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

DT Midstream, Inc. (NYSE:DTM) has earned an average rating of “Hold” from the ten analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $70.75.

A number of brokerages have recently commented on DTM. Wells Fargo & Company upped their target price on shares of DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on DT Midstream from $75.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Citigroup lifted their target price on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Barclays upped their price target on DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, Stifel Nicolaus boosted their price objective on shares of DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st.

Institutional Trading of DT Midstream

Hedge funds have recently made changes to their positions in the stock. TD Asset Management Inc lifted its holdings in DT Midstream by 8.5% in the fourth quarter. TD Asset Management Inc now owns 35,600 shares of the company’s stock worth $1,951,000 after acquiring an additional 2,800 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of DT Midstream by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 43,036 shares of the company’s stock worth $2,358,000 after purchasing an additional 420 shares during the last quarter. TFO Wealth Partners LLC boosted its position in DT Midstream by 49,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,976 shares of the company’s stock valued at $108,000 after purchasing an additional 1,972 shares during the period. First Trust Advisors LP grew its stake in DT Midstream by 284.6% during the 4th quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock worth $83,537,000 after buying an additional 1,128,056 shares during the last quarter. Finally, Azimuth Capital Investment Management LLC increased its position in DT Midstream by 3.4% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 6,289 shares of the company’s stock worth $345,000 after buying an additional 209 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Up 0.2 %

Shares of NYSE DTM opened at $78.85 on Wednesday. DT Midstream has a 1 year low of $50.88 and a 1 year high of $79.73. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 19.23 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. The business has a 50-day moving average of $75.80 and a two-hundred day moving average of $69.49.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The firm had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. During the same period in the previous year, the company earned $0.93 earnings per share. On average, analysts forecast that DT Midstream will post 3.96 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be paid a $0.735 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.94 annualized dividend and a dividend yield of 3.73%. DT Midstream’s dividend payout ratio (DPR) is presently 71.71%.

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.