DT Midstream, Inc. (NYSE:DTM) Receives Average Recommendation of “Hold” from Brokerages

DT Midstream, Inc. (NYSE:DTM) has received a consensus recommendation of “Hold” from the twelve brokerages that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $103.45.

Several research analysts have commented on DTM shares. Bank of America began coverage on shares of DT Midstream in a research note on Monday. They set a “buy” rating and a $110.00 price target on the stock. Barclays lowered their price target on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating for the company in a research note on Friday, March 21st. JPMorgan Chase & Co. raised their price objective on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Wells Fargo & Company decreased their price objective on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, Stifel Nicolaus dropped their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a report on Thursday, February 27th.

DT Midstream Price Performance

Shares of DT Midstream stock opened at $100.52 on Wednesday. The firm has a market capitalization of $10.21 billion, a PE ratio of 24.46 and a beta of 0.80. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream has a 12 month low of $59.00 and a 12 month high of $114.50. The business’s 50-day moving average price is $99.86 and its 200-day moving average price is $95.57.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, March 17th. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a dividend yield of 3.26%. DT Midstream’s payout ratio is 91.11%.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was bought 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 directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders acquired 1,170 shares of company stock valued at $103,357 over the last quarter. 0.04% of the stock is owned by company insiders.

Institutional Trading of DT Midstream

Several large investors have recently bought and sold shares of the company. Natixis Advisors LLC boosted its position in shares of DT Midstream by 10.6% during the third quarter. Natixis Advisors LLC now owns 24,568 shares of the company’s stock valued at $1,933,000 after purchasing an additional 2,356 shares in the last quarter. Pathstone Holdings LLC grew its position in shares of DT Midstream by 3.3% in the 3rd quarter. Pathstone Holdings LLC now owns 20,679 shares of the company’s stock worth $1,633,000 after buying an additional 668 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of DT Midstream by 30.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after acquiring an additional 267,269 shares in the last quarter. Cerity Partners LLC lifted 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 during the period. Finally, Brown Brothers Harriman & Co. bought a new stake in DT Midstream during the third quarter worth about $564,000. 81.53% of the stock is owned by institutional investors.

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.