DT Midstream, Inc. (NYSE:DTM) Expected to Earn Q2 2024 Earnings of $0.89 Per Share

DT Midstream, Inc. (NYSE:DTM) – Stock analysts at US Capital Advisors raised their Q2 2024 EPS estimates for shares of DT Midstream in a report released on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now anticipates that the company will earn $0.89 per share for the quarter, up from their prior forecast of $0.86. US Capital Advisors 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.

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

A number of other equities analysts have also weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Mizuho boosted their price target on shares of DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Wolfe Research raised shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Finally, Barclays lifted their price objective on DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Two investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $61.50.

DT Midstream Trading Down 0.4 %

Shares of DTM stock opened at $65.59 on Wednesday. The company has a market capitalization of $6.37 billion, a P/E 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. The business’s 50 day moving average is $62.86 and its two-hundred day moving average is $57.87. DT Midstream has a twelve month low of $45.20 and a twelve month high of $67.38.

DT Midstream Dividend Announcement

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

Insider Buying and Selling

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

Institutional Trading of DT Midstream

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of DT Midstream by 8.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock worth $186,407,000 after purchasing an additional 266,433 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of DT Midstream by 1.6% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company’s stock valued at $144,398,000 after buying an additional 37,463 shares during the period. JPMorgan Chase & Co. boosted its position in DT Midstream by 2.1% during the third quarter. JPMorgan Chase & Co. now owns 1,931,337 shares of the company’s stock worth $102,960,000 after acquiring an additional 39,059 shares during the last quarter. First Trust Advisors LP grew its stake in DT Midstream by 284.6% in the 4th quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock worth $83,537,000 after acquiring an additional 1,128,056 shares during the period. Finally, Norges Bank acquired a new position in DT Midstream in the 4th quarter valued at $61,638,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

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.