DT Midstream (NYSE:DTM) Price Target Cut to $102.00 by Analysts at Barclays

DT Midstream (NYSE:DTM) had its target price lowered by Barclays from $107.00 to $102.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

DTM has been the topic of several other reports. UBS Group upped their target price on shares of DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Stifel Nicolaus cut their price objective on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company decreased their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a report on Friday, February 28th. US Capital Advisors upgraded DT Midstream from a “hold” rating to a “moderate buy” rating in a report on Monday, April 7th. Finally, Bank of America initiated coverage on DT Midstream in a research report on Monday, March 24th. They issued a “buy” rating and a $110.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $104.67.

DT Midstream Stock Up 2.8 %

Shares of NYSE:DTM opened at $92.58 on Friday. The firm has a market capitalization of $9.41 billion, a PE ratio of 22.53 and a beta of 0.77. DT Midstream has a 1 year low of $61.01 and a 1 year high of $114.50. 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 moving average is $95.93 and its two-hundred day moving average is $97.03.

DT Midstream Increases Dividend

The business also recently disclosed 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 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio is currently 91.11%.

Insider Transactions at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the transaction, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have bought 1,170 shares of company stock worth $103,357. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of DT Midstream

Large investors have recently bought and sold shares of the business. Blackstone Inc. boosted its stake in shares of DT Midstream by 2,783.1% during the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock worth $162,199,000 after buying an additional 1,574,705 shares during the period. Norges Bank purchased a new stake in DT Midstream during the 4th quarter valued at approximately $119,520,000. Zimmer Partners LP acquired a new stake in DT Midstream during the 4th quarter worth approximately $74,572,000. Westwood Holdings Group Inc. grew its stake in shares of DT Midstream by 108.8% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company’s stock valued at $107,784,000 after purchasing an additional 564,899 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in shares of DT Midstream by 733.3% in the 4th quarter. Bank of Montreal Can now owns 458,789 shares of the company’s stock valued at $45,617,000 after purchasing an additional 403,730 shares during the last quarter. 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.