DT Midstream, Inc. (NYSE:DTM) Given Average Recommendation of “Hold” by Brokerages

Shares of DT Midstream, Inc. (NYSE:DTM) have been assigned an average rating of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $139.6364.

Several equities analysts have commented on DTM shares. Mizuho raised their target price on shares of DT Midstream from $108.00 to $129.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, January 21st. Barclays lifted their price objective on shares of DT Midstream from $119.00 to $141.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Citigroup boosted their price objective on shares of DT Midstream from $130.00 to $156.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Finally, Stifel Nicolaus set a $137.00 target price on DT Midstream and gave the stock a “hold” rating in a research note on Monday, February 23rd.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell acquired 185 shares of DT Midstream stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average cost of $136.33 per share, with a total value of $25,221.05. Following the completion of the purchase, the chief financial officer directly owned 89,583 shares of the company’s stock, valued at $12,212,850.39. This represents a 0.21% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. 59 North Capital Management LP bought a new position in shares of DT Midstream in the second quarter worth about $226,757,000. Norges Bank bought a new stake in shares of DT Midstream during the 2nd quarter valued at approximately $143,743,000. Merewether Investment Management LP increased its position in DT Midstream by 192.4% during the 3rd quarter. Merewether Investment Management LP now owns 1,000,600 shares of the company’s stock worth $113,128,000 after purchasing an additional 658,400 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in DT Midstream during the 3rd quarter worth approximately $43,347,000. Finally, Holocene Advisors LP lifted its stake in DT Midstream by 117.7% in the 3rd quarter. Holocene Advisors LP now owns 554,059 shares of the company’s stock valued at $62,642,000 after purchasing an additional 299,609 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Performance

DTM opened at $139.47 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. DT Midstream has a 52-week low of $83.30 and a 52-week high of $143.67. The firm has a market cap of $14.19 billion, a P/E ratio of 32.36, a price-to-earnings-growth ratio of 2.86 and a beta of 0.75. The business’s fifty day moving average is $128.13 and its 200-day moving average is $118.04.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Thursday, February 19th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. The company had revenue of $317.00 million during the quarter, compared to analyst estimates of $320.07 million. During the same period last year, the firm earned $0.94 EPS. Sell-side analysts expect that DT Midstream will post 3.8 EPS for the current fiscal year.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be issued a dividend of $0.88 per share. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. DT Midstream’s payout ratio is presently 76.10%.

About DT Midstream

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.