Wells Fargo & Company Issues Positive Forecast for DT Midstream (NYSE:DTM) Stock Price

DT Midstream (NYSE:DTM) had its target price raised by Wells Fargo & Company from $87.00 to $100.00 in a report published on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

DTM has been the subject of a number of other research reports. Citigroup upped their price target on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Morgan Stanley upped their target price on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Stifel Nicolaus lowered DT Midstream from a “buy” rating to a “hold” rating and raised their price objective for the company from $78.00 to $89.00 in a research report on Wednesday, October 30th. Finally, Barclays boosted their target price on DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $80.38.

DT Midstream Stock Performance

Shares of NYSE DTM opened at $88.96 on Thursday. DT Midstream has a 52-week low of $51.17 and a 52-week high of $91.50. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm’s 50-day moving average price is $81.36 and its 200-day moving average price is $73.46. The company has a market cap of $8.64 billion, a PE ratio of 21.64 and a beta of 0.71.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. During the same quarter last year, the company earned $0.94 EPS. As a group, analysts anticipate that DT Midstream will post 3.96 EPS for the current year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 annualized dividend and a yield of 3.30%. DT Midstream’s payout ratio is presently 71.53%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Prevail Innovative Wealth Advisors LLC boosted its position in shares of DT Midstream by 37.9% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company’s stock valued at $2,316,000 after buying an additional 10,418 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of DT Midstream by 137.6% during the first quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock valued at $1,840,000 after buying an additional 17,437 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of DT Midstream in the 1st quarter valued at about $1,085,000. Cetera Investment Advisers increased its holdings in DT Midstream by 1,223.2% during the first quarter. Cetera Investment Advisers now owns 54,107 shares of the company’s stock valued at $3,306,000 after buying an additional 50,018 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in DT Midstream by 15.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock valued at $8,657,000 after acquiring an additional 16,171 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

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.