DT Midstream, Inc. logo DTM - DT Midstream, Inc.

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 5
HOLD 7
SELL 1
STRONG
SELL
0
| PRICE TARGET: $148.00 DETAILS
HIGH: $170.00
LOW: $127.00
MEDIAN: $150.00
CONSENSUS: $148.00
DOWNSIDE: 2.06%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 80% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Overvalued Strong
Trading 45.5% above fair value
Current Price $151.12
Bear Case $83.09 45.0% downside ($83.09 - $151.12) / $151.12 = -45.0% $5.82 × 13x P/E
Fair Value $103.86 31.3% downside ($103.86 - $151.12) / $151.12 = -31.3% $5.82 × 16x P/E
Bull Case $124.63 17.5% downside ($124.63 - $151.12) / $151.12 = -17.5% $5.82 × 19x P/E

Adjust Assumptions

16.0x
5.82$

Key Value Driver

Normalized P/E multiple (16x base case)

Implied Market Multiple 26.0x

Plain-Language Summary

Our base-case estimate uses a valuation based on adjusted earnings per share and a normalized price-to-earnings multiple. We then blend that result with the average analyst price target of $148.00 from 13 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $103.86 per share.

Warnings

The company's reported profits differ from official accounting profits by 31%. Check what costs are being left out of the adjusted number.
Dividend-based valuation: $243.66 (above our primary estimate by 162%). Large gaps may signal the dividend doesn't reflect full earning power.
Wall Street's average price target is $148.00 (from 13 analysts). Our estimate is 37% below the consensus -- consider that gap carefully.

Key Risks

  • Growth DCF inappropriate — terminal value assumptions dominate
  • EV/EBITDA misleading for regulated businesses where capex is mandated
  • Regulatory risk is a fat tail not visible in normal multiples