DT Midstream (NYSE:DTM) Given New $92.00 Price Target at Barclays

DT Midstream (NYSE:DTM) had its price target boosted by Barclays from $85.00 to $92.00 in a report published on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. raised their price objective on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Wells Fargo & Company raised their price target on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Morgan Stanley upped their price target on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Citigroup raised their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus downgraded shares of DT Midstream from a “buy” rating to a “hold” rating and upped their target price for the stock from $78.00 to $89.00 in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $80.44.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $96.16 on Monday. DT Midstream has a 12 month low of $51.17 and a 12 month high of $96.67. The firm has a market capitalization of $9.34 billion, a P/E ratio of 23.40 and a beta of 0.71. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $81.95 and a two-hundred day simple moving average of $73.93.

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

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $0.735 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.06%. DT Midstream’s dividend payout ratio is presently 71.53%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in DT Midstream by 76.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company’s stock valued at $46,000 after buying an additional 330 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in DT Midstream by 8.9% in the first quarter. Sequoia Financial Advisors LLC now owns 6,596 shares of the company’s stock valued at $403,000 after acquiring an additional 537 shares during the period. Capstone Investment Advisors LLC purchased a new position in DT Midstream in the first quarter worth about $284,000. Texas Permanent School Fund Corp grew its stake in shares of DT Midstream by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 84,868 shares of the company’s stock valued at $5,185,000 after purchasing an additional 1,158 shares during the period. Finally, TFG Advisers LLC increased its position in shares of DT Midstream by 5.6% during the 1st quarter. TFG Advisers LLC now owns 5,688 shares of the company’s stock valued at $348,000 after purchasing an additional 304 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.