DT Midstream, Inc. (NYSE:DTM) Given Consensus Recommendation of “Hold” by Brokerages

Shares of DT Midstream, Inc. (NYSE:DTM) have been given a consensus recommendation of “Hold” by the nine research firms that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $73.00.

DTM has been the subject of a number of analyst reports. Barclays upped their price target on DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday. Citigroup upped their price target on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. upped their price target on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday. Stifel Nicolaus upped their price target on DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company upped their price target on DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st.

DT Midstream Stock Up 1.6 %

DTM stock opened at $84.05 on Wednesday. DT Midstream has a 1-year low of $51.17 and a 1-year high of $84.18. The business has a fifty day moving average price of $76.31 and a 200-day moving average price of $69.92. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $8.16 billion, a P/E ratio of 20.50 and a beta of 0.74.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The company had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same quarter in the prior year, the business earned $0.93 earnings per share. Equities analysts forecast that DT Midstream will post 3.96 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Monday, September 16th. DT Midstream’s payout ratio is presently 71.71%.

Hedge Funds Weigh In On DT Midstream

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DTM. Family Firm Inc. bought a new position in DT Midstream during the second quarter valued at approximately $26,000. Mather Group LLC. bought a new stake in shares of DT Midstream in the 1st quarter valued at approximately $29,000. First Command Advisory Services Inc. bought a new stake in shares of DT Midstream in the 2nd quarter valued at approximately $31,000. ICA Group Wealth Management LLC bought a new stake in shares of DT Midstream in the 4th quarter valued at approximately $32,000. Finally, American National Bank lifted its stake in shares of DT Midstream by 100.0% in the 2nd quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after purchasing an additional 234 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

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.