Brokerages Set DT Midstream, Inc. (NYSE:DTM) Price Target at $103.45

Shares of DT Midstream, Inc. (NYSE:DTM) have been given an average rating of “Hold” by the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $105.08.

A number of research firms have recently issued reports on DTM. Barclays cut their price objective on DT Midstream from $112.00 to $107.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Raymond James lifted their price objective on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group increased their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 19th. Williams Trading set a $110.00 target price on shares of DT Midstream in a report on Monday, March 24th. Finally, Stifel Nicolaus lowered their price target on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday, February 27th.

DT Midstream Stock Up 1.6 %

Shares of DTM stock opened at $98.00 on Wednesday. DT Midstream has a 52-week low of $61.01 and a 52-week high of $114.50. 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 stock has a market cap of $9.96 billion, a price-to-earnings ratio of 23.84 and a beta of 0.80. The firm’s 50-day moving average is $98.40 and its 200-day moving average is $96.35.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.82 per share. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream’s dividend payout ratio is 91.11%.

Insider Buying and Selling

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have purchased 1,170 shares of company stock worth $103,357. Company insiders own 0.04% of the company’s stock.

Institutional Trading of DT Midstream

Several large investors have recently made changes to their positions in the company. Blackstone Inc. boosted its holdings in shares of DT Midstream by 2,783.1% in the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock valued at $162,199,000 after purchasing an additional 1,574,705 shares in the last quarter. Norges Bank acquired a new stake in DT Midstream in the fourth quarter valued at about $119,520,000. FMR LLC grew its position in DT Midstream by 1,476.9% in the third quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after acquiring an additional 754,839 shares during the last quarter. Zimmer Partners LP acquired a new position in DT Midstream during the fourth quarter worth about $74,572,000. Finally, Brookfield Corp ON lifted its holdings in shares of DT Midstream by 171.3% in the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after acquiring an additional 655,695 shares during the last quarter. Institutional investors and hedge funds 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.