DT Midstream (DTM) vs Western Midstream Partners (WES)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Western Midstream Partners (WES) has outperformed DT Midstream (DTM) over the past year, gaining 19.6% versus a gain of 7.6%. Over five years, DTM leads with a +145.8% price change compared with +97.5% for WES. Western Midstream Partners is the larger company by market cap ($18.82 billion vs $12.52 billion), about 1.5 times the size, while DT Midstream is growing revenue faster (+26.7% vs +6.6%).
On valuation, Western Midstream Partners trades at a lower forward P/E (11.9x vs 25.3x for DT Midstream). Western Midstream Partners offers the higher dividend yield (8.08% vs 2.77%). DT Midstream converts more of its revenue into profit, with a net margin of 35.5% versus 30.7%.
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 | WES |
|---|---|---|
| Share price | $122.69 | $45.55 |
| Market cap | $12.52B | $18.82B |
| 1-day change | -1.53% | -1.36% |
| YTD return | +2.52% | +16.91% |
| 1-year return | +7.61% | +19.64% |
| 5-year return | +145.77% | +97.52% |
| P/E ratio (TTM) | 26.85 | 14.41 |
| Forward P/E | 25.29 | 11.89 |
| EPS (TTM) | $4.57 | $3.16 |
| Dividend yield | 2.77% | 8.08% |
| Annual dividend | $3.40 | $3.68 |
| Revenue (latest FY) | $1.24B | $3.84B |
| Revenue growth (YoY) | +26.71% | +6.61% |
| Net income (latest FY) | $441.00M | $1.18B |
| Gross margin | — | 94.61% |
| Operating margin | 49.40% | 41.67% |
| Net margin | 35.48% | 30.73% |
| 52-week high | $152.88 | $50.07 |
| 52-week low | $104.99 | $36.90 |
| Distance from 52-week high | -19.75% | -9.03% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +24.38% | +9.09% |
| Average volume | 917.64K | 820.75K |
| Shares outstanding | 102.02M | 413.17M |
| Employees | 588 | 1,704 |
| Sector | Utilities | Energy |
| Industry | Natural Gas Distribution | Oil & Gas Midstream |
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
- WES has outperformed DTM by 12.0 percentage points over the past year.
- DT Midstream trades at a higher earnings multiple (26.8x vs 14.4x trailing P/E).
- Western Midstream Partners offers a meaningfully higher dividend yield (8.08% vs 2.77%).
- DT Midstream grew revenue faster in its latest fiscal year (+26.71% vs +6.61%).
- The two companies sit in different sectors: DT Midstream in Utilities and Western Midstream Partners 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 Western Midstream Partners
WES stock →Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. The company is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing of produced water.
Energy · Oil & Gas Midstream · 1,704 employees
DTM vs WES FAQ
Which is bigger, DT Midstream or Western Midstream Partners?
Western Midstream Partners (WES) is larger, with a market capitalization of $18.82B compared with $12.52B for DT Midstream (DTM).
Which stock has performed better over the past year, DTM or WES?
WES returned +19.64% 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 WES?
WES has the lower trailing P/E at 14.4, 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 Western Midstream Partners?
Western Midstream Partners has the higher yield at 8.08%, compared with 2.77% for DT Midstream.
Are DT Midstream and Western Midstream Partners in the same industry?
No. DT Midstream is in the Utilities sector, while Western Midstream Partners is in Energy.