Stifel Nicolaus Boosts DT Midstream (NYSE:DTM) Price Target to $70.00

DT Midstream (NYSE:DTM) had its target price lifted by Stifel Nicolaus from $62.00 to $70.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also weighed in on DTM. Wolfe Research raised DT Midstream from an underperform rating to a peer perform rating in a report on Tuesday, February 20th. Mizuho raised their price target on DT Midstream from $57.00 to $65.00 and gave the stock a neutral rating in a research report on Monday, April 29th. US Capital Advisors downgraded DT Midstream from an overweight rating to a hold rating in a research report on Monday, April 29th. Finally, Barclays increased their price objective on DT Midstream from $59.00 to $66.00 and gave the company an overweight rating in a research note on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, DT Midstream currently has an average rating of Hold and a consensus price target of $61.50.

DT Midstream Trading Up 0.5 %

Shares of DTM stock opened at $62.93 on Wednesday. DT Midstream has a twelve month low of $45.10 and a twelve month high of $64.69. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $60.57 and its two-hundred day moving average is $56.77. The company has a market capitalization of $6.11 billion, a P/E ratio of 15.35 and a beta of 0.72.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. The company had revenue of $240.00 million for the quarter, compared to analysts’ expectations of $242.62 million. During the same period in the previous year, the company posted $0.84 EPS. Equities analysts forecast that DT Midstream will post 3.93 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.94 annualized dividend and a yield of 4.67%. DT Midstream’s dividend payout ratio (DPR) is presently 71.71%.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $56.87 per share, with a total value of $56,870.00. Following the completion of the transaction, the director now owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its stake in shares of DT Midstream by 284.6% in the 4th quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock valued at $83,537,000 after purchasing an additional 1,128,056 shares in the last quarter. Norges Bank acquired a new position in DT Midstream during the fourth quarter valued at approximately $61,638,000. HITE Hedge Asset Management LLC purchased a new stake in DT Midstream during the fourth quarter worth approximately $47,462,000. Deutsche Bank AG increased its position in shares of DT Midstream by 1,176.7% in the third quarter. Deutsche Bank AG now owns 867,145 shares of the company’s stock worth $45,889,000 after acquiring an additional 799,224 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of DT Midstream by 8.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock valued at $186,407,000 after acquiring an additional 266,433 shares during the period. Institutional investors and hedge funds 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.