US Capital Advisors Weighs in on DT Midstream, Inc.’s Q2 2023 Earnings (NYSE:DTM)

DT Midstream, Inc. (NYSE:DTM – Get Rating) – Analysts at US Capital Advisors dropped their Q2 2023 earnings estimates for DT Midstream in a research report issued on Friday, May 19th. US Capital Advisors analyst J. Carreker now anticipates that the company will post earnings per share of $0.84 for the quarter, down from their previous estimate of $0.92. The consensus estimate for DT Midstream’s current full-year earnings is $3.51 per share. US Capital Advisors also issued estimates for DT Midstream’s Q3 2023 earnings at $0.85 EPS, Q4 2023 earnings at $0.87 EPS, FY2023 earnings at $3.40 EPS, Q1 2024 earnings at $0.94 EPS, Q2 2024 earnings at $0.89 EPS, Q3 2024 earnings at $0.89 EPS, Q4 2024 earnings at $0.91 EPS, FY2024 earnings at $3.64 EPS and FY2025 earnings at $3.86 EPS.

DT Midstream (NYSE:DTM – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.08). DT Midstream had a net margin of 40.00% and a return on equity of 8.21%. The business had revenue of $220.00 million during the quarter, compared to analyst estimates of $238.44 million. During the same quarter last year, the firm posted $0.84 EPS.

Several other analysts have also weighed in on the stock. TheStreet lowered shares of DT Midstream from a “c” rating to a “d” rating in a research note on Wednesday, February 22nd. Morgan Stanley reduced their price target on shares of DT Midstream from $64.00 to $60.00 in a report on Tuesday, April 25th. Wells Fargo & Company reduced their price target on shares of DT Midstream from $62.00 to $55.00 in a report on Monday, February 20th. Raymond James initiated coverage on shares of DT Midstream in a report on Friday, April 21st. They issued an “outperform” rating for the company. Finally, Mizuho cut their price target on shares of DT Midstream from $59.00 to $58.00 in a report on Monday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $57.17.

DT Midstream Stock Performance

Shares of NYSE DTM opened at $47.08 on Monday. The company has a market cap of $4.56 billion, a PE ratio of 12.36 and a beta of 0.76. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.36 and a quick ratio of 0.36. DT Midstream has a 12 month low of $45.10 and a 12 month high of $61.12. The company has a 50-day simple moving average of $48.00 and a 200-day simple moving average of $52.72.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC raised its stake in shares of DT Midstream by 1.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 11,740 shares of the company’s stock valued at $649,000 after buying an additional 189 shares during the period. Signaturefd LLC lifted its stake in shares of DT Midstream by 23.4% in the 4th quarter. Signaturefd LLC now owns 1,029 shares of the company’s stock valued at $57,000 after acquiring an additional 195 shares during the last quarter. Princeton Global Asset Management LLC raised its position in DT Midstream by 7.3% during the 3rd quarter. Princeton Global Asset Management LLC now owns 2,923 shares of the company’s stock valued at $152,000 after purchasing an additional 200 shares during the last quarter. Louisiana State Employees Retirement System raised its position in DT Midstream by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 25,900 shares of the company’s stock valued at $1,431,000 after purchasing an additional 200 shares during the last quarter. Finally, Strategic Investment Advisors MI grew its stake in shares of DT Midstream by 3.9% in the 1st quarter. Strategic Investment Advisors MI now owns 5,714 shares of the company’s stock worth $282,000 after buying an additional 214 shares during the last quarter. Institutional investors own 78.28% of the company’s stock.

Insider Activity

In related news, CEO David Slater bought 1,500 shares of DT Midstream stock in a transaction on Monday, May 8th. The shares were purchased at an average price of $46.57 per share, for a total transaction of $69,855.00. Following the completion of the acquisition, the chief executive officer now owns 33,273 shares in the company, valued at $1,549,523.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Robert C. Skaggs, Jr. bought 2,000 shares of the stock in a transaction on Thursday, May 11th. The stock was acquired at an average price of $46.70 per share, with a total value of $93,400.00. Following the acquisition, the chairman now directly owns 19,539 shares in the company, valued at $912,471.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Slater bought 1,500 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were acquired at an average price of $46.57 per share, for a total transaction of $69,855.00. Following the transaction, the chief executive officer now owns 33,273 shares in the company, valued at $1,549,523.61. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Monday, June 19th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 5.86%. DT Midstream’s dividend payout ratio (DPR) is presently 72.44%.

DT Midstream Company Profile

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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.