DT Midstream (NYSE:DTM) Upgraded by Scotiabank to “Strong-Buy” Rating

Scotiabank upgraded shares of DT Midstream (NYSE:DTM) to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

DTM has been the subject of several other research reports. Morgan Stanley boosted their target price on shares of DT Midstream from $165.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. The Goldman Sachs Group boosted their target price on shares of DT Midstream from $111.00 to $127.00 and gave the company a “sell” rating in a research note on Monday, April 20th. Stifel Nicolaus set a $137.00 target price on shares of DT Midstream and gave the company a “hold” rating in a research note on Monday, February 23rd. Wells Fargo & Company boosted their target price on shares of DT Midstream from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Finally, Citigroup boosted their target price on shares of DT Midstream from $156.00 to $169.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $154.46.

DT Midstream Stock Down 0.7%

Shares of NYSE:DTM opened at $150.08 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68. The company has a fifty day simple moving average of $139.06 and a 200 day simple moving average of $129.43. The firm has a market cap of $15.31 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 3.02 and a beta of 0.75. DT Midstream has a 12-month low of $98.06 and a 12-month high of $152.88.

DT Midstream (NYSE:DTM) last released its earnings results on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.16. DT Midstream had a net margin of 36.28% and a return on equity of 9.53%. The firm had revenue of $336.00 million during the quarter, compared to analyst estimates of $313.65 million. During the same quarter in the previous year, the firm earned $1.06 earnings per share. DT Midstream has set its FY 2026 guidance at 4.420-4.820 EPS. On average, equities research analysts anticipate that DT Midstream will post 4.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $3.52 annualized dividend and a yield of 2.3%. DT Midstream’s dividend payout ratio is presently 77.88%.

Institutional Investors Weigh In On DT Midstream

Several institutional investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA lifted its holdings in DT Midstream by 0.4% in the first quarter. Glenmede Trust Co. NA now owns 24,685 shares of the company’s stock worth $3,324,000 after purchasing an additional 89 shares during the period. WNY Asset Management LLC acquired a new stake in DT Midstream in the first quarter worth about $974,000. Segall Bryant & Hamill LLC acquired a new stake in DT Midstream in the first quarter worth about $418,000. Western Wealth Management LLC acquired a new stake in DT Midstream in the 1st quarter valued at about $32,000. Finally, Edgestream Partners L.P. lifted its holdings in DT Midstream by 1,501.5% in the 1st quarter. Edgestream Partners L.P. now owns 103,683 shares of the company’s stock valued at $13,963,000 after acquiring an additional 97,209 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Company Profile

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.