DT Midstream (NYSE:DTM) Price Target Raised to $74.00

DT Midstream (NYSE:DTM) had its price objective boosted by The Goldman Sachs Group from $66.00 to $74.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a sell rating on the stock.

A number of other equities analysts also recently issued reports on the company. Stifel Nicolaus downgraded DT Midstream from a “buy” rating to a “hold” rating and lifted their price target for the company from $78.00 to $89.00 in a research note on Wednesday, October 30th. Barclays upped their target price on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday. Wells Fargo & Company upped their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Finally, Morgan Stanley raised their target price on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $80.44.

DT Midstream Price Performance

NYSE DTM remained flat at $97.03 during trading on Tuesday. The company’s stock had a trading volume of 105,312 shares, compared to its average volume of 643,531. DT Midstream has a 1 year low of $51.17 and a 1 year high of $98.08. The firm has a market capitalization of $9.43 billion, a PE ratio of 23.62 and a beta of 0.71. The firm’s fifty day simple moving average is $82.72 and its 200 day simple moving average is $74.24. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.05). The firm had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same period last year, the business earned $0.94 EPS. On average, analysts forecast that DT Midstream will post 3.96 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 annualized dividend and a dividend yield of 3.03%. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its holdings in DT Midstream by 76.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company’s stock worth $46,000 after buying an additional 330 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in DT Midstream by 8.9% during the first quarter. Sequoia Financial Advisors LLC now owns 6,596 shares of the company’s stock worth $403,000 after acquiring an additional 537 shares during the period. Capstone Investment Advisors LLC acquired a new position in DT Midstream during the first quarter worth $284,000. Texas Permanent School Fund Corp raised its position in DT Midstream by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 84,868 shares of the company’s stock worth $5,185,000 after acquiring an additional 1,158 shares during the period. Finally, TFG Advisers LLC raised its position in DT Midstream by 5.6% during the first quarter. TFG Advisers LLC now owns 5,688 shares of the company’s stock worth $348,000 after acquiring an additional 304 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Company Profile

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.