DT Midstream (NYSE:DTM) Price Target Raised to $92.00

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

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company increased their price objective on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Citigroup increased their price target on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Stifel Nicolaus lowered shares of DT Midstream from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $78.00 to $89.00 in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price 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. Finally, Morgan Stanley boosted 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $80.44.

DT Midstream Trading Up 4.3 %

Shares of DTM opened at $96.16 on Monday. DT Midstream has a 1-year low of $51.17 and a 1-year high of $96.67. The company 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 debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The firm’s 50 day simple moving average is $81.95 and its 200 day simple moving average is $73.93.

DT Midstream (NYSE:DTM) last posted 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). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The company had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $242.64 million. During the same quarter last year, the business posted $0.94 EPS. Sell-side analysts forecast that DT Midstream will post 3.96 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. Stockholders of record on Monday, December 16th will be paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is 71.53%.

Institutional Trading of DT Midstream

Several large investors have recently modified their holdings of DTM. International Assets Investment Management LLC purchased a new stake in DT Midstream in the 3rd quarter worth approximately $39,166,000. Dimensional Fund Advisors LP lifted its stake in DT Midstream by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock worth $312,070,000 after acquiring an additional 490,613 shares during the period. AQR Capital Management LLC boosted its holdings in DT Midstream by 309.7% in the second quarter. AQR Capital Management LLC now owns 257,101 shares of the company’s stock valued at $18,262,000 after acquiring an additional 194,354 shares in the last quarter. Duff & Phelps Investment Management Co. increased its position in DT Midstream by 2,658.2% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 182,121 shares of the company’s stock valued at $12,936,000 after purchasing an additional 175,518 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in DT Midstream in the 2nd quarter worth $6,309,000. 81.53% of the stock is owned by institutional investors.

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.