DT Midstream, Inc. (NYSE:DTM) Receives $70.75 Consensus PT from Analysts

DT Midstream, Inc. (NYSE:DTM) has been assigned an average rating of “Hold” from the ten research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four 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 $70.75.

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Citigroup raised their price objective on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Stifel Nicolaus upped their target price on DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on DT Midstream from $75.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Barclays lifted their price objective on DT Midstream from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th.

Institutional Investors Weigh In On DT Midstream

A number of large investors have recently made changes to their positions in DTM. Sanctuary Advisors LLC purchased a new stake in shares of DT Midstream in the 2nd quarter valued at $291,000. Cetera Investment Advisers raised its holdings in shares of DT Midstream by 2.3% during the second quarter. Cetera Investment Advisers now owns 55,349 shares of the company’s stock valued at $3,932,000 after acquiring an additional 1,242 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of DT Midstream by 6.0% in the second quarter. NewEdge Advisors LLC now owns 12,878 shares of the company’s stock valued at $915,000 after acquiring an additional 733 shares in the last quarter. Creative Planning boosted its stake in shares of DT Midstream by 2.4% in the second quarter. Creative Planning now owns 38,655 shares of the company’s stock worth $2,746,000 after acquiring an additional 907 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of DT Midstream in the second quarter worth approximately $694,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Price Performance

Shares of DT Midstream stock opened at $74.49 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. DT Midstream has a 12 month low of $50.88 and a 12 month high of $78.83. The stock has a 50 day moving average of $74.05 and a 200 day moving average of $67.44. The firm has a market cap of $7.23 billion, a PE ratio of 18.17 and a beta of 0.74.

DT Midstream (NYSE:DTM) last posted its earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The firm had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same period in the prior year, the company earned $0.93 EPS. On average, research analysts expect that DT Midstream will post 3.96 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.735 per share. The ex-dividend date is Monday, September 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.95%. DT Midstream’s payout ratio is 71.71%.

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.