Brokers Offer Predictions for DT Midstream FY2024 Earnings

DT Midstream, Inc. (NYSE:DTM) – Equities research analysts at US Capital Advisors cut their FY2024 earnings per share estimates for shares of DT Midstream in a report released on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now anticipates that the company will earn $3.70 per share for the year, down from their prior forecast of $4.03. The consensus estimate for DT Midstream’s current full-year earnings is $3.96 per share. US Capital Advisors also issued estimates for DT Midstream’s Q4 2024 earnings at $0.83 EPS, Q1 2025 earnings at $0.99 EPS, FY2025 earnings at $4.11 EPS and FY2026 earnings at $4.56 EPS.

A number of other research analysts have also commented on the company. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and raised their price target for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Barclays upped their price target on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. The Goldman Sachs Group raised their price objective on shares of DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. Wells Fargo & Company raised their target price on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley raised their target price on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $84.78.

DT Midstream Stock Performance

Shares of NYSE DTM opened at $105.82 on Thursday. DT Midstream has a 12-month low of $51.17 and a 12-month high of $109.85. The company has a market cap of $10.28 billion, a PE ratio of 25.75 and a beta of 0.71. The stock has a 50 day simple moving average of $89.51 and a 200-day simple moving average of $77.96. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The firm had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. During the same quarter in the prior year, the company posted $0.94 EPS.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a $0.735 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.78%. DT Midstream’s payout ratio is currently 71.53%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DTM. FMR LLC lifted its stake in DT Midstream by 1,476.9% in the 3rd quarter. FMR LLC now owns 805,950 shares of the company’s stock worth $63,396,000 after acquiring an additional 754,839 shares in the last quarter. Brookfield Corp ON increased its holdings in shares of DT Midstream by 171.3% in the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after purchasing an additional 655,695 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of DT Midstream in the third quarter worth approximately $39,166,000. Dimensional Fund Advisors LP boosted its holdings in shares of DT Midstream by 12.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock worth $312,070,000 after purchasing an additional 490,613 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in DT Midstream by 30.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock valued at $90,978,000 after purchasing an additional 267,269 shares in the last quarter. Hedge funds and other institutional investors 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.