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

Shares of DT Midstream, Inc. (NYSE:DTM) have been assigned a consensus rating of “Hold” from the ten research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $93.38.

DTM has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their target price on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Stifel Nicolaus raised DT Midstream from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $89.00 to $106.00 in a research note on Thursday, December 19th. Morgan Stanley raised their target price on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and upped their price target for the stock from $90.00 to $115.00 in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 4th.

Institutional Trading of DT Midstream

Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC raised its position in shares of DT Midstream by 1,476.9% in the 3rd quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after acquiring an additional 754,839 shares during the period. Brookfield Corp ON boosted its position in shares of DT Midstream by 171.3% during the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after purchasing an additional 655,695 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of DT Midstream in the 3rd quarter valued at $39,166,000. Dimensional Fund Advisors LP increased its position in shares of DT Midstream by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock valued at $312,070,000 after buying an additional 490,613 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in DT Midstream by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after buying an additional 267,269 shares during the period. Institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Performance

DT Midstream stock opened at $105.84 on Friday. The firm has a market capitalization of $10.28 billion, a P/E ratio of 25.75 and a beta of 0.79. The stock has a fifty day moving average price of $101.02 and a two-hundred day moving average price of $85.43. DT Midstream has a 52-week low of $51.17 and a 52-week high of $109.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

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

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

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.