DT Midstream Q3 EPS Forecast Lifted by US Capital Advisors

DT Midstream, Inc. (NYSE:DTM) – Stock analysts at US Capital Advisors increased their Q3 2024 earnings per share estimates for shares of DT Midstream in a research note issued on Monday, October 28th. US Capital Advisors analyst J. Carreker now forecasts that the company will earn $0.99 per share for the quarter, up from their previous estimate of $0.95. The consensus estimate for DT Midstream’s current full-year earnings is $3.99 per share. US Capital Advisors also issued estimates for DT Midstream’s Q4 2024 earnings at $1.08 EPS and FY2024 earnings at $4.03 EPS.

DT Midstream (NYSE:DTM) last announced its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The company had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $242.64 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same quarter in the prior year, the firm posted $0.94 earnings per share.

A number of other equities research analysts have also weighed in on the stock. Stifel Nicolaus lowered shares of DT Midstream from a “buy” rating to a “hold” rating and boosted their target price for the company from $78.00 to $89.00 in a research note on Wednesday. Barclays upped their price objective on DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Wells Fargo & Company upped their price objective on DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley upped their price objective on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Finally, Citigroup upped their price objective on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $78.75.

DT Midstream Price Performance

Shares of DTM opened at $90.94 on Tuesday. The firm has a market cap of $8.83 billion, a PE ratio of 22.13 and a beta of 0.74. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $80.83 and a two-hundred day simple moving average of $73.07. DT Midstream has a 1-year low of $51.17 and a 1-year high of $91.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of DT Midstream by 76.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company’s stock valued at $46,000 after acquiring an additional 330 shares during the last quarter. State of Michigan Retirement System increased its holdings in DT Midstream by 2.6% during the first quarter. State of Michigan Retirement System now owns 23,855 shares of the company’s stock valued at $1,458,000 after buying an additional 600 shares during the period. Maryland State Retirement & Pension System boosted its stake in DT Midstream by 1.5% in the first quarter. Maryland State Retirement & Pension System now owns 90,197 shares of the company’s stock valued at $5,592,000 after acquiring an additional 1,369 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in DT Midstream by 8.9% in the first quarter. Sequoia Financial Advisors LLC now owns 6,596 shares of the company’s stock valued at $403,000 after acquiring an additional 537 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in DT Midstream by 14.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 809,126 shares of the company’s stock valued at $49,438,000 after acquiring an additional 99,755 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

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.