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

DT Midstream, Inc. (NYSE:DTM) has been given an average recommendation of “Hold” by the twelve ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $144.10.

Several research firms have recently issued reports on DTM. Jefferies Financial Group set a $148.00 price objective on shares of DT Midstream and gave the company a “buy” rating in a research report on Friday, February 20th. Wells Fargo & Company raised their target price on shares of DT Midstream from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, January 21st. Mizuho boosted their price target on shares of DT Midstream from $108.00 to $129.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Finally, Barclays increased their price objective on shares of DT Midstream from $119.00 to $141.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th.

DT Midstream Stock Performance

NYSE:DTM opened at $134.08 on Friday. The stock has a 50-day moving average price of $134.01 and a 200 day moving average price of $121.87. The stock has a market capitalization of $13.68 billion, a P/E ratio of 31.11, a P/E/G ratio of 2.77 and a beta of 0.75. DT Midstream has a 12-month low of $83.30 and a 12-month high of $143.67. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.68.

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 return on equity of 9.13% and a net margin of 35.48%.The business had revenue of $317.00 million during the quarter, compared to analysts’ expectations of $320.07 million. During the same period in the prior year, the firm posted $0.94 earnings per share. Equities research analysts forecast that DT Midstream will post 3.8 EPS for the current fiscal year.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Monday, March 16th. This is a boost from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 dividend on an annualized basis and a yield of 2.6%. DT Midstream’s dividend payout ratio is currently 81.67%.

Insiders Place Their Bets

In other news, CFO Jeffrey A. Jewell purchased 185 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was acquired at an average price of $136.33 per share, for a total transaction of $25,221.05. Following the acquisition, 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 hyperlink. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of DT Midstream

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada increased its position in DT Midstream by 21.6% in the first quarter. Royal Bank of Canada now owns 90,286 shares of the company’s stock worth $8,711,000 after purchasing an additional 16,043 shares during the last quarter. NewEdge Advisors LLC lifted its position in DT Midstream by 1.6% during the first quarter. NewEdge Advisors LLC now owns 13,631 shares of the company’s stock valued at $1,315,000 after purchasing an additional 218 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in DT Midstream by 13.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,241 shares of the company’s stock valued at $26,652,000 after purchasing an additional 31,894 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of DT Midstream by 39.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock worth $42,000 after buying an additional 123 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of DT Midstream by 34.3% in the 2nd quarter. Prudential Financial Inc. now owns 13,283 shares of the company’s stock worth $1,460,000 after buying an additional 3,391 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Company Profile

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.