Wells Fargo & Company Cuts DT Midstream (NYSE:DTM) Price Target to $108.00

DT Midstream (NYSE:DTM) had its target price lowered by Wells Fargo & Company from $118.00 to $108.00 in a research note published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts also recently issued reports on DTM. Barclays assumed coverage on DT Midstream in a research report on Friday, January 10th. They set an “equal weight” rating and a $112.00 price objective for the company. Stifel Nicolaus cut their price target on DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a report on Thursday. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and increased their price objective for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. The Goldman Sachs Group boosted their target price on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. upped their target price on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Two 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $102.00.

DT Midstream Stock Performance

Shares of DTM opened at $96.03 on Friday. DT Midstream has a 12-month low of $57.12 and a 12-month high of $114.50. The stock has a market cap of $9.33 billion, a P/E ratio of 23.37 and a beta of 0.79. 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 company has a 50-day moving average of $102.63 and a two-hundred day moving average of $93.12.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.42%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in DT Midstream in the third quarter valued at approximately $29,000. Bessemer Group Inc. boosted its holdings in shares of DT Midstream by 61.6% in the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock valued at $30,000 after purchasing an additional 117 shares during the last quarter. AdvisorNet Financial Inc grew its stake in shares of DT Midstream by 106.7% during the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after buying an additional 160 shares during the period. Sound Income Strategies LLC increased its holdings in shares of DT Midstream by 93.7% during the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after buying an additional 163 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of DT Midstream in the 3rd quarter worth $40,000. Institutional investors and hedge funds 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.