DT Midstream (NYSE:DTM) Price Target Raised to $126.00

DT Midstream (NYSE:DTM) had its price target lifted by JPMorgan Chase & Co. from $118.00 to $126.00 in a report published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other analysts have also commented on DTM. UBS Group raised their price target on shares of DT Midstream from $115.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Jefferies Financial Group assumed coverage on DT Midstream in a research report on Monday, November 3rd. They set a “buy” rating and a $125.00 target price on the stock. Mizuho increased their price target on DT Midstream from $105.00 to $108.00 and gave the stock a “neutral” rating in a research report on Friday, August 29th. Citigroup raised their price objective on DT Midstream from $115.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, DT Midstream has an average rating of “Hold” and a consensus price target of $118.08.

DT Midstream Stock Up 1.3%

Shares of DTM opened at $121.51 on Tuesday. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 2.32 and a beta of 0.76. DT Midstream has a 52 week low of $83.30 and a 52 week high of $121.82. The stock’s 50-day moving average price is $113.17 and its 200-day moving average price is $107.62. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.69.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.10. The company had revenue of $314.00 million during the quarter, compared to the consensus estimate of $309.21 million. DT Midstream had a return on equity of 8.83% and a net margin of 34.30%.During the same period in the previous year, the company posted $0.90 earnings per share. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. On average, sell-side analysts predict that DT Midstream will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be issued a $0.82 dividend. The ex-dividend date is Monday, December 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.7%. DT Midstream’s dividend payout ratio (DPR) is presently 82.83%.

Institutional Investors Weigh In On DT Midstream

A number of large investors have recently modified their holdings of DTM. Charles Schwab Investment Management Inc. grew its position in shares of DT Midstream by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,148,324 shares of the company’s stock valued at $110,790,000 after purchasing an additional 5,218 shares in the last quarter. Fractal Investments LLC lifted its position in DT Midstream by 132.6% during the second quarter. Fractal Investments LLC now owns 230,999 shares of the company’s stock worth $25,389,000 after buying an additional 131,700 shares in the last quarter. Clean Energy Transition LLP acquired a new position in DT Midstream during the first quarter worth $16,966,000. Element Capital Management LLC acquired a new position in DT Midstream during the first quarter worth $2,679,000. Finally, LPL Financial LLC grew its holdings in DT Midstream by 34.1% in the 1st quarter. LPL Financial LLC now owns 109,462 shares of the company’s stock valued at $10,561,000 after buying an additional 27,860 shares in the last quarter. Hedge funds and other institutional investors 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.