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

Shares of DT Midstream, Inc. (NYSE:DTM) have earned an average rating of “Hold” from the ten ratings firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $102.00.

DTM has been the subject of a number of analyst reports. Barclays assumed coverage on DT Midstream in a research note on Friday, January 10th. They issued an “equal weight” rating and a $112.00 price target for the company. Raymond James boosted their target price 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. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and boosted their target price for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. The Goldman Sachs Group boosted their target price on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus dropped their target price on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Thursday, February 27th.

Institutional Investors Weigh In On DT Midstream

Several hedge funds have recently modified their holdings of DTM. Brooklyn FI LLC bought a new position in DT Midstream in the fourth quarter valued at about $463,000. Jefferies Financial Group Inc. acquired a new position in shares of DT Midstream in the fourth quarter valued at approximately $242,000. Bernard Wealth Management Corp. bought a new position in DT Midstream in the 4th quarter valued at approximately $1,663,000. WNY Asset Management LLC acquired a new stake in DT Midstream during the 4th quarter worth approximately $217,000. Finally, Forum Financial Management LP grew its holdings in DT Midstream by 5.1% during the 4th quarter. Forum Financial Management LP now owns 3,391 shares of the company’s stock worth $337,000 after acquiring an additional 165 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Price Performance

Shares of NYSE DTM opened at $88.16 on Friday. The business has a fifty day moving average price of $101.91 and a two-hundred day moving average price of $93.63. The stock has a market capitalization of $8.94 billion, a PE ratio of 21.45 and a beta of 0.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream has a fifty-two week low of $57.16 and a fifty-two week high of $114.50.

DT Midstream Increases Dividend

The business also recently announced 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 3.72%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio is presently 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.