DT Midstream, Inc. (NYSE:DTM) Receives $63.71 Average Target Price from Analysts

Shares of DT Midstream, Inc. (NYSE:DTM) have been assigned a consensus recommendation of “Hold” from the ten analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $63.71.

Several equities analysts recently issued reports on DTM shares. Wells Fargo & Company upgraded shares of DT Midstream from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $62.00 to $77.00 in a report on Tuesday, June 4th. US Capital Advisors lowered shares of DT Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Stifel Nicolaus boosted their target price on shares of DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Barclays boosted their target price on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Finally, Mizuho lifted their price target on shares of DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, April 29th.

Insider Transactions at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell bought 400 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $62.80 per share, with a total value of $25,120.00. Following the completion of the transaction, the chief financial officer now directly owns 44,285 shares in the company, valued at approximately $2,781,098. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. purchased a new position in DT Midstream in the fourth quarter valued at about $25,000. HHM Wealth Advisors LLC bought a new stake in shares of DT Midstream during the 4th quarter valued at about $25,000. Mather Group LLC. bought a new stake in DT Midstream during the first quarter worth about $29,000. ICA Group Wealth Management LLC purchased a new position in DT Midstream in the fourth quarter worth about $32,000. Finally, Burkett Financial Services LLC purchased a new position in shares of DT Midstream during the fourth quarter valued at approximately $42,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $70.33 on Monday. DT Midstream has a fifty-two week low of $47.28 and a fifty-two week high of $71.31. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $6.83 billion, a P/E ratio of 17.15 and a beta of 0.73. The company’s 50 day moving average price is $66.26 and its two-hundred day moving average price is $59.89.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The company had revenue of $240.00 million for the quarter, compared to analyst estimates of $242.62 million. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. During the same quarter in the previous year, the business earned $0.84 earnings per share. On average, equities analysts forecast that DT Midstream will post 3.94 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Monday, June 17th. DT Midstream’s payout ratio is presently 71.71%.

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.