DT Midstream, Inc. (NYSE:DTM) to Post FY2024 Earnings of $3.80 Per Share, US Capital Advisors Forecasts

DT Midstream, Inc. (NYSE:DTM) – Analysts at US Capital Advisors cut their FY2024 earnings per share estimates for shares of DT Midstream in a research note issued on Monday, April 29th. US Capital Advisors analyst J. Carreker now anticipates that the company will earn $3.80 per share for the year, down from their previous estimate of $3.81. US Capital Advisors currently has a “Hold” rating on the stock. The consensus estimate for DT Midstream’s current full-year earnings is $3.95 per share.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. The business had revenue of $240.00 million for the quarter, compared to the consensus estimate of $242.62 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.46%. During the same period in the previous year, the business earned $0.84 earnings per share.

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

DT Midstream Trading Down 0.9 %

DTM opened at $61.64 on Thursday. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 15.03 and a beta of 0.71. The stock’s 50 day moving average price is $60.35 and its 200-day moving average price is $56.70. DT Midstream has a one year low of $45.10 and a one year high of $64.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63.

Institutional Investors Weigh In On DT Midstream

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mariner LLC grew its position in shares of DT Midstream by 10.6% in the third quarter. Mariner LLC now owns 20,790 shares of the company’s stock valued at $1,100,000 after purchasing an additional 1,985 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of DT Midstream by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 1,931,337 shares of the company’s stock valued at $102,960,000 after purchasing an additional 39,059 shares during the last quarter. Comerica Bank grew its position in shares of DT Midstream by 11,073.2% in the third quarter. Comerica Bank now owns 86,257 shares of the company’s stock valued at $4,565,000 after purchasing an additional 85,485 shares during the last quarter. Whittier Trust Co. lifted its stake in shares of DT Midstream by 175.0% during the fourth quarter. Whittier Trust Co. now owns 1,672 shares of the company’s stock valued at $92,000 after buying an additional 1,064 shares during the period. Finally, Barclays PLC lifted its stake in shares of DT Midstream by 100.2% during the third quarter. Barclays PLC now owns 117,302 shares of the company’s stock valued at $6,207,000 after buying an additional 58,722 shares during the period. 81.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $56.87 per share, for a total transaction of $56,870.00. Following the acquisition, the director now owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

DT Midstream Announces Dividend

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 paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date is Monday, June 17th. DT Midstream’s dividend payout ratio (DPR) is 71.71%.

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.