DT Midstream (NYSE:DTM) Rating Increased to Buy at Stifel Nicolaus

Stifel Nicolaus upgraded shares of DT Midstream (NYSE:DTM) from a hold rating to a buy rating in a research report report published on Thursday, MarketBeat reports. They currently have $106.00 target price on the stock, up from their prior target price of $89.00.

Several other equities research analysts also recently commented on the company. Wells Fargo & Company upped their target price on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group raised their target price on shares of DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. Finally, Barclays boosted their target price on shares of DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $88.89.

DT Midstream Stock Performance

NYSE:DTM opened at $97.53 on Thursday. The company has a 50-day moving average of $96.65 and a 200-day moving average of $81.94. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of 23.73 and a beta of 0.77. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream has a twelve month low of $51.17 and a twelve month high of $109.85.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter last year, the firm posted $0.94 EPS. Analysts forecast that DT Midstream will post 3.84 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

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 issued a $0.735 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 3.01%. DT Midstream’s dividend payout ratio is currently 71.53%.

Institutional Investors Weigh In On DT Midstream

A number of large investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new position in DT Midstream during the third quarter valued at about $29,000. Sanctuary Advisors LLC lifted its stake in shares of DT Midstream by 14.6% in the third quarter. Sanctuary Advisors LLC now owns 4,695 shares of the company’s stock worth $369,000 after buying an additional 597 shares during the last quarter. Coldstream Capital Management Inc. acquired a new position in DT Midstream in the 3rd quarter valued at $239,000. Geode Capital Management LLC raised its holdings in DT Midstream by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock worth $162,567,000 after acquiring an additional 85,462 shares during the period. Finally, Executive Wealth Management LLC boosted its holdings in DT Midstream by 14.7% during the third quarter. Executive Wealth Management LLC now owns 10,563 shares of the company’s stock valued at $831,000 after acquiring an additional 1,356 shares during the period. 81.53% of the stock is currently owned by institutional investors.

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.