DT Midstream, Inc. (NYSE:DTM) Receives Consensus Recommendation of “Hold” from Analysts

DT Midstream, Inc. (NYSE:DTM) has been assigned a consensus rating of “Hold” from the twelve research firms that are presently covering the stock, Marketbeat.com reports. 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. The average 12 month target price among brokers that have covered the stock in the last year is $103.45.

A number of research analysts have issued reports on the company. UBS Group began coverage on DT Midstream in a research note on Wednesday, March 12th. They issued a “buy” rating and a $102.00 price objective for the company. JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. The Goldman Sachs Group lifted their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research report on Thursday, December 19th. Barclays reduced their target price on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Finally, Raymond James lifted their price target on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th.

DT Midstream Price Performance

DT Midstream stock opened at $100.52 on Wednesday. The stock has a market cap of $10.21 billion, a P/E ratio of 24.46 and a beta of 0.80. 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 company’s 50 day moving average price is $99.86 and its two-hundred day moving average price is $95.57. DT Midstream has a 52 week low of $59.00 and a 52 week high of $114.50.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.26%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. DT Midstream’s payout ratio is presently 91.11%.

Insider Buying and Selling

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, the director now directly owns 38,653 shares of the company’s stock, valued at $3,359,718.76. This trade represents a 2.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have purchased 1,170 shares of company stock valued at $103,357. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Blackstone Inc. grew its position in DT Midstream by 2,783.1% during the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock worth $162,199,000 after buying an additional 1,574,705 shares in the last quarter. Norges Bank bought a new position in shares of DT Midstream in the fourth quarter worth approximately $119,520,000. FMR LLC raised its stake in DT Midstream by 1,476.9% in the third quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after purchasing an additional 754,839 shares in the last quarter. Zimmer Partners LP bought a new stake in DT Midstream during the fourth quarter valued at approximately $74,572,000. Finally, Brookfield Corp ON grew its stake in DT Midstream by 171.3% in the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after buying an additional 655,695 shares in the last quarter. 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.