Despite DT Midstream's lower growth expectations, its P/E ratio is similar to the market's, indicating investors may be overlooking limited growth. However, this could lead to disappointment if the P/E falls in line with the growth outlook. Weak earnings outlook and slower growth could risk share price decline.

Increased capital deployment hasn't significantly improved DT Midstream's returns, implying the funds aren't allocated in high return investments. The steady shareholder returns and consistent ROCE hint at limited growth potential.