DT Midstream (NYSE:DTM) Price Target Raised to $115.00

DT Midstream (NYSE:DTM) had its price objective raised by JPMorgan Chase & Co. from $109.00 to $115.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also issued reports about the stock. Morgan Stanley boosted their price target on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Barclays initiated coverage on DT Midstream in a research report on Friday, January 10th. They set an “equal weight” rating and a $112.00 target price on the stock. Wells Fargo & Company raised their price target on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Stifel Nicolaus raised DT Midstream from a “hold” rating to a “buy” rating and upped their price objective for the stock from $89.00 to $106.00 in a report on Thursday, December 19th. Finally, The Goldman Sachs Group raised their target price on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, DT Midstream has an average rating of “Hold” and an average price target of $99.88.

DT Midstream Stock Performance

Shares of DTM stock opened at $111.46 on Friday. The stock’s 50-day moving average price is $104.05 and its 200 day moving average price is $88.74. 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 stock has a market capitalization of $10.83 billion, a PE ratio of 27.12 and a beta of 0.79. DT Midstream has a 52-week low of $51.17 and a 52-week high of $114.50.

DT Midstream (NYSE:DTM) last released its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The company had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same period in the previous year, the firm posted $0.94 EPS. As a group, equities research analysts forecast that DT Midstream will post 3.84 EPS for the current year.

DT Midstream Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Monday, December 16th. DT Midstream’s dividend payout ratio is currently 71.53%.

Institutional Investors Weigh In On DT Midstream

Several institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its position in DT Midstream by 15.3% during the second quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock worth $8,657,000 after acquiring an additional 16,171 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of DT Midstream by 1.7% during the 2nd quarter. Renaissance Technologies LLC now owns 60,100 shares of the company’s stock worth $4,269,000 after purchasing an additional 1,000 shares in the last quarter. AE Wealth Management LLC raised its position in shares of DT Midstream by 31.9% during the 2nd quarter. AE Wealth Management LLC now owns 6,875 shares of the company’s stock worth $488,000 after purchasing an additional 1,663 shares during the last quarter. Sei Investments Co. lifted its stake in DT Midstream by 50.6% in the 2nd quarter. Sei Investments Co. now owns 145,829 shares of the company’s stock valued at $10,358,000 after buying an additional 49,018 shares in the last quarter. Finally, Evergreen Capital Management LLC acquired a new stake in DT Midstream during the 2nd quarter valued at $221,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

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.