DT Midstream, Inc. (NYSE:DTM) Receives $109.27 Average PT from Analysts

DT Midstream, Inc. (NYSE:DTM) has been given an average rating of “Hold” by the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $109.27.

A number of research firms have recently weighed in on DTM. Wells Fargo & Company cut their price target on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. US Capital Advisors downgraded shares of DT Midstream from a “moderate buy” rating to a “hold” rating in a report on Monday, April 28th. Bank of America assumed coverage on shares of DT Midstream in a report on Monday, March 24th. They issued a “buy” rating and a $110.00 target price on the stock. Williams Trading set a $110.00 target price on shares of DT Midstream in a report on Monday, March 24th. Finally, Morgan Stanley set a $115.00 target price on shares of DT Midstream and gave the stock an “underweight” rating in a report on Tuesday, June 3rd.

Hedge Funds Weigh In On DT Midstream

Several large investors have recently modified their holdings of the stock. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of DT Midstream in the first quarter valued at about $25,000. Alpine Bank Wealth Management acquired a new position in shares of DT Midstream in the first quarter valued at about $26,000. Twin Tree Management LP acquired a new position in shares of DT Midstream in the first quarter valued at about $29,000. Bessemer Group Inc. grew its stake in shares of DT Midstream by 61.6% in the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock valued at $30,000 after acquiring an additional 117 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of DT Midstream by 39.3% in the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock valued at $42,000 after acquiring an additional 123 shares in the last quarter. 81.53% of the stock is owned by institutional investors.

DT Midstream Stock Down 0.0%

DT Midstream stock opened at $106.23 on Monday. The company has a market capitalization of $10.79 billion, a P/E ratio of 25.85 and a beta of 0.78. The firm’s fifty day simple moving average is $100.71 and its 200-day simple moving average is $100.31. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream has a 1-year low of $66.98 and a 1-year high of $114.50.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). The business had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter in the prior year, the business posted $0.99 EPS. Sell-side analysts forecast that DT Midstream will post 3.8 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.09%. The ex-dividend date is Monday, June 16th. DT Midstream’s dividend payout ratio (DPR) is currently 89.37%.

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.