DT Midstream (NYSE:DTM) Now Covered by Analysts at Bank of America

Bank of America assumed coverage on shares of DT Midstream (NYSE:DTM) in a research note released on Monday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $110.00 price objective on the stock.

A number of other research firms have also recently weighed in on DTM. Raymond James increased their price objective 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. JPMorgan Chase & Co. raised their target price on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. UBS Group started coverage on shares of DT Midstream in a research note on Wednesday, March 12th. They set a “buy” rating and a $102.00 price target on the stock. The Goldman Sachs Group raised their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company dropped their price target on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, DT Midstream has a consensus rating of “Hold” and an average target price of $102.27.

DT Midstream Trading Up 4.3 %

NYSE DTM opened at $101.11 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. The stock has a market capitalization of $10.27 billion, a P/E ratio of 24.60 and a beta of 0.80. The firm’s 50-day moving average is $100.02 and its two-hundred day moving average is $95.39. DT Midstream has a 12 month low of $59.00 and a 12 month high of $114.50.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.24%. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio is currently 91.11%.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $86.92 per share, with a total value of $86,920.00. Following the purchase, the director now owns 38,653 shares of the company’s stock, valued at $3,359,718.76. This represents a 2.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired a total of 1,170 shares of company stock worth $103,357 in the last 90 days. 0.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its holdings in DT Midstream by 225.4% in the third quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock valued at $11,449,000 after purchasing an additional 100,825 shares during the last quarter. Friedenthal Financial acquired a new stake in DT Midstream in the 4th quarter valued at about $764,000. Truist Financial Corp purchased a new position in DT Midstream during the 4th quarter valued at about $771,000. Bridgewater Associates LP increased its holdings in DT Midstream by 57.6% during the 3rd quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock valued at $14,576,000 after acquiring an additional 67,725 shares in the last quarter. Finally, State Street Corp raised its position in DT Midstream by 6.4% during the third 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 during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

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.