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

Shares of DT Midstream, Inc. (NYSE:DTM) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $104.67.

A number of research firms have recently weighed in on DTM. 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 price target on the stock. JPMorgan Chase & Co. increased their price objective on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Morgan Stanley raised their price objective on DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a research note on Tuesday, March 25th. Wells Fargo & Company decreased their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, Williams Trading set a $110.00 price target on shares of DT Midstream in a research report on Monday, March 24th.

DT Midstream Trading Up 1.3 %

NYSE:DTM opened at $96.84 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $9.84 billion, a P/E ratio of 23.56 and a beta of 0.77. The stock’s 50 day moving average price is $95.35 and its 200 day moving average price is $97.61. DT Midstream has a 52 week low of $61.01 and a 52 week high of $114.50.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were given a dividend of $0.82 per share. The ex-dividend date was Monday, March 17th. 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%. DT Midstream’s payout ratio is currently 91.11%.

Insider Buying and Selling

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased 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 directly 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 Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On DT Midstream

Several hedge funds and other institutional investors have recently modified their holdings of DTM. Friedenthal Financial bought a new position in shares of DT Midstream during the fourth quarter valued at $764,000. Truist Financial Corp acquired a new position in DT Midstream in the fourth quarter valued at about $771,000. Thrivent Financial for Lutherans grew its stake in DT Midstream by 55.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the company’s stock worth $3,536,000 after buying an additional 12,755 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of DT Midstream by 53.2% during the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after buying an additional 167 shares in the last quarter. Finally, Atria Investments Inc raised its stake in shares of DT Midstream by 82.0% in the fourth quarter. Atria Investments Inc now owns 15,412 shares of the company’s stock valued at $1,532,000 after acquiring an additional 6,946 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

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.