DT Midstream (NYSE:DTM) Research Coverage Started at UBS Group

UBS Group initiated coverage on shares of DT Midstream (NYSE:DTM) in a research note released on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $102.00 price target on the stock.

A number of other equities analysts have also recently issued reports on the stock. Barclays assumed coverage on shares of DT Midstream in a research note on Friday, January 10th. They issued an “equal weight” rating and a $112.00 price target on the stock. The Goldman Sachs Group upped their price target on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and upped their target price for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Wells Fargo & Company lowered their target price on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $102.00.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $96.02 on Wednesday. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 23.36 and a beta of 0.80. The firm’s 50-day moving average is $100.78 and its 200 day moving average is $94.27. DT Midstream has a 1 year low of $57.16 and a 1 year high of $114.50. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 annualized dividend and a dividend yield of 3.42%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio is presently 91.11%.

Insider Buying and Selling

In other news, Director Robert C. Skaggs, Jr. bought 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, with a total value of $86,920.00. Following the acquisition, the director now owns 38,653 shares of the company’s stock, valued at $3,359,718.76. The trade was a 2.66 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders bought 1,170 shares of company stock valued at $103,357. 0.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DT Midstream

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DTM. Atria Investments Inc purchased a new stake in DT Midstream in the 3rd quarter worth approximately $666,000. Crossmark Global Holdings Inc. boosted its stake in DT Midstream by 18.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,138 shares of the company’s stock worth $719,000 after purchasing an additional 1,452 shares during the period. Ashton Thomas Securities LLC bought a new position in DT Midstream in the 3rd quarter worth approximately $56,000. Victory Capital Management Inc. boosted its stake in DT Midstream by 151.8% in the 3rd quarter. Victory Capital Management Inc. now owns 113,374 shares of the company’s stock worth $8,918,000 after purchasing an additional 68,350 shares during the period. Finally, Metis Global Partners LLC boosted its stake in DT Midstream by 33.5% in the 3rd quarter. Metis Global Partners LLC now owns 5,395 shares of the company’s stock worth $424,000 after purchasing an additional 1,354 shares during the period. 81.53% of the stock is owned by hedge funds and other 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.