Citigroup Upgrades DT Midstream (NYSE:DTM) to “Buy”

Citigroup upgraded shares of DT Midstream (NYSE:DTM) from a neutral rating to a buy rating in a report published on Thursday, Marketbeat Ratings reports. The brokerage currently has $115.00 price target on the stock, up from their previous price target of $90.00.

Other research analysts have also issued reports about the stock. Barclays raised their target price on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Morgan Stanley lifted their target price on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Stifel Nicolaus downgraded shares of DT Midstream from a “buy” rating to a “hold” rating and boosted their price target for the company from $78.00 to $89.00 in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their price objective 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, JPMorgan Chase & Co. boosted their target price on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $84.78.

DT Midstream Price Performance

Shares of NYSE DTM opened at $108.56 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $10.55 billion, a PE ratio of 26.41 and a beta of 0.71. DT Midstream has a one year low of $51.17 and a one year high of $109.85. The firm has a fifty day moving average of $88.36 and a 200 day moving average of $77.39.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.05). The firm had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter last year, the firm posted $0.94 earnings per share. As a group, research analysts predict that DT Midstream will post 3.96 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 2.71%. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

Hedge Funds Weigh In On DT Midstream

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Blair William & Co. IL raised its holdings in shares of DT Midstream by 4.0% in the 1st quarter. Blair William & Co. IL now owns 6,258 shares of the company’s stock valued at $382,000 after purchasing an additional 243 shares in the last quarter. Seven Eight Capital LP acquired a new position in DT Midstream during the first quarter worth $232,000. Quadrature Capital Ltd grew its position in DT Midstream by 7.9% during the first quarter. Quadrature Capital Ltd now owns 7,149 shares of the company’s stock worth $437,000 after buying an additional 522 shares during the period. Lazard Asset Management LLC acquired a new stake in DT Midstream in the first quarter valued at $73,000. Finally, Price T Rowe Associates Inc. MD raised its position in DT Midstream by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 46,864 shares of the company’s stock worth $2,864,000 after acquiring an additional 2,997 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

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.