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

Shares of DT Midstream, Inc. (NYSE:DTM) have received a consensus rating of “Hold” from the twelve research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $144.10.

A number of brokerages have recently issued reports on DTM. Citigroup boosted their price objective on shares of DT Midstream from $130.00 to $156.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, January 21st. Wall Street Zen downgraded DT Midstream from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. UBS Group boosted their price target on DT Midstream from $128.00 to $152.00 and gave the company a “buy” rating in a report on Friday, February 20th. Finally, Jefferies Financial Group set a $148.00 price target on DT Midstream and gave the stock a “buy” rating in a research report on Friday, February 20th.

Insider Buying and Selling

In other news, CFO Jeffrey A. Jewell bought 185 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were bought at an average price of $136.33 per share, for a total transaction of $25,221.05. Following the purchase, the chief financial officer owned 89,583 shares in the company, valued at approximately $12,212,850.39. The trade was a 0.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On DT Midstream

Hedge funds have recently modified their holdings of the company. NewEdge Wealth LLC raised its position in shares of DT Midstream by 2.4% during the 4th quarter. NewEdge Wealth LLC now owns 3,613 shares of the company’s stock valued at $432,000 after purchasing an additional 85 shares during the period. Covestor Ltd boosted its holdings in DT Midstream by 11.2% in the 4th quarter. Covestor Ltd now owns 897 shares of the company’s stock worth $107,000 after buying an additional 90 shares during the period. Richardson Financial Services Inc. increased its stake in DT Midstream by 62.7% in the 4th quarter. Richardson Financial Services Inc. now owns 244 shares of the company’s stock worth $29,000 after buying an additional 94 shares in the last quarter. VestGen Investment Management increased its stake in DT Midstream by 1.2% in the 4th quarter. VestGen Investment Management now owns 7,698 shares of the company’s stock worth $921,000 after buying an additional 94 shares in the last quarter. Finally, Pathstone Holdings LLC raised its holdings in DT Midstream by 0.3% during the third quarter. Pathstone Holdings LLC now owns 28,322 shares of the company’s stock valued at $3,215,000 after acquiring an additional 97 shares during the period. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $134.08 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $13.68 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 2.77 and a beta of 0.75. The firm’s 50 day moving average price is $134.01 and its 200-day moving average price is $121.87. DT Midstream has a twelve month low of $83.30 and a twelve month high of $143.67.

DT Midstream (NYSE:DTM) last announced its earnings results 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). DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. The business had revenue of $317.00 million for the quarter, compared to the consensus estimate of $320.07 million. During the same quarter last year, the firm posted $0.94 earnings per share. Equities research analysts expect that DT Midstream will post 3.8 EPS for the current year.

DT Midstream Increases Dividend

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