DT Midstream, Inc. (NYSE:DTM) Receives Average Rating of “Hold” from Brokerages

Shares of DT Midstream, Inc. (NYSE:DTM) have been given a consensus recommendation of “Hold” by the twelve brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $105.08.

Several research analysts have weighed in on the company. Raymond James boosted their price objective on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group lifted their target price on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Barclays reduced their price target on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Stifel Nicolaus lowered their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Morgan Stanley increased their target price on shares of DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a research report on Tuesday, March 25th.

DT Midstream Price Performance

DT Midstream stock opened at $96.89 on Wednesday. The stock has a market cap of $9.84 billion, a P/E ratio of 23.57 and a beta of 0.80. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average price is $99.03 and its two-hundred day moving average price is $96.05. DT Midstream has a 52 week low of $60.54 and a 52 week high of $114.50.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a dividend of $0.82 per share. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream’s dividend payout ratio is presently 91.11%.

Insider Activity at DT Midstream

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction that occurred on 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 acquisition, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders acquired 1,170 shares of company stock worth $103,357. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Natixis Advisors LLC boosted its holdings in DT Midstream by 10.6% in the 3rd quarter. Natixis Advisors LLC now owns 24,568 shares of the company’s stock valued at $1,933,000 after purchasing an additional 2,356 shares during the period. Pathstone Holdings LLC raised its position in shares of DT Midstream by 3.3% in the third quarter. Pathstone Holdings LLC now owns 20,679 shares of the company’s stock worth $1,633,000 after buying an additional 668 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in DT Midstream by 30.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock valued at $90,978,000 after buying an additional 267,269 shares during the period. Cerity Partners LLC grew its position in DT Midstream by 29.2% during the third quarter. Cerity Partners LLC now owns 13,996 shares of the company’s stock worth $1,101,000 after buying an additional 3,161 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in DT Midstream during the third quarter worth about $564,000. Hedge funds and other institutional investors 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.