Fintel reports that on April 25, 2023, Morgan Stanley maintained coverage of DT Midstream (NYSE:DTM) with a Underweight recommendation.
Analyst Price Forecast Suggests 23.90% Upside
As of April 24, 2023, the average one-year price target for DT Midstream is 59.16. The forecasts range from a low of 54.54 to a high of $67.20. The average price target represents an increase of 23.90% from its latest reported closing price of 47.75.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for DT Midstream is 957MM, an increase of 4.00%. The projected annual non-GAAP EPS is 3.95.
DT Midstream Declares $0.69 Dividend
On February 16, 2023 the company declared a regular quarterly dividend of $0.69 per share ($2.76 annualized). Shareholders of record as of March 20, 2023 received the payment on April 15, 2023. Previously, the company paid $0.64 per share.
At the current share price of $47.75 / share, the stock's dividend yield is 5.78%.
Looking back five years and taking a sample every week, the average dividend yield has been 5.07%, the lowest has been 4.22%, and the highest has been 6.92%. The standard deviation of yields is 0.67 (n=64).
The current dividend yield is 1.05 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.72. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 864 funds or institutions reporting positions in DT Midstream. This is an increase of 33 owner(s) or 3.97% in the last quarter. Average portfolio weight of all funds dedicated to DTM is 0.33%, a decrease of 1.66%. Total shares owned by institutions increased in the last three months by 0.86% to 97,496K shares. 
The put/call ratio of DTM is 0.23, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital Research Global Investors holds 3,543K shares representing 3.66% ownership of the company. In it's prior filing, the firm reported owning 4,272K shares, representing a decrease of 20.59%. The firm decreased its portfolio allocation in DTM by 18.77% over the last quarter.
Energy Income Partners holds 3,152K shares representing 3.25% ownership of the company. In it's prior filing, the firm reported owning 3,676K shares, representing a decrease of 16.60%. The firm decreased its portfolio allocation in DTM by 50.98% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 2,988K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 2,827K shares, representing an increase of 5.39%. The firm decreased its portfolio allocation in DTM by 1.75% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,938K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 2,879K shares, representing an increase of 2.00%. The firm increased its portfolio allocation in DTM by 0.36% over the last quarter.
Mitsubishi UFJ Trust & Banking holds 2,818K shares representing 2.91% ownership of the company. In it's prior filing, the firm reported owning 2,999K shares, representing a decrease of 6.43%. The firm decreased its portfolio allocation in DTM by 62.94% over the last quarter.
DT Midstream Background Information
(This description is provided by the company.)
DT Midstream is an owner, operator and developer of natural gas interstate and intrastate pipelines, storage and gathering systems, and compression, treatment and surface facilities. The Company transports clean, natural gas for gas and electric utilities, power plants, marketers, large industrial customers and energy producers across the Southern, Northeastern and Midwestern United States and Canada. The Detroit-based company offers a comprehensive, wellhead-to-market array of services, including natural gas transportation, storage and gathering. DT Midstream is transitioning towards net zero greenhouse gas emissions by 2050, including a target of achieving 30% of its carbon emissions reduction in the next decade. DT Midstream is among the first in the midstream sector to establish net zero goals.
See all DT Midstream regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
