DT Midstream (NYSE:DTM) Price Target Raised to $115.00

DT Midstream (NYSE:DTM) had its price objective lifted by UBS Group from $102.00 to $115.00 in a research report report published on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. 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. The Goldman Sachs Group increased 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. Bank of America began coverage on shares of DT Midstream in a report on Monday, March 24th. They set a “buy” rating and a $110.00 target price on the stock. Williams Trading set a $110.00 price target on DT Midstream in a report on Monday, March 24th. Finally, Wells Fargo & Company reduced their price objective on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $105.08.

DT Midstream Stock Performance

Shares of NYSE:DTM opened at $96.89 on Thursday. The business has a 50-day moving average of $99.03 and a two-hundred day moving average of $95.90. The firm has a market capitalization of $9.84 billion, a PE ratio of 23.57 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 12 month low of $60.54 and a 12 month high of $114.50.

DT Midstream Increases Dividend

The firm 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 yield of 3.39%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is 91.11%.

Insiders Place Their Bets

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the transaction, the director now owns 38,653 shares of the company’s stock, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 1,170 shares of company stock worth $103,357 in the last three months. 0.21% of the stock is owned by insiders.

Institutional Trading of DT Midstream

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of DT Midstream by 225.4% in the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock valued at $11,449,000 after acquiring an additional 100,825 shares during the last quarter. Friedenthal Financial bought a new stake in DT Midstream during the fourth quarter valued at $764,000. Truist Financial Corp acquired a new stake in shares of DT Midstream during the fourth quarter worth $771,000. Bridgewater Associates LP raised its holdings in shares of DT Midstream by 57.6% during the third quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock worth $14,576,000 after purchasing an additional 67,725 shares during the period. Finally, State Street Corp lifted its position in shares of DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after buying an additional 202,447 shares during the last quarter. Institutional investors and hedge funds 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.