Barclays Issues Positive Forecast for DT Midstream (NYSE:DTM) Stock Price

DT Midstream (NYSE:DTM) had its price objective raised by Barclays from $102.00 to $103.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other brokerages have also recently weighed in on DTM. JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Bank of America assumed coverage on shares of DT Midstream in a research note on Monday, March 24th. They set a “buy” rating and a $110.00 price target for the company. Wells Fargo & Company decreased their price target on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Stifel Nicolaus decreased their price target on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Morgan Stanley increased their price target on shares of DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $108.36.

DT Midstream Trading Up 0.8%

Shares of DT Midstream stock opened at $104.42 on Tuesday. The company has a fifty day simple moving average of $97.38 and a 200-day simple moving average of $99.70. DT Midstream has a 12-month low of $65.43 and a 12-month high of $114.50. 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 stock has a market cap of $10.61 billion, a price-to-earnings ratio of 25.41 and a beta of 0.77.

DT Midstream (NYSE:DTM) last issued its earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.01). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The company had revenue of $288.81 million during the quarter, compared to analyst estimates of $285.48 million. During the same quarter in the previous year, the company posted $0.99 EPS. On average, equities analysts forecast that DT Midstream will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a yield of 3.14%. DT Midstream’s payout ratio is currently 89.37%.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was bought at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the transaction, the director now owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders bought 1,235 shares of company stock worth $109,867. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On DT Midstream

A number of large investors have recently bought and sold shares of DTM. Vanguard Group Inc. increased its holdings in shares of DT Midstream by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company’s stock valued at $1,078,161,000 after purchasing an additional 621,183 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of DT Midstream by 5.5% in the 4th quarter. Deutsche Bank AG now owns 2,831,830 shares of the company’s stock valued at $281,569,000 after purchasing an additional 147,790 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of DT Midstream by 18.7% in the 4th quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company’s stock valued at $243,948,000 after purchasing an additional 386,670 shares in the last quarter. Blackstone Inc. increased its holdings in shares of DT Midstream by 2,783.1% in the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock valued at $162,199,000 after purchasing an additional 1,574,705 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. increased its holdings in shares of DT Midstream by 21.8% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 1,582,833 shares of the company’s stock valued at $152,712,000 after purchasing an additional 282,870 shares in the last quarter. Hedge funds and other institutional investors 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.