DT Midstream (NYSE:DTM) Price Target Raised to $142.00

DT Midstream (NYSE:DTM) had its price objective boosted by JPMorgan Chase & Co. from $126.00 to $142.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also recently issued reports on DTM. Barclays lifted their price objective on shares of DT Midstream from $119.00 to $141.00 and gave the company an “equal weight” rating in a research note on Thursday. Jefferies Financial Group set a $148.00 target price on DT Midstream and gave the stock a “buy” rating in a research note on Friday, February 20th. Bank of America raised their target price on DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, January 21st. Finally, Morgan Stanley boosted their price target on DT Midstream from $137.00 to $139.00 and gave the stock an “underweight” rating in a report on Tuesday, February 10th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $139.64.

DT Midstream Trading Down 0.1%

Shares of DT Midstream stock opened at $141.67 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. DT Midstream has a 12-month low of $83.30 and a 12-month high of $143.15. The company has a market capitalization of $14.41 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 2.89 and a beta of 0.75. The firm’s 50-day moving average price is $127.37 and its two-hundred day moving average price is $117.41.

DT Midstream (NYSE:DTM) last issued its earnings results on Thursday, February 19th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.03). DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. The firm had revenue of $317.00 million during the quarter, compared to analyst estimates of $320.07 million. During the same quarter in the previous year, the firm posted $0.94 earnings per share. On average, analysts forecast that DT Midstream will post 3.8 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be given a dividend of $0.88 per share. The ex-dividend date is Monday, March 16th. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.82. DT Midstream’s dividend payout ratio is currently 76.10%.

Insider Buying and Selling

In related news, CFO Jeffrey A. Jewell bought 185 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were purchased at an average price of $136.33 per share, for a total transaction of $25,221.05. Following the completion of the transaction, the chief financial officer directly owned 89,583 shares of the company’s stock, valued at approximately $12,212,850.39. This represents a 0.21% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DTM. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of DT Midstream during the 4th quarter valued at $30,000. Rehmann Capital Advisory Group increased its holdings in DT Midstream by 36.6% in the 4th quarter. Rehmann Capital Advisory Group now owns 2,876 shares of the company’s stock worth $344,000 after purchasing an additional 770 shares in the last quarter. Alpine Global Management LLC bought a new position in DT Midstream in the fourth quarter valued at about $239,000. Invesco Ltd. raised its position in DT Midstream by 4.7% in the fourth quarter. Invesco Ltd. now owns 1,045,754 shares of the company’s stock valued at $125,156,000 after purchasing an additional 47,030 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of DT Midstream by 16.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,802 shares of the company’s stock valued at $1,891,000 after purchasing an additional 2,249 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Company Profile

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.