DT Midstream, Inc. (NYSE:DTM) Given Average Rating of “Hold” by Brokerages

DT Midstream, Inc. (NYSE:DTM) has earned an average recommendation of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $102.00.

A number of research analysts have weighed in on the company. Wells Fargo & Company reduced their price target on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday. The Goldman Sachs Group increased their price target on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Raymond James increased their price target on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Barclays began coverage on DT Midstream in a research report on Friday, January 10th. They issued an “equal weight” rating and a $112.00 target price on the stock. Finally, Stifel Nicolaus reduced their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday.

DT Midstream Trading Up 3.3 %

Shares of DT Midstream stock opened at $96.03 on Friday. DT Midstream has a fifty-two week low of $57.12 and a fifty-two week high of $114.50. The firm has a market cap of $9.33 billion, a PE ratio of 23.37 and a beta of 0.79. The business’s fifty day moving average is $102.63 and its two-hundred day moving average is $93.12. 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 3.42%. The ex-dividend date is Monday, March 17th. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio is currently 71.53%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Brooklyn FI LLC acquired a new position in shares of DT Midstream during the fourth quarter worth about $463,000. Jefferies Financial Group Inc. acquired a new position in shares of DT Midstream during the fourth quarter worth about $242,000. Bernard Wealth Management Corp. acquired a new position in shares of DT Midstream during the fourth quarter worth about $1,663,000. WNY Asset Management LLC acquired a new position in shares of DT Midstream during the fourth quarter worth about $217,000. Finally, Forum Financial Management LP lifted its stake in shares of DT Midstream by 5.1% during the fourth quarter. Forum Financial Management LP now owns 3,391 shares of the company’s stock worth $337,000 after purchasing an additional 165 shares in the last quarter. 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.