Analysts Set DT Midstream, Inc. (NYSE:DTM) Price Target at $58.57

Shares of DT Midstream, Inc. (NYSE:DTM) have been given an average recommendation of “Hold” by the eight research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $58.57.

A number of analysts have recently weighed in on DTM shares. Wolfe Research raised DT Midstream from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, February 20th. Barclays increased their price target on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, Mizuho restated a “neutral” rating and issued a $57.00 price objective (down previously from $58.00) on shares of DT Midstream in a research report on Friday, January 5th.

Insider Transactions at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average price of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the transaction, the director now directly owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On DT Midstream

Several hedge funds have recently made changes to their positions in the company. HHM Wealth Advisors LLC bought a new position in DT Midstream in the fourth quarter worth $25,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of DT Midstream in the 4th quarter worth about $25,000. Mather Group LLC. bought a new position in shares of DT Midstream in the 1st quarter worth about $29,000. Geneos Wealth Management Inc. bought a new position in shares of DT Midstream in the 1st quarter worth about $30,000. Finally, ICA Group Wealth Management LLC purchased a new position in DT Midstream during the 4th quarter valued at about $32,000. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Performance

NYSE DTM opened at $62.03 on Wednesday. The company has a 50-day simple moving average of $58.28 and a two-hundred day simple moving average of $56.01. DT Midstream has a 12-month low of $45.10 and a 12-month high of $64.19. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 15.70 and a beta of 0.73. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.72.

DT Midstream (NYSE:DTM) last released its earnings results on Friday, February 16th. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.32. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. The company had revenue of $244.00 million during the quarter, compared to analyst estimates of $235.19 million. During the same quarter in the previous year, the company posted $0.93 EPS. On average, equities analysts forecast that DT Midstream will post 3.85 EPS for the current year.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were issued a $0.735 dividend. The ex-dividend date was Friday, March 15th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.69. This represents a $2.94 annualized dividend and a yield of 4.74%. DT Midstream’s dividend payout ratio is 74.43%.

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.