Brokerages Set DT Midstream, Inc. (NYSE:DTM) PT at $58.57

Shares of DT Midstream, Inc. (NYSE:DTM) have received an average recommendation of “Hold” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $58.57.

Several brokerages have commented on DTM. Mizuho reiterated a “neutral” rating and set a $57.00 price target (down previously from $58.00) on shares of DT Midstream in a report on Friday, January 5th. Wolfe Research upgraded DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Finally, Barclays increased their price target on DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, April 5th.

DT Midstream Price Performance

Shares of DTM opened at $62.63 on Wednesday. The firm has a market cap of $6.08 billion, a PE ratio of 15.86 and a beta of 0.73. The firm’s 50 day moving average price is $57.89 and its 200 day moving average price is $55.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63. DT Midstream has a twelve month low of $45.10 and a twelve month high of $64.19.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Friday, February 16th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.32. The firm had revenue of $244.00 million for the quarter, compared to analyst estimates of $235.19 million. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. During the same quarter last year, the firm earned $0.93 earnings per share. As a group, research analysts expect that DT Midstream will post 3.85 EPS for the current fiscal year.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, March 18th will be paid a $0.735 dividend. This is an increase from DT Midstream’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, March 15th. This represents a $2.94 annualized dividend and a dividend yield of 4.69%. DT Midstream’s dividend payout ratio (DPR) is presently 74.43%.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average cost of $56.87 per share, with a total value of $56,870.00. Following the completion of the transaction, the director now directly owns 37,289 shares in the company, valued at $2,120,625.43. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DTM. JPMorgan Chase & Co. lifted its position in DT Midstream by 400.4% in the first quarter. JPMorgan Chase & Co. now owns 1,785,503 shares of the company’s stock worth $88,150,000 after purchasing an additional 1,428,679 shares during the period. First Trust Advisors LP lifted its holdings in shares of DT Midstream by 284.6% during the fourth quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock valued at $83,537,000 after acquiring an additional 1,128,056 shares during the period. Norges Bank bought a new position in shares of DT Midstream during the fourth quarter valued at $61,638,000. Alliancebernstein L.P. lifted its holdings in shares of DT Midstream by 681.9% during the third quarter. Alliancebernstein L.P. now owns 1,157,862 shares of the company’s stock valued at $60,081,000 after acquiring an additional 1,009,786 shares during the period. Finally, HITE Hedge Asset Management LLC bought a new position in shares of DT Midstream during the fourth quarter valued at $47,462,000. 81.53% of the stock is owned by institutional investors.

DT Midstream Company Profile

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.