FY2024 EPS Forecast for DT Midstream Reduced by Analyst

DT Midstream, Inc. (NYSE:DTM - Free Report) - Investment analysts at US Capital Advisors lowered their FY2024 EPS estimates for shares of DT Midstream in a research note issued on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now expects that the company will earn $3.70 per share for the year, down from their previous forecast of $4.03. The consensus estimate for DT Midstream's current full-year earnings is $3.96 per share. US Capital Advisors also issued estimates for DT Midstream's Q4 2024 earnings at $0.83 EPS, Q1 2025 earnings at $0.99 EPS, FY2025 earnings at $4.11 EPS and FY2026 earnings at $4.56 EPS.

Several other analysts have also recently commented on DTM. Wells Fargo & Company raised their price target on DT Midstream from $87.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Barclays lifted their price target on DT Midstream from $85.00 to $92.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Morgan Stanley raised their price objective on DT Midstream from $82.00 to $92.00 and gave the stock an "underweight" rating in a report on Friday, October 25th. Stifel Nicolaus lowered shares of DT Midstream from a "buy" rating to a "hold" rating and lifted their price objective for the company from $78.00 to $89.00 in a research note on Wednesday, October 30th. Finally, Citigroup raised shares of DT Midstream from a "neutral" rating to a "buy" rating and increased their price target for the stock from $90.00 to $115.00 in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $84.78.

DT Midstream Stock Performance

NYSE DTM traded down $0.94 during trading on Thursday, reaching $105.81. The company's stock had a trading volume of 946,507 shares, compared to its average volume of 674,567. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $10.28 billion, a price-to-earnings ratio of 25.74 and a beta of 0.71. DT Midstream has a twelve month low of $51.17 and a twelve month high of $109.85. The business's fifty day moving average price is $90.08 and its 200-day moving average price is $78.16.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $0.95 by ($0.05). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same quarter in the previous year, the business posted $0.94 earnings per share.

Institutional Trading of DT Midstream

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd raised its holdings in shares of DT Midstream by 7.9% during the first quarter. Quadrature Capital Ltd now owns 7,149 shares of the company's stock valued at $437,000 after acquiring an additional 522 shares during the period. Lazard Asset Management LLC purchased a new position in shares of DT Midstream during the first quarter valued at $73,000. Price T Rowe Associates Inc. MD raised its position in DT Midstream by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 46,864 shares of the company's stock valued at $2,864,000 after buying an additional 2,997 shares during the period. Bayesian Capital Management LP grew its stake in DT Midstream by 10.3% during the 1st quarter. Bayesian Capital Management LP now owns 6,400 shares of the company's stock valued at $391,000 after acquiring an additional 600 shares in the last quarter. Finally, Invst LLC purchased a new stake in shares of DT Midstream in the first quarter worth approximately $782,000. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Monday, December 16th. DT Midstream's payout ratio is currently 71.53%.

About DT Midstream

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.