DT Midstream (NYSE:DTM) Given New $165.00 Price Target at Wells Fargo & Company

DT Midstream (NYSE:DTM) had its price target boosted by Wells Fargo & Company from $150.00 to $165.00 in a research note released on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

DTM has been the subject of several other research reports. Jefferies Financial Group set a $148.00 price objective on shares of DT Midstream and gave the stock a “buy” rating in a research report on Friday, February 20th. Mizuho boosted their price objective on shares of DT Midstream from $108.00 to $129.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Citigroup upped their target price on shares of DT Midstream from $130.00 to $156.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. JPMorgan Chase & Co. increased their target price on DT Midstream from $126.00 to $142.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Finally, UBS Group lifted their price target on DT Midstream from $128.00 to $152.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $141.00.

DT Midstream Price Performance

Shares of DTM opened at $137.58 on Friday. The stock has a 50 day simple moving average of $129.16 and a 200 day simple moving average of $118.56. DT Midstream has a 52-week low of $83.30 and a 52-week high of $143.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $14.00 billion, a PE ratio of 31.92, a P/E/G ratio of 2.79 and a beta of 0.75.

DT Midstream (NYSE:DTM) last announced its earnings results on Thursday, February 19th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.03). DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.The company had revenue of $317.00 million for the quarter, compared to analyst estimates of $320.07 million. During the same quarter last year, the business posted $0.94 earnings per share. Sell-side analysts predict that DT Midstream will post 3.8 EPS for the current fiscal year.

DT Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be given a $0.88 dividend. This is a boost from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, March 16th. DT Midstream’s payout ratio is presently 76.10%.

Insiders Place Their Bets

In other DT Midstream news, CFO Jeffrey A. Jewell bought 185 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average price of $136.33 per share, with a total value of $25,221.05. Following the completion of the transaction, the chief financial officer owned 89,583 shares in the company, valued at approximately $12,212,850.39. This trade represents a 0.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On DT Midstream

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new position in shares of DT Midstream in the 4th quarter valued at about $28,000. Richardson Financial Services Inc. raised its holdings in DT Midstream by 62.7% during the fourth quarter. Richardson Financial Services Inc. now owns 244 shares of the company’s stock worth $29,000 after acquiring an additional 94 shares in the last quarter. Mather Group LLC. acquired a new position in DT Midstream during the third quarter valued at approximately $30,000. Centerpoint Advisors LLC boosted its position in DT Midstream by 198.9% during the third quarter. Centerpoint Advisors LLC now owns 269 shares of the company’s stock valued at $30,000 after purchasing an additional 179 shares during the last quarter. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in DT Midstream in the fourth quarter valued at approximately $30,000. 81.53% of the stock is owned by institutional investors.

DT Midstream Company Profile

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.