Brokerages Set DT Midstream, Inc. (NYSE:DTM) Price Target at $61.50

Shares of DT Midstream, Inc. (NYSE:DTM) have received a consensus rating of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $61.50.

Several brokerages have issued reports on DTM. Mizuho boosted their target price on DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. US Capital Advisors lowered shares of DT Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Stifel Nicolaus raised their price objective on DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Wolfe Research raised shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, February 20th. Finally, Barclays raised their target price on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, April 5th.

Insiders Place Their Bets

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the purchase, the director now directly owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the stock in a transaction dated Monday, February 26th. The stock was acquired at an average cost of $56.87 per share, with a total value of $56,870.00. Following the completion of the transaction, the director now owns 37,289 shares in the company, valued at approximately $2,120,625.43. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jeffrey A. Jewell bought 400 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $62.80 per share, with a total value of $25,120.00. Following the purchase, the chief financial officer now owns 44,285 shares of the company’s stock, valued at $2,781,098. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by insiders.

Institutional Trading of DT Midstream

Several hedge funds have recently made changes to their positions in DTM. Dimensional Fund Advisors LP boosted its position in DT Midstream by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock worth $186,407,000 after purchasing an additional 266,433 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of DT Midstream by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,931,337 shares of the company’s stock worth $102,960,000 after purchasing an additional 39,059 shares during the period. First Trust Advisors LP increased its stake in DT Midstream by 284.6% in the fourth quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock valued at $83,537,000 after purchasing an additional 1,128,056 shares during the last quarter. Norges Bank acquired a new stake in shares of DT Midstream in the fourth quarter worth approximately $61,638,000. Finally, Reaves W H & Co. Inc. grew its holdings in DT Midstream by 5.4% in the third quarter. Reaves W H & Co. Inc. now owns 962,954 shares of the company’s stock valued at $50,960,000 after purchasing an additional 49,414 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Trading Up 0.7 %

Shares of NYSE:DTM opened at $64.06 on Friday. The company has a market cap of $6.22 billion, a PE ratio of 15.62 and a beta of 0.72. DT Midstream has a 12-month low of $45.20 and a 12-month high of $64.69. The stock has a 50 day moving average of $60.82 and a 200 day moving average of $56.90. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. The company had revenue of $240.00 million for the quarter, compared to the consensus estimate of $242.62 million. During the same period in the previous year, the firm posted $0.84 EPS. As a group, equities research analysts expect that DT Midstream will post 3.93 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Friday, June 14th. DT Midstream’s payout ratio is presently 71.71%.

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.