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: $150.60 DETAILS
HIGH: $176.00
LOW: $127.00
MEDIAN: $151.00
CONSENSUS: $150.60
UPSIDE: 3.74%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 80% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Overvalued Moderate
Trading 39.1% above fair value
Current Price $145.17
Bear Case $83.50 42.5% downside ($83.50 - $145.17) / $145.17 = -42.5% $5.82 × 13x P/E
Fair Value $104.38 28.1% downside ($104.38 - $145.17) / $145.17 = -28.1% $5.82 × 16x P/E
Bull Case $125.25 13.7% downside ($125.25 - $145.17) / $145.17 = -13.7% $5.82 × 19x P/E

Adjust Assumptions

16.0x
5.82$

Key Value Driver

Normalized P/E multiple (16x base case)

Implied Market Multiple 25.0x

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 $150.60 from 13 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $104.38 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 $150.60 (from 13 analysts). Our estimate is 38% 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