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

Shares of DT Midstream, Inc. (NYSE:DTM) have been assigned an average recommendation of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $95.88.

Several analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 19th. Morgan Stanley boosted their price target on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Wells Fargo & Company boosted their price target on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised shares of DT Midstream from a “hold” rating to a “buy” rating and boosted their price target for the company from $89.00 to $106.00 in a research report on Thursday, December 19th. Finally, Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and boosted their price target for the company from $90.00 to $115.00 in a research report on Thursday, November 21st.

Hedge Funds Weigh In On DT Midstream

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in DT Midstream by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock worth $312,070,000 after buying an additional 490,613 shares in the last quarter. State Street Corp boosted its stake in shares of DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after purchasing an additional 202,447 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of DT Midstream by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock valued at $162,567,000 after purchasing an additional 85,462 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of DT Midstream by 30.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock valued at $90,978,000 after purchasing an additional 267,269 shares in the last quarter. Finally, Brookfield Corp ON boosted its stake in shares of DT Midstream by 171.3% in the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after purchasing an additional 655,695 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Performance

Shares of DTM stock opened at $112.35 on Friday. The firm has a market cap of $10.92 billion, a price-to-earnings ratio of 27.34 and a beta of 0.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. DT Midstream has a 52 week low of $51.17 and a 52 week high of $112.73. The firm’s 50-day simple moving average is $102.20 and its two-hundred day simple moving average is $86.54.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. During the same period last year, the firm earned $0.94 EPS. As a group, equities analysts forecast that DT Midstream will post 3.84 earnings per share for the current year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a $0.735 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 2.62%. DT Midstream’s dividend payout ratio is presently 71.53%.

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.