DT Midstream (NYSE:DTM) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of DT Midstream (NYSE:DTM) from a hold rating to a sell rating in a research report released on Saturday morning.

A number of other research analysts have also recently issued reports on the company. Citigroup lifted their target price on DT Midstream from $130.00 to $156.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Jefferies Financial Group set a $148.00 target price on shares of DT Midstream and gave the stock a “buy” rating in a report on Friday, February 20th. JPMorgan Chase & Co. raised their price target on shares of DT Midstream from $126.00 to $142.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, January 21st. Finally, UBS Group upped their price objective on shares of DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $144.10.

DT Midstream Trading Down 0.6%

Shares of DTM stock opened at $134.63 on Friday. The stock’s fifty day moving average price is $132.95 and its two-hundred day moving average price is $121.19. The company has a market cap of $13.73 billion, a PE ratio of 31.24, a P/E/G ratio of 2.80 and a beta of 0.75. DT Midstream has a fifty-two week low of $83.30 and a fifty-two week high of $143.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Thursday, February 19th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.The business had revenue of $317.00 million for the quarter, compared to analyst estimates of $320.07 million. During the same period last year, the firm posted $0.94 EPS. Equities analysts predict that DT Midstream will post 3.8 EPS 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. Shareholders of record on Monday, March 16th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, March 16th. This is a boost from DT Midstream’s previous quarterly dividend of $0.82. DT Midstream’s payout ratio is currently 81.67%.

Insider Buying and Selling

In other news, CFO Jeffrey A. Jewell purchased 185 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average cost of $136.33 per share, with a total value of $25,221.05. Following the completion of the purchase, the chief financial officer owned 89,583 shares of the company’s stock, valued at $12,212,850.39. This trade represents a 0.21% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DTM. Deutsche Bank AG boosted its position in DT Midstream by 6.9% during the 4th quarter. Deutsche Bank AG now owns 3,090,365 shares of the company’s stock worth $369,855,000 after buying an additional 200,114 shares during the period. 59 North Capital Management LP increased its position in DT Midstream by 49.0% in the 3rd quarter. 59 North Capital Management LP now owns 3,074,081 shares of the company’s stock valued at $347,556,000 after acquiring an additional 1,010,965 shares during the period. Tortoise Capital Advisors L.L.C. increased its position in DT Midstream by 10.6% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 2,980,945 shares of the company’s stock valued at $356,759,000 after acquiring an additional 285,770 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of DT Midstream by 3.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,668,447 shares of the company’s stock valued at $301,695,000 after acquiring an additional 99,602 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of DT Midstream by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 2,407,612 shares of the company’s stock valued at $288,191,000 after acquiring an additional 106,533 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

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.