FY2024 EPS Estimates for DT Midstream, Inc. (NYSE:DTM) Decreased by US Capital Advisors

DT Midstream, Inc. (NYSE:DTM) – Equities researchers at US Capital Advisors reduced their FY2024 earnings estimates for DT Midstream in a research report issued on Monday, April 29th. US Capital Advisors analyst J. Carreker now expects that the company will earn $3.80 per share for the year, down from their previous estimate of $3.81. US Capital Advisors has a “Hold” rating on the stock. The consensus estimate for DT Midstream’s current full-year earnings is $3.93 per share.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. The firm had revenue of $240.00 million during the quarter, compared to analyst estimates of $242.62 million. During the same quarter in the prior year, the business posted $0.84 earnings per share.

Several other equities research analysts also recently issued reports on DTM. Stifel Nicolaus boosted their price objective on shares of DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday. Wolfe Research upgraded shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, February 20th. Barclays upped their target price on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Finally, Mizuho upped their target price on shares of DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.50.

DT Midstream Price Performance

DTM opened at $62.93 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 0.71. DT Midstream has a 52-week low of $45.10 and a 52-week high of $64.69. The company has a 50 day moving average of $60.57 and a two-hundred day moving average of $56.77. The company has a market cap of $6.11 billion, a P/E ratio of 15.30 and a beta of 0.72.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be issued a dividend of $0.735 per share. The ex-dividend date is Friday, June 14th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.67%. DT Midstream’s dividend payout ratio (DPR) is 71.71%.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $56.87 per share, with a total value of $56,870.00. Following the acquisition, the director now directly owns 37,289 shares in the company, valued at $2,120,625.43. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.04% of the stock is owned by corporate insiders.

Institutional Trading of DT Midstream

A number of large investors have recently modified their holdings of the company. GSA Capital Partners LLP increased its holdings in shares of DT Midstream by 551.3% in the 1st quarter. GSA Capital Partners LLP now owns 55,764 shares of the company’s stock worth $3,407,000 after acquiring an additional 47,202 shares during the period. Palisade Asset Management LLC bought a new position in DT Midstream in the 1st quarter valued at about $92,000. Capstone Investment Advisors LLC bought a new position in DT Midstream in the 1st quarter valued at about $284,000. Mirae Asset Global Investments Co. Ltd. grew its position in DT Midstream by 14.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 809,126 shares of the company’s stock valued at $49,438,000 after buying an additional 99,755 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in DT Midstream by 8.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,596 shares of the company’s stock valued at $403,000 after buying an additional 537 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

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.