DT Midstream Supercharges the Northern Corridor—Will Minnesota, Wisconsin, & Iowa Drive Its Next Breakout?

DT Midstream (DTM) delivered a robust financial performance for the third quarter of 2025, exemplifying its strength in executing strategic growth initiatives and optimizing operational efficiencies. The company raised its 2025 adjusted EBITDA guidance midpoint by 18% compared to the prior year, reaching $1.13 billion, and reaffirmed its 2026 adjusted EBITDA outlook. This increase underscores DTM’s successful adaptation to changing market dynamics and its ability to leverage its infrastructure for higher profitability. A key strategic highlight is the final investment decision (FID) on the G3+ expansion of the Guardian Pipeline, increasing its capacity by around 537 million cubic feet per day, a substantial 40% increase. This investment is underpinned by 20-year contracts with five investment-grade utilities, ensuring long-term stability and revenue. The company’s integration of its broader asset portfolio, including the Vector and Midwestern pipelines, further enhances its strategic positioning to meet growing gas and power demand.