JPMorgan Chase & Co. Issues Positive Forecast for DT Midstream (NYSE:DTM) Stock Price

DT Midstream (NYSE:DTM) had its price target increased by JPMorgan Chase & Co. from $109.00 to $115.00 in a report published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other research firms have also weighed in on DTM. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and upped their price objective for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Barclays started coverage on shares of DT Midstream in a report on Friday, January 10th. They set an “equal weight” rating and a $112.00 price objective on the stock. Stifel Nicolaus upgraded DT Midstream from a “hold” rating to a “buy” rating and increased their price objective for the company from $89.00 to $106.00 in a research report on Thursday, December 19th. Wells Fargo & Company boosted their price objective on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Morgan Stanley raised their price target on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, DT Midstream presently has a consensus rating of “Hold” and a consensus target price of $99.88.

DT Midstream Stock Performance

Shares of DTM stock opened at $111.46 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream has a 1-year low of $51.17 and a 1-year high of $114.50. The stock’s fifty day simple moving average is $104.05 and its 200-day simple moving average is $88.48. The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of 27.12 and a beta of 0.79.

DT Midstream (NYSE:DTM) last posted its earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.05). The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same period in the prior year, the firm earned $0.94 earnings per share. On average, sell-side analysts predict that DT Midstream will post 3.84 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a 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 Trading of DT Midstream

A number of hedge funds have recently bought and sold shares of DTM. UMB Bank n.a. lifted its stake in shares of DT Midstream by 324.3% during the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock valued at $25,000 after buying an additional 240 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in DT Midstream in the third quarter worth approximately $29,000. Wilmington Savings Fund Society FSB bought a new stake in DT Midstream in the third quarter worth $29,000. AdvisorNet Financial Inc lifted its position in DT Midstream by 106.7% in the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after purchasing an additional 160 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its position in DT Midstream by 93.7% during the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after buying an additional 163 shares during the period. 81.53% of the stock is currently owned by institutional investors.

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.