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

Bank of America began coverage on shares of DT Midstream (NYSE:DTM) in a report published on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $110.00 price target on the stock.

Several other equities research analysts have also commented on the company. Barclays lowered their price objective on DT Midstream from $112.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Stifel Nicolaus cut their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Wells Fargo & Company decreased their price objective on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. 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 research report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, DT Midstream has an average rating of “Hold” and a consensus price target of $102.27.

DT Midstream Stock Up 4.3 %

Shares of DTM opened at $101.11 on Monday. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of 24.60 and a beta of 0.80. DT Midstream has a 52 week low of $59.00 and a 52 week high of $114.50. The stock’s 50-day moving average price is $100.02 and its 200-day moving average price is $95.39. 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 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 issued 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 positive change from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is presently 91.11%.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the transaction, the director now directly owns 38,653 shares of the company’s stock, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired 1,170 shares of company stock worth $103,357 over the last three months. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On DT Midstream

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Natixis Advisors LLC raised its holdings in shares of DT Midstream by 10.6% during the 3rd quarter. Natixis Advisors LLC now owns 24,568 shares of the company’s stock worth $1,933,000 after acquiring an additional 2,356 shares during the period. Pathstone Holdings LLC increased its position in DT Midstream by 3.3% during the third quarter. Pathstone Holdings LLC now owns 20,679 shares of the company’s stock worth $1,633,000 after purchasing an additional 668 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in DT Midstream by 30.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after purchasing an additional 267,269 shares during the period. Cerity Partners LLC boosted its holdings in DT Midstream by 29.2% in the 3rd quarter. Cerity Partners LLC now owns 13,996 shares of the company’s stock valued at $1,101,000 after purchasing an additional 3,161 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in DT Midstream in the 3rd quarter valued at about $564,000. Institutional investors and hedge funds 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.