DT Midstream (NYSE:DTM) Rating Reiterated by Mizuho

Mizuho reiterated their buy rating on shares of DT Midstream (NYSE:DTM) in a research note released on Friday morning, Benzinga reports. Mizuho currently has a $58.00 price objective on the stock.

Several other equities analysts have also recently issued reports on DTM. TheStreet raised DT Midstream from a d rating to a b- rating in a report on Wednesday, September 6th. Morgan Stanley reduced their price objective on DT Midstream from $60.00 to $58.00 and set an underweight rating for the company in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $56.83.

DT Midstream Stock Up 0.7 %

DTM opened at $53.28 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.58 and a quick ratio of 0.58. The business has a 50 day simple moving average of $52.21 and a 200-day simple moving average of $49.63. The stock has a market capitalization of $5.16 billion, a P/E ratio of 13.98 and a beta of 0.82. DT Midstream has a 12 month low of $45.10 and a 12 month high of $61.12.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.88 by $0.05. The business had revenue of $224.00 million during the quarter, compared to analysts’ expectations of $228.87 million. DT Midstream had a return on equity of 8.44% and a net margin of 40.13%. During the same period last year, the firm earned $0.80 EPS. On average, equities analysts anticipate that DT Midstream will post 3.58 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date of this dividend is Friday, September 15th. DT Midstream’s dividend payout ratio is currently 72.44%.

Institutional Investors Weigh In On DT Midstream

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in DT Midstream by 13.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 43,524 shares of the company’s stock valued at $2,405,000 after acquiring an additional 5,171 shares during the period. State of New Jersey Common Pension Fund D grew its position in DT Midstream by 12.3% during the first quarter. State of New Jersey Common Pension Fund D now owns 46,098 shares of the company’s stock valued at $2,276,000 after acquiring an additional 5,033 shares during the period. Maryland State Retirement & Pension System grew its position in DT Midstream by 246.3% during the first quarter. Maryland State Retirement & Pension System now owns 106,454 shares of the company’s stock valued at $5,256,000 after acquiring an additional 75,710 shares during the period. Amalgamated Bank grew its position in DT Midstream by 13.1% during the fourth quarter. Amalgamated Bank now owns 78,439 shares of the company’s stock valued at $4,335,000 after acquiring an additional 9,093 shares during the period. Finally, Delta Asset Management LLC TN purchased a new stake in DT Midstream during the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

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.