DT Midstream (NYSE:DTM) Given New $76.00 Price Target at Citigroup

DT Midstream (NYSE:DTM) had its target price raised by Citigroup from $62.00 to $76.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of DT Midstream from $70.00 to $78.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. Barclays upped their price objective on shares of DT Midstream from $66.00 to $72.00 and gave the stock an overweight rating in a research report on Wednesday, July 17th. Wells Fargo & Company upped their price objective on shares of DT Midstream from $77.00 to $87.00 and gave the stock an overweight rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $75.00 to $78.00 and gave the company a neutral rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $70.75.

DT Midstream Trading Down 2.2 %

Shares of DT Midstream stock opened at $75.12 on Wednesday. DT Midstream has a 12-month low of $50.88 and a 12-month high of $78.83. The company has a market cap of $7.29 billion, a price-to-earnings ratio of 18.32 and a beta of 0.74. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average price is $73.77 and its 200-day moving average price is $67.07.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.06. The company had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $236.83 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same period in the prior year, the business earned $0.93 earnings per share. On average, equities analysts expect that DT Midstream will post 3.96 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date is Monday, September 16th. DT Midstream’s payout ratio is currently 71.71%.

Institutional Trading of DT Midstream

Institutional investors have recently made changes to their positions in the stock. Family Firm Inc. purchased a new stake in shares of DT Midstream during the second quarter valued at approximately $26,000. First Command Advisory Services Inc. purchased a new stake in shares of DT Midstream during the second quarter valued at approximately $31,000. American National Bank boosted its stake in shares of DT Midstream by 100.0% during the second quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after purchasing an additional 234 shares during the period. Mather Group LLC. purchased a new stake in shares of DT Midstream during the first quarter valued at approximately $29,000. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of DT Midstream during the fourth quarter valued at approximately $32,000. Hedge funds and other 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.