DT Midstream, Inc. (NYSE:DTM) Receives $103.45 Average Target Price from Analysts

DT Midstream, Inc. (NYSE:DTM) has received an average recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $105.08.

Several equities research analysts recently weighed in on DTM shares. JPMorgan Chase & Co. boosted their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. UBS Group raised their price objective on DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday. Williams Trading set a $110.00 price target on DT Midstream in a report on Monday. Raymond James boosted their price objective on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company dropped their price target on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, February 28th.

Insider Buying and Selling at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, March 10th. The stock was bought 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 owns 38,653 shares in the company, valued at $3,359,718.76. The trade was a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders have bought 1,170 shares of company stock worth $103,357. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DT Midstream

Large investors have recently made changes to their positions in the company. Blackstone Inc. increased its stake in shares of DT Midstream by 2,783.1% in the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock valued at $162,199,000 after purchasing an additional 1,574,705 shares in the last quarter. Norges Bank acquired a new position in shares of DT Midstream during the 4th quarter worth about $119,520,000. FMR LLC increased its stake in DT Midstream by 1,476.9% during the 3rd quarter. FMR LLC now owns 805,950 shares of the company’s stock worth $63,396,000 after buying an additional 754,839 shares in the last quarter. Zimmer Partners LP acquired a new position in shares of DT Midstream during the fourth quarter valued at approximately $74,572,000. Finally, Brookfield Corp ON lifted its position in shares of DT Midstream by 171.3% in the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after acquiring an additional 655,695 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Stock Down 0.1 %

DTM opened at $96.89 on Wednesday. The company has a market capitalization of $9.84 billion, a PE ratio of 23.57 and a beta of 0.80. The firm has a 50-day simple moving average of $99.03 and a two-hundred day simple moving average of $95.75. 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 has a 52 week low of $60.54 and a 52 week high of $114.50.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $0.82 dividend. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. 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 3.39%. DT Midstream’s dividend payout ratio (DPR) is 91.11%.

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.