DT Midstream, Inc. (NYSE:DTM) Receives $84.78 Average PT from Brokerages

Shares of DT Midstream, Inc. (NYSE:DTM) have earned an average recommendation of “Hold” from the ten research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $84.78.

A number of research firms have commented on DTM. JPMorgan Chase & Co. boosted their target price on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. Wells Fargo & Company boosted their target price on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group increased their price target on shares of DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus lowered DT Midstream from a “buy” rating to a “hold” rating and upped their price objective for the stock from $78.00 to $89.00 in a research note on Wednesday, October 30th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in DT Midstream by 225.4% in the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock worth $11,449,000 after purchasing an additional 100,825 shares in the last quarter. Atria Investments Inc purchased a new stake in shares of DT Midstream in the third quarter worth about $666,000. Bridgewater Associates LP boosted its stake in DT Midstream by 57.6% during the third quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock valued at $14,576,000 after buying an additional 67,725 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in DT Midstream by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock valued at $90,978,000 after buying an additional 267,269 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in DT Midstream by 15.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock valued at $8,657,000 after buying an additional 16,171 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Trading Down 3.3 %

Shares of NYSE:DTM opened at $95.41 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream has a 1 year low of $51.17 and a 1 year high of $109.85. The company has a market cap of $9.27 billion, a P/E ratio of 23.21 and a beta of 0.77. The stock’s fifty day moving average price is $96.38 and its 200-day moving average price is $81.83.

DT Midstream (NYSE:DTM) last posted its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). The company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter in the prior year, the company posted $0.94 EPS. Sell-side analysts expect that DT Midstream will post 3.84 earnings per share for the current year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 3.08%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio is currently 71.53%.

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.