DT Midstream, Inc. to Post FY2024 Earnings of $3.80 Per Share, US Capital Advisors Forecasts (NYSE:DTM)

DT Midstream, Inc. (NYSE:DTM) – US Capital Advisors decreased their FY2024 earnings estimates for DT Midstream in a research note issued to investors on Monday, April 29th. US Capital Advisors analyst J. Carreker now anticipates that the company will earn $3.80 per share for the year, down from their previous forecast of $3.81. US Capital Advisors has a “Hold” rating on the stock. The consensus estimate for DT Midstream’s current full-year earnings is $3.95 per share.

DT Midstream (NYSE:DTM) last announced 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. DT Midstream had a return on equity of 9.45% and a net margin of 42.46%. The company had revenue of $240.00 million for the quarter, compared to analyst estimates of $242.62 million. During the same quarter last year, the company earned $0.84 earnings per share.

Several other research analysts have also issued reports on the stock. Wolfe Research upgraded shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Barclays raised their price target on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Stifel Nicolaus boosted their price objective on shares of DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Mizuho boosted their price target on shares of DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, DT Midstream currently has an average rating of “Hold” and an average target price of $61.50.

DT Midstream Price Performance

Shares of NYSE DTM opened at $61.64 on Thursday. The stock’s 50 day moving average price is $60.35 and its 200-day moving average price is $56.70. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.72. DT Midstream has a twelve month low of $45.10 and a twelve month high of $64.69. The company has a market capitalization of $5.99 billion, a PE ratio of 15.03 and a beta of 0.71.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Monday, June 17th. DT Midstream’s dividend payout ratio is presently 71.71%.

Insider Activity at DT Midstream

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction dated Monday, February 26th. The stock was acquired at an average price of $56.87 per share, for a total transaction of $56,870.00. Following the transaction, the director now owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP grew its position in shares of DT Midstream by 284.6% during the fourth 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 in the last quarter. Norges Bank acquired a new stake in DT Midstream during the 4th quarter worth about $61,638,000. HITE Hedge Asset Management LLC acquired a new position in shares of DT Midstream in the 4th quarter valued at about $47,462,000. Deutsche Bank AG increased its holdings in shares of DT Midstream by 1,176.7% in the 3rd quarter. Deutsche Bank AG now owns 867,145 shares of the company’s stock valued at $45,889,000 after purchasing an additional 799,224 shares during the period. Finally, Dimensional Fund Advisors LP increased 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 worth $186,407,000 after buying an additional 266,433 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

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.