DT Midstream (NYSE:DTM) Price Target Raised to $141.00

DT Midstream (NYSE:DTM) had its target price lifted by Barclays from $119.00 to $141.00 in a research note published on Thursday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other analysts also recently issued reports on DTM. Morgan Stanley upped their price target on DT Midstream from $137.00 to $139.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 10th. Stifel Nicolaus set a $137.00 price objective on DT Midstream and gave the company a “hold” rating in a research note on Monday, February 23rd. UBS Group upped their target price on DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Bank of America increased their price target on DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Mizuho lifted their price target on shares of DT Midstream from $108.00 to $129.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $139.64.

DT Midstream Stock Performance

Shares of DTM opened at $141.67 on Thursday. The firm has a market cap of $14.41 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 2.89 and a beta of 0.75. The company’s fifty day moving average is $127.37 and its 200-day moving average is $117.41. 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.

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

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be issued a $0.88 dividend. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. DT Midstream’s payout ratio is 76.10%.

Insider Buying and Selling

In other DT Midstream news, CFO Jeffrey A. Jewell purchased 185 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was bought at an average cost of $136.33 per share, for a total transaction of $25,221.05. Following the completion of the acquisition, the chief financial officer directly owned 89,583 shares in the company, valued at $12,212,850.39. This represents a 0.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DT Midstream

A number of institutional investors and hedge funds have recently bought and sold shares of DTM. Vanguard Group Inc. grew its position in DT Midstream by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 11,351,778 shares of the company’s stock worth $1,247,674,000 after purchasing an additional 176,813 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of DT Midstream by 6.9% during the 4th quarter. Deutsche Bank AG now owns 3,090,365 shares of the company’s stock worth $369,855,000 after purchasing an additional 200,114 shares during the period. 59 North Capital Management LP raised its position in shares of DT Midstream by 49.0% during the third quarter. 59 North Capital Management LP now owns 3,074,081 shares of the company’s stock valued at $347,556,000 after buying an additional 1,010,965 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in shares of DT Midstream by 10.6% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 2,980,945 shares of the company’s stock valued at $356,759,000 after buying an additional 285,770 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of DT Midstream by 3.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,668,447 shares of the company’s stock valued at $301,695,000 after buying an additional 99,602 shares during the period. Institutional investors own 81.53% of the company’s stock.

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.