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

Shares of DT Midstream, Inc. (NYSE:DTM) have earned an average recommendation of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $77.38.

A number of brokerages have recently commented on DTM. Citigroup increased their price objective on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. increased their price objective on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Stifel Nicolaus increased their price objective on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their price objective on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley increased their price objective on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday.

Institutional Trading of DT Midstream

Several hedge funds have recently added to or reduced their stakes in DTM. Prevail Innovative Wealth Advisors LLC lifted its position in shares of DT Midstream by 37.9% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company’s stock worth $2,316,000 after acquiring an additional 10,418 shares during the period. Illinois Municipal Retirement Fund lifted its position in shares of DT Midstream by 137.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock worth $1,840,000 after acquiring an additional 17,437 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of DT Midstream in the 1st quarter worth approximately $1,085,000. Cetera Investment Advisers lifted its position in shares of DT Midstream by 1,223.2% in the 1st quarter. Cetera Investment Advisers now owns 54,107 shares of the company’s stock worth $3,306,000 after acquiring an additional 50,018 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in shares of DT Midstream by 15.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock worth $8,657,000 after acquiring an additional 16,171 shares during the period. Institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Performance

Shares of DTM stock opened at $87.39 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. DT Midstream has a fifty-two week low of $51.17 and a fifty-two week high of $88.21. The stock’s 50-day moving average is $80.02 and its two-hundred day moving average is $72.53. The firm has a market cap of $8.49 billion, a P/E ratio of 21.31 and a beta of 0.74.

DT Midstream (NYSE:DTM) last issued its earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.06. The company had revenue of $244.00 million for the quarter, compared to analyst estimates 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 firm posted $0.93 EPS. Analysts predict that DT Midstream will post 3.99 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 16th were paid a dividend of $0.735 per share. The ex-dividend date was Monday, September 16th. This represents a $2.94 annualized dividend and a yield of 3.36%. DT Midstream’s payout ratio is 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.