DT Midstream, Inc. (NYSE:DTM) Receives Average Rating of “Hold” from Brokerages

DT Midstream, Inc. (NYSE:DTM) has received an average rating of “Hold” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $63.71.

A number of analysts recently issued reports on DTM shares. Barclays raised their price objective on shares of DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Wells Fargo & Company upgraded shares of DT Midstream from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $62.00 to $77.00 in a research report on Tuesday, June 4th. Stifel Nicolaus increased their target price on shares of DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. US Capital Advisors lowered shares of DT Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Finally, Mizuho increased their target price on shares of DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th.

DT Midstream Stock Performance

Shares of DTM stock opened at $71.02 on Monday. The firm has a 50-day moving average of $66.58 and a 200-day moving average of $60.08. The company has a market cap of $6.90 billion, a P/E ratio of 17.32 and a beta of 0.73. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.71 and a quick ratio of 0.71. DT Midstream has a one year low of $48.41 and a one year high of $71.85.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. The business had revenue of $240.00 million during the quarter, compared to the consensus estimate of $242.62 million. During the same quarter last year, the company posted $0.84 earnings per share. Equities research analysts forecast that DT Midstream will post 3.94 EPS for the current fiscal year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.94 annualized dividend and a yield of 4.14%. DT Midstream’s dividend payout ratio is currently 71.71%.

Insiders Place Their Bets

In related news, CFO Jeffrey A. Jewell purchased 400 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $62.80 per share, with a total value of $25,120.00. Following the purchase, the chief financial officer now directly owns 44,285 shares in the company, valued at $2,781,098. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On DT Midstream

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its stake in DT Midstream by 282.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 965 shares of the company’s stock worth $60,000 after buying an additional 713 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of DT Midstream in the 1st quarter worth approximately $216,000. Cetera Investment Advisers lifted its holdings in shares of DT Midstream by 1,223.2% in the 1st quarter. Cetera Investment Advisers now owns 54,107 shares of the company’s stock worth $3,306,000 after acquiring an additional 50,018 shares during the last quarter. Invst LLC bought a new stake in shares of DT Midstream in the 1st quarter worth approximately $782,000. Finally, Bayesian Capital Management LP lifted its holdings in shares of DT Midstream by 10.3% in the 1st quarter. Bayesian Capital Management LP now owns 6,400 shares of the company’s stock worth $391,000 after acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Company Profile

DT Midstream, Inc, together with its subsidiaries, provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.