DT Midstream (NYSE:DTM) Price Target Raised to $105.00

DT Midstream (NYSE:DTM) had its target price boosted by Morgan Stanley from $92.00 to $105.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

A number of other analysts also recently issued reports on DTM. Bank of America started coverage on DT Midstream in a research report on Monday. They set a “buy” rating and a $110.00 price target for the company. JPMorgan Chase & Co. lifted their target price on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Wells Fargo & Company lowered their price objective on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Raymond James upped their target price on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Stifel Nicolaus reduced their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $105.08.

DT Midstream Trading Down 1.1 %

Shares of DTM stock opened at $97.15 on Tuesday. The company has a market capitalization of $9.87 billion, a PE ratio of 23.64 and a beta of 0.80. DT Midstream has a 52-week low of $59.50 and a 52-week high of $114.50. The business’s fifty day moving average is $99.35 and its 200 day moving average is $95.60. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

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 given a $0.82 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 annualized dividend and a yield of 3.38%. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio is presently 91.11%.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have bought 1,170 shares of company stock worth $103,357. Insiders own 0.21% of the company’s stock.

Institutional Trading of DT Midstream

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Natixis Advisors LLC raised its holdings in DT Midstream by 10.6% in the 3rd quarter. Natixis Advisors LLC now owns 24,568 shares of the company’s stock worth $1,933,000 after purchasing an additional 2,356 shares in the last quarter. Pathstone Holdings LLC raised its stake in DT Midstream by 3.3% in the third quarter. Pathstone Holdings LLC now owns 20,679 shares of the company’s stock worth $1,633,000 after buying an additional 668 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in DT Midstream by 30.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after buying an additional 267,269 shares during the period. Cerity Partners LLC boosted its position in DT Midstream by 29.2% during the 3rd quarter. Cerity Partners LLC now owns 13,996 shares of the company’s stock valued at $1,101,000 after acquiring an additional 3,161 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of DT Midstream during the 3rd quarter worth approximately $564,000. 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.