DT Midstream, Inc. (NYSE:DTM) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of DT Midstream, Inc. (NYSE:DTM - Get Free Report) have earned an average rating of "Hold" from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned 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 $70.75.

A number of research firms recently weighed in on DTM. JPMorgan Chase & Co. upped their target price on shares of DT Midstream from $75.00 to $78.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. Stifel Nicolaus upped their price objective on shares of DT Midstream from $70.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Wells Fargo & Company upped their price objective on shares of DT Midstream from $77.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. Citigroup upped their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Barclays upped their target price on shares of DT Midstream from $66.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 17th.

DT Midstream Stock Performance

Shares of DTM traded down $1.70 during trading hours on Friday, reaching $75.12. 330,031 shares of the company traded hands, compared to its average volume of 650,559. The stock's fifty day moving average is $73.77 and its 200 day moving average is $67.07. The stock has a market cap of $7.29 billion, a P/E ratio of 18.32 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. DT Midstream has a 1-year low of $50.88 and a 1-year high of $78.83.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.06. The business had revenue of $244.00 million for the quarter, compared to analysts' expectations of $236.83 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same quarter in the previous year, the firm posted $0.93 earnings per share. Equities research analysts anticipate that DT Midstream will post 3.96 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a $0.735 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.94 annualized dividend and a yield of 3.91%. DT Midstream's dividend payout ratio is currently 71.71%.

Hedge Funds Weigh In On DT Midstream

Several large investors have recently bought and sold shares of DTM. Family Firm Inc. acquired a new position in DT Midstream in the second quarter valued at approximately $26,000. Mather Group LLC. acquired a new stake in DT Midstream in the first quarter worth $29,000. First Command Advisory Services Inc. acquired a new stake in DT Midstream in the second quarter worth $31,000. ICA Group Wealth Management LLC acquired a new stake in DT Midstream in the fourth quarter worth $32,000. Finally, American National Bank raised its holdings in DT Midstream by 100.0% in the second quarter. American National Bank now owns 468 shares of the company's stock worth $33,000 after purchasing an additional 234 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

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.