sec Filings
- 12/12/24 - Form 8-K
- 12/6/24 - Form 4/A
- 12/6/24 - Form 8-K
- DTM's page on the SEC website