Brokerages Set DT Midstream, Inc. (NYSE:DTM) Target Price at $84.78

Shares of DT Midstream, Inc. (NYSE:DTM) have earned an average rating of “Hold” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $84.78.

Several analysts recently weighed in on DTM shares. Morgan Stanley increased their price target on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday, October 25th. The Goldman Sachs Group increased their target price on shares of DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. Stifel Nicolaus cut shares of DT Midstream from a “buy” rating to a “hold” rating and lifted their price target for the stock from $78.00 to $89.00 in a research note on Wednesday, October 30th. Wells Fargo & Company increased their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Barclays upped their target price on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 4th.

DT Midstream Stock Performance

DT Midstream stock opened at $95.41 on Monday. The company’s 50-day moving average price is $96.38 and its 200-day moving average price is $81.83. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a market cap of $9.27 billion, a PE ratio of 23.21 and a beta of 0.77. DT Midstream has a twelve month low of $51.17 and a twelve month high of $109.85.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share 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 return on equity of 9.31% and a net margin of 41.19%. During the same period in the previous year, the firm earned $0.94 earnings per share. On average, equities research analysts forecast that DT Midstream will post 3.84 EPS for the current fiscal year.

DT Midstream Announces Dividend

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

Institutional Trading of DT Midstream

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in DT Midstream by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock worth $312,070,000 after buying an additional 490,613 shares in the last quarter. State Street Corp raised its position in shares of DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after acquiring an additional 202,447 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of DT Midstream by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock worth $162,567,000 after purchasing an additional 85,462 shares during the last quarter. Bank of New York Mellon Corp boosted its position in DT Midstream by 3.4% during the second quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock valued at $82,870,000 after purchasing an additional 38,305 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake 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 valued at $90,978,000 after purchasing an additional 267,269 shares during the last quarter. 81.53% of the stock is currently owned by 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.