DT Midstream (NYSE:DTM) Given New $102.00 Price Target at Stifel Nicolaus

DT Midstream (NYSE:DTM) had its price objective lowered by Stifel Nicolaus from $106.00 to $102.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

DTM has been the topic of several other research reports. Wells Fargo & Company upped their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Raymond James upped their target price on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price target on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. The Goldman Sachs Group increased their price objective on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Finally, Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and raised their target price for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $101.11.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $92.92 on Thursday. DT Midstream has a twelve month low of $56.60 and a twelve month high of $114.50. The stock’s 50 day moving average is $102.73 and its 200-day moving average is $92.95. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $9.03 billion, a price-to-earnings ratio of 22.61 and a beta of 0.79.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $0.82 per share. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Monday, March 17th. DT Midstream’s dividend payout ratio (DPR) is 71.53%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DTM. Blackstone Inc. boosted its holdings in shares of DT Midstream by 2,783.1% in the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock worth $162,199,000 after buying an additional 1,574,705 shares during the last quarter. Norges Bank bought a new stake in DT Midstream in the fourth quarter worth about $119,520,000. FMR LLC boosted its stake in DT Midstream by 1,476.9% in the third quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after acquiring an additional 754,839 shares during the last quarter. Zimmer Partners LP bought a new position in shares of DT Midstream during the 4th quarter valued at approximately $74,572,000. Finally, Brookfield Corp ON increased its stake in shares of DT Midstream by 171.3% during the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after purchasing an additional 655,695 shares during the last quarter. 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.