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

DT Midstream, Inc. (NYSE:DTM) has received a consensus rating of “Hold” from the twelve research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $141.00.

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of DT Midstream from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. Morgan Stanley lifted their target price on DT Midstream from $137.00 to $139.00 and gave the stock an “underweight” rating in a report on Tuesday, February 10th. Mizuho boosted their price target on DT Midstream from $108.00 to $129.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. raised their target price on DT Midstream from $126.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Finally, Barclays upped their price target on DT Midstream from $119.00 to $141.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell acquired 185 shares of DT Midstream stock in a transaction dated Wednesday, February 25th. The stock was purchased at an average cost of $136.33 per share, for a total transaction of $25,221.05. Following the completion of the acquisition, the chief financial officer directly owned 89,583 shares of the company’s stock, valued at $12,212,850.39. This represents a 0.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On DT Midstream

Several large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new stake in DT Midstream during the 4th quarter worth approximately $28,000. Richardson Financial Services Inc. lifted its holdings in shares of DT Midstream by 62.7% in the fourth quarter. Richardson Financial Services Inc. now owns 244 shares of the company’s stock valued at $29,000 after purchasing an additional 94 shares in the last quarter. Mather Group LLC. purchased a new position in shares of DT Midstream during the third quarter valued at approximately $30,000. Centerpoint Advisors LLC grew its holdings in DT Midstream by 198.9% during the third quarter. Centerpoint Advisors LLC now owns 269 shares of the company’s stock worth $30,000 after buying an additional 179 shares in the last quarter. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in DT Midstream during the 4th quarter valued at $30,000. Institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Down 0.8%

Shares of NYSE:DTM opened at $136.01 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $13.83 billion, a PE ratio of 31.56, a P/E/G ratio of 2.82 and a beta of 0.75. DT Midstream has a 52 week low of $83.30 and a 52 week high of $143.67. The company’s fifty day moving average is $129.87 and its 200-day moving average is $119.25.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Thursday, February 19th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.03). The business had revenue of $317.00 million during the quarter, compared to the consensus estimate of $320.07 million. DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. During the same quarter in the previous year, the firm posted $0.94 EPS. Equities research analysts predict that DT Midstream will post 3.8 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Monday, March 16th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. DT Midstream’s payout ratio is currently 81.67%.

About DT Midstream

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.