Fintel reports that on September 15, 2023, Mizuho reiterated coverage of DT Midstream (NYSE:DTM) with a Buy recommendation.
Analyst Price Forecast Suggests 7.44% Upside
As of August 31, 2023, the average one-year price target for DT Midstream is 57.56. The forecasts range from a low of 54.54 to a high of $60.90. The average price target represents an increase of 7.44% from its latest reported closing price of 53.57.
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The projected annual revenue for DT Midstream is 957MM, an increase of 3.77%. The projected annual non-GAAP EPS is 3.95.
DT Midstream Declares $0.69 Dividend
On August 1, 2023 the company declared a regular quarterly dividend of $0.69 per share ($2.76 annualized). Shareholders of record as of September 18, 2023 will receive the payment on October 15, 2023. Previously, the company paid $0.69 per share.
At the current share price of $53.57 / share, the stock's dividend yield is 5.15%.
Looking back five years and taking a sample every week, the average dividend yield has been 5.29%, the lowest has been 4.22%, and the highest has been 6.92%. The standard deviation of yields is 0.77 (n=81).
The current dividend yield is 0.18 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.88. 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's 3-Year dividend growth rate is -0.18%.
What is the Fund Sentiment?
There are 798 funds or institutions reporting positions in DT Midstream. This is a decrease of 62 owner(s) or 7.21% in the last quarter. Average portfolio weight of all funds dedicated to DTM is 0.30%, a decrease of 6.90%. Total shares owned by institutions decreased in the last three months by 1.81% to 96,920K shares. 
The put/call ratio of DTM is 0.05, indicating a bullish outlook.
What are Other Shareholders Doing?
Energy Income Partners holds 3,739K shares representing 3.86% ownership of the company. In it's prior filing, the firm reported owning 3,668K shares, representing an increase of 1.90%. The firm decreased its portfolio allocation in DTM by 1.97% over the last quarter.
Goldman Sachs Group holds 3,599K shares representing 3.71% ownership of the company. In it's prior filing, the firm reported owning 3,364K shares, representing an increase of 6.53%. The firm increased its portfolio allocation in DTM by 249.16% over the last quarter.
Mitsubishi UFJ Trust & Banking holds 3,226K shares representing 3.33% ownership of the company. In it's prior filing, the firm reported owning 3,314K shares, representing a decrease of 2.74%. The firm increased its portfolio allocation in DTM by 133.94% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,039K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 2,989K shares, representing an increase of 1.62%. The firm decreased its portfolio allocation in DTM by 5.84% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 2,939K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 2,985K shares, representing a decrease of 1.55%. The firm decreased its portfolio allocation in DTM by 5.29% 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.
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