DT Midstream, Inc. to Post Q2 2024 Earnings of $0.89 Per Share, US Capital Advisors Forecasts (NYSE:DTM)

DT Midstream, Inc. (NYSE:DTM) – Equities researchers at US Capital Advisors raised their Q2 2024 earnings estimates for shares of DT Midstream in a note issued to investors on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now anticipates that the company will post earnings of $0.89 per share for the quarter, up from their prior estimate of $0.86. US Capital Advisors currently has a “Hold” rating on the stock. The consensus estimate for DT Midstream’s current full-year earnings is $3.92 per share. US Capital Advisors also issued estimates for DT Midstream’s Q3 2024 earnings at $0.87 EPS, Q4 2024 earnings at $1.04 EPS, FY2024 earnings at $3.79 EPS, Q1 2025 earnings at $0.99 EPS, Q2 2025 earnings at $0.98 EPS, Q3 2025 earnings at $0.98 EPS, Q4 2025 earnings at $1.10 EPS, FY2025 earnings at $4.05 EPS and FY2026 earnings at $4.37 EPS.

A number of other research analysts have also recently commented on DTM. Mizuho upped their price target on DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. Stifel Nicolaus increased their target price on shares of DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Barclays raised their price target on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, Wolfe Research upgraded DT Midstream from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.50.

DT Midstream Price Performance

DT Midstream stock opened at $65.59 on Wednesday. The business’s 50 day simple moving average is $62.86 and its 200 day simple moving average is $57.87. DT Midstream has a 12 month low of $45.20 and a 12 month high of $67.38. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 16.00 and a beta of 0.72. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71.

DT Midstream (NYSE:DTM) last released its earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $242.62 million. During the same period in the previous year, the company earned $0.84 earnings per share.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Monday, June 17th. DT Midstream’s payout ratio is 71.71%.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the transaction, the director now owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Jeffrey A. Jewell acquired 400 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $62.80 per share, with a total value of $25,120.00. Following the acquisition, the chief financial officer now owns 44,285 shares in the company, valued at approximately $2,781,098. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was purchased at an average cost of $56.87 per share, with a total value of $56,870.00. Following the purchase, the director now owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in shares of DT Midstream by 21.3% during the 1st quarter. GAMMA Investing LLC now owns 1,185 shares of the company’s stock valued at $72,000 after purchasing an additional 208 shares during the last quarter. Azimuth Capital Investment Management LLC grew its stake in shares of DT Midstream by 3.4% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 6,289 shares of the company’s stock valued at $345,000 after buying an additional 209 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of DT Midstream by 28.3% in the fourth quarter. Blue Trust Inc. now owns 992 shares of the company’s stock worth $53,000 after buying an additional 219 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of DT Midstream by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 42,616 shares of the company’s stock valued at $2,255,000 after acquiring an additional 220 shares during the last quarter. Finally, Commerce Bank boosted its holdings in DT Midstream by 1.2% during the 4th quarter. Commerce Bank now owns 18,815 shares of the company’s stock valued at $1,031,000 after acquiring an additional 220 shares during the period. 81.53% of the stock is owned by hedge funds and other institutional investors.

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.