DT Midstream, Inc. (NYSE:DTM) Receives $63.71 Average PT from Brokerages

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

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

Insider Buying and Selling

In related news, CFO Jeffrey A. Jewell purchased 400 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of $62.80 per share, with a total value of $25,120.00. Following the completion of the acquisition, the chief financial officer now directly owns 44,285 shares in the company, valued at $2,781,098. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On DT Midstream

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in DT Midstream by 8.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock valued at $186,407,000 after acquiring an additional 266,433 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in DT Midstream by 1.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company’s stock valued at $144,398,000 after acquiring an additional 37,463 shares during the period. JPMorgan Chase & Co. lifted its holdings in DT Midstream by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 1,931,337 shares of the company’s stock valued at $102,960,000 after acquiring an additional 39,059 shares during the period. First Trust Advisors LP lifted its holdings in DT Midstream by 284.6% in the fourth quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock valued at $83,537,000 after acquiring an additional 1,128,056 shares during the period. Finally, Norges Bank purchased a new position in shares of DT Midstream in the fourth quarter valued at $61,638,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Up 0.3 %

DTM stock opened at $71.03 on Monday. The company’s 50 day moving average price is $66.58 and its 200 day moving average price is $60.15. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.71. DT Midstream has a fifty-two week low of $48.41 and a fifty-two week high of $71.85. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 17.32 and a beta of 0.73.

DT Midstream (NYSE:DTM) last released its earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $240.00 million for the quarter, compared to analyst estimates of $242.62 million. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. During the same period in the prior year, the firm earned $0.84 earnings per share. On average, equities research analysts anticipate that DT Midstream will post 3.94 EPS for the current fiscal year.

DT Midstream Announces Dividend

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

About DT Midstream

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.