DT Midstream, Inc. (NYSE:DTM) Receives Average Recommendation of “Hold” from Analysts

Shares of DT Midstream, Inc. (NYSE:DTM) have been assigned a consensus recommendation of “Hold” from the ten analysts that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $63.71.

A number of research analysts have recently weighed in on DTM shares. Barclays raised their price objective on shares of DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Mizuho upped their price objective on DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. Wells Fargo & Company raised shares of DT Midstream from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $62.00 to $77.00 in a research note on Tuesday, June 4th. Stifel Nicolaus lifted their price target on shares of DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, US Capital Advisors downgraded DT Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th.

Insider Activity at DT Midstream

In related news, CFO Jeffrey A. Jewell acquired 400 shares of DT Midstream stock in a transaction dated Friday, May 3rd. The stock was acquired at an average cost of $62.80 per share, with a total value of $25,120.00. Following the purchase, the chief financial officer now directly owns 44,285 shares in the company, valued at approximately $2,781,098. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On DT Midstream

Several institutional investors and hedge funds have recently modified their holdings of DTM. EverSource Wealth Advisors LLC increased its holdings in DT Midstream by 282.9% in the first quarter. EverSource Wealth Advisors LLC now owns 965 shares of the company’s stock worth $60,000 after buying an additional 713 shares during the last quarter. Cetera Advisors LLC bought a new position in shares of DT Midstream during the 1st quarter valued at $216,000. Cetera Investment Advisers lifted its stake 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 valued at $3,306,000 after purchasing an additional 50,018 shares during the last quarter. Invst LLC acquired a new position in DT Midstream during the first quarter worth $782,000. Finally, Bayesian Capital Management LP raised its holdings in DT Midstream by 10.3% during the first quarter. Bayesian Capital Management LP now owns 6,400 shares of the company’s stock valued at $391,000 after buying an additional 600 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Up 0.1 %

DTM stock opened at $69.55 on Monday. DT Midstream has a 52 week low of $46.36 and a 52 week high of $70.04. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71. The company has a market cap of $6.75 billion, a P/E ratio of 16.96 and a beta of 0.73. The company’s 50-day moving average price is $65.77 and its 200 day moving average price is $59.61.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. DT Midstream had a return on equity of 9.41% and a net margin of 42.46%. The firm had revenue of $240.00 million during the quarter, compared to analysts’ expectations of $242.62 million. During the same period in the previous year, the firm posted $0.84 earnings per share. On average, research analysts expect that DT Midstream will post 3.94 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.23%. DT Midstream’s dividend payout ratio (DPR) is presently 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.