DT Midstream (DTM) vs Plains All American Pipeline L.P. (PAA)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Plains All American Pipeline L.P. (PAA) has outperformed DT Midstream (DTM) over the past year, gaining 44.3% versus a gain of 7.6%. Over five years, DTM leads with a +145.8% price change compared with +116.8% for PAA. Plains All American Pipeline L.P. is the larger company by market cap ($17.00 billion vs $12.52 billion), about 1.4 times the size, while DT Midstream is growing revenue faster (+26.7% vs -9.5%).
On valuation, Plains All American Pipeline L.P. trades at a lower forward P/E (12.6x vs 25.3x for DT Midstream). Plains All American Pipeline L.P. offers the higher dividend yield (6.78% vs 2.77%). DT Midstream converts more of its revenue into profit, with a net margin of 35.5% versus 3.2%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | DTM | PAA |
|---|---|---|
| Share price | $122.69 | $24.09 |
| Market cap | $12.52B | $17.00B |
| 1-day change | -1.53% | +0.12% |
| YTD return | +2.52% | +33.96% |
| 1-year return | +7.61% | +44.33% |
| 5-year return | +145.77% | +116.76% |
| P/E ratio (TTM) | 26.85 | 20.77 |
| Forward P/E | 25.29 | 12.59 |
| EPS (TTM) | $4.57 | $1.16 |
| Dividend yield | 2.77% | 6.78% |
| Annual dividend | $3.40 | $1.63 |
| Revenue (latest FY) | $1.24B | $44.26B |
| Revenue growth (YoY) | +26.71% | -9.46% |
| Net income (latest FY) | $441.00M | $1.44B |
| Gross margin | — | 8.65% |
| Operating margin | 49.40% | 3.24% |
| Net margin | 35.48% | 3.24% |
| 52-week high | $152.88 | $26.39 |
| 52-week low | $104.99 | $15.69 |
| Distance from 52-week high | -19.75% | -8.72% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +24.38% | +8.47% |
| Average volume | 917.64K | 2.53M |
| Shares outstanding | 102.02M | 705.57M |
| Employees | 588 | 3,900 |
| Sector | Utilities | Energy |
| Industry | Natural Gas Distribution | Natural Gas Distribution |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- PAA has outperformed DTM by 36.7 percentage points over the past year.
- DT Midstream trades at a higher earnings multiple (26.8x vs 20.8x trailing P/E).
- Plains All American Pipeline L.P. offers a meaningfully higher dividend yield (6.78% vs 2.77%).
- DT Midstream is more profitable, keeping 35.5 cents of every revenue dollar as net income versus 3.2 cents for Plains All American Pipeline L.P..
- DT Midstream grew revenue faster in its latest fiscal year (+26.71% vs -9.46%).
- The two companies sit in different sectors: DT Midstream in Utilities and Plains All American Pipeline L.P. in Energy.
About DT Midstream
DTM stock →DT Midstream, Inc., together with its subsidiaries, provides integrated natural gas services in the United States. The company operates in two segments, Pipeline and Gathering.
Utilities · Natural Gas Distribution · 588 employees
About Plains All American Pipeline L.P.
PAA stock →Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL.
Energy · Natural Gas Distribution · 3,900 employees
DTM vs PAA FAQ
Which is bigger, DT Midstream or Plains All American Pipeline L.P.?
Plains All American Pipeline L.P. (PAA) is larger, with a market capitalization of $17.00B compared with $12.52B for DT Midstream (DTM).
Which stock has performed better over the past year, DTM or PAA?
PAA returned +44.33% over the past 12 months, compared with +7.61% for DTM (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, DTM or PAA?
PAA has the lower trailing P/E at 20.8, versus 26.8 for DTM. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, DT Midstream or Plains All American Pipeline L.P.?
Plains All American Pipeline L.P. has the higher yield at 6.78%, compared with 2.77% for DT Midstream.
Are DT Midstream and Plains All American Pipeline L.P. in the same industry?
Yes. Both are classified in the Natural Gas Distribution industry within the Utilities sector.