Barclays Issues Pessimistic Forecast for DT Midstream (NYSE:DTM) Stock Price

DT Midstream (NYSE:DTM) had its price target lowered by Barclays from $112.00 to $107.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

DTM has been the topic of several other research reports. Stifel Nicolaus decreased their price objective on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Raymond James raised their price objective on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. UBS Group initiated coverage on DT Midstream in a research note on Wednesday, March 12th. They issued a “buy” rating and a $102.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and lifted their target price for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, DT Midstream presently has an average rating of “Hold” and an average price target of $101.50.

DT Midstream Stock Down 2.4 %

NYSE DTM opened at $96.88 on Friday. The stock’s 50-day moving average price is $100.10 and its 200-day moving average price is $95.22. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream has a 52 week low of $59.00 and a 52 week high of $114.50. The company has a market capitalization of $9.84 billion, a P/E ratio of 23.57 and a beta of 0.80.

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. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.39%. DT Midstream’s payout ratio is presently 91.11%.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction on Monday, March 10th. The shares were acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the purchase, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. The trade was a 2.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 1,170 shares of company stock valued at $103,357 in the last quarter. 0.04% of the stock is currently owned by insiders.

Institutional Trading of DT Midstream

A number of large investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in shares of DT Midstream during the 3rd quarter valued at approximately $29,000. Bessemer Group Inc. increased its position in shares of DT Midstream by 61.6% during the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock valued at $30,000 after purchasing an additional 117 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of DT Midstream by 106.7% during the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after purchasing an additional 160 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of DT Midstream by 93.7% during the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after purchasing an additional 163 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of DT Midstream during the 3rd quarter valued at approximately $40,000. Institutional investors 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.