DT Midstream, Inc. (NYSE:DTM – Get Rating) – US Capital Advisors decreased their Q1 2023 EPS estimates for shares of DT Midstream in a report issued on Monday, July 25th. US Capital Advisors analyst J. Carreker now anticipates that the company will earn $0.93 per share for the quarter, down from their previous forecast of $0.95. The consensus estimate for DT Midstream’s current full-year earnings is $3.62 per share.
Other equities analysts have also recently issued reports about the stock. Mizuho boosted their target price on shares of DT Midstream from $55.00 to $57.00 in a research note on Tuesday, May 10th. Barclays upgraded shares of DT Midstream from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $58.00 to $59.00 in a research note on Wednesday, July 20th. Finally, Morgan Stanley upped their price objective on shares of DT Midstream from $54.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.33.
DT Midstream Stock Performance
DT Midstream (NYSE:DTM – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.04). DT Midstream had a net margin of 36.13% and a return on equity of 8.28%. The firm had revenue of $215.00 million during the quarter, compared to analyst estimates of $224.37 million.
Institutional Investors Weigh In On DT Midstream
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of DT Midstream by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,763,732 shares of the company’s stock valued at $529,780,000 after buying an additional 99,072 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of DT Midstream by 82.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,482,700 shares of the company’s stock valued at $188,971,000 after buying an additional 1,576,575 shares during the last quarter. State Street Corp raised its position in shares of DT Midstream by 6.6% in the first quarter. State Street Corp now owns 2,847,158 shares of the company’s stock valued at $156,254,000 after buying an additional 175,118 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of DT Midstream by 11.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,552,030 shares of the company’s stock valued at $138,473,000 after buying an additional 259,907 shares during the last quarter. Finally, Energy Income Partners LLC grew its holdings in shares of DT Midstream by 317.6% in the fourth quarter. Energy Income Partners LLC now owns 1,980,913 shares of the company’s stock valued at $95,044,000 after purchasing an additional 1,506,502 shares during the period. 76.66% of the stock is currently owned by institutional investors and hedge funds.
DT Midstream Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Monday, June 20th were given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date of this dividend was Thursday, June 16th. DT Midstream’s dividend payout ratio is presently 80.00%.
About DT Midstream
DT Midstream, Inc provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. It develops, owns, and operates an integrated portfolio of interstate pipelines, intrastate pipelines, storage systems, lateral pipelines, gathering systems, related treatment plants, and compression and surface facilities.
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