DT Midstream (NYSE:DTM) Upgraded at Citigroup

Citigroup upgraded shares of DT Midstream (NYSE:DTM) from a neutral rating to a buy rating in a report released on Thursday morning, Marketbeat.com reports. The brokerage currently has $115.00 price target on the stock, up from their previous price target of $90.00.

A number of other equities analysts also recently commented on the company. Wells Fargo & Company raised their price objective on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group lifted their price target on shares of DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th. Morgan Stanley boosted their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Barclays raised their target price on shares of DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, Stifel Nicolaus cut shares of DT Midstream from a “buy” rating to a “hold” rating and upped their price target for the stock from $78.00 to $89.00 in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $84.78.

DT Midstream Price Performance

DT Midstream stock opened at $108.56 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 26.41 and a beta of 0.71. DT Midstream has a 1 year low of $51.17 and a 1 year high of $109.85. The firm has a 50 day moving average price of $88.36 and a 200 day moving average price of $77.39.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The firm had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. During the same quarter in the previous year, the company earned $0.94 earnings per share. Sell-side analysts predict that DT Midstream will post 3.96 earnings per share for the current year.

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.71%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is 71.53%.

Hedge Funds Weigh In On DT Midstream

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blair William & Co. IL increased its position in shares of DT Midstream by 4.0% during the first quarter. Blair William & Co. IL now owns 6,258 shares of the company’s stock worth $382,000 after acquiring an additional 243 shares during the last quarter. Seven Eight Capital LP purchased a new position in DT Midstream in the first quarter valued at about $232,000. Quadrature Capital Ltd grew its stake in DT Midstream by 7.9% during the 1st quarter. Quadrature Capital Ltd now owns 7,149 shares of the company’s stock valued at $437,000 after purchasing an additional 522 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in DT Midstream during the 1st quarter worth approximately $73,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of DT Midstream by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 46,864 shares of the company’s stock valued at $2,864,000 after purchasing an additional 2,997 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

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.