Brokerages Set DT Midstream, Inc. (NYSE:DTM) Price Target at $70.75

DT Midstream, Inc. (NYSE:DTM) has been assigned a consensus rating of “Hold” from the nine analysts that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $73.00.

A number of brokerages have recently commented on DTM. Stifel Nicolaus lifted their price target on shares of DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Citigroup raised their price objective on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Wells Fargo & Company upped their target price on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Barclays raised their price target on DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $83.44 on Wednesday. DT Midstream has a one year low of $51.17 and a one year high of $84.18. The stock has a market cap of $8.10 billion, a PE ratio of 20.35 and a beta of 0.74. The business’s fifty day moving average price is $76.68 and its two-hundred day moving average price is $70.34. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The firm had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. During the same quarter last year, the business posted $0.93 EPS. On average, analysts forecast that DT Midstream will post 3.96 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Monday, September 16th. DT Midstream’s dividend payout ratio is currently 71.71%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. TD Asset Management Inc lifted its stake in DT Midstream by 8.5% during the fourth quarter. TD Asset Management Inc now owns 35,600 shares of the company’s stock worth $1,951,000 after purchasing an additional 2,800 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of DT Midstream by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 43,036 shares of the company’s stock valued at $2,358,000 after buying an additional 420 shares during the period. TFO Wealth Partners LLC grew its position in shares of DT Midstream by 49,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,976 shares of the company’s stock valued at $108,000 after buying an additional 1,972 shares during the last quarter. First Trust Advisors LP raised its stake in DT Midstream by 284.6% during the fourth quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock worth $83,537,000 after acquiring an additional 1,128,056 shares during the period. Finally, Azimuth Capital Investment Management LLC lifted its holdings in DT Midstream by 3.4% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 6,289 shares of the company’s stock worth $345,000 after acquiring an additional 209 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.