DT Midstream (NYSE:DTM) Coverage Initiated at Barclays

Barclays assumed coverage on shares of DT Midstream (NYSE:DTM - Free Report) in a report published on Friday, Marketbeat reports. The firm issued an equal weight rating and a $112.00 price target on the stock.

Several other equities research analysts also recently issued reports on the company. Stifel Nicolaus raised DT Midstream from a "hold" rating to a "buy" rating and raised their price target for the company from $89.00 to $106.00 in a research report on Thursday, December 19th. The Goldman Sachs Group increased their target price on DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a research note on Thursday, December 19th. Morgan Stanley lifted their price target on DT Midstream from $82.00 to $92.00 and gave the stock an "underweight" rating in a research report on Friday, October 25th. Citigroup upgraded DT Midstream from a "neutral" rating to a "buy" rating and upped their price target for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the stock a "neutral" rating in a research note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $91.11.

DT Midstream Stock Performance

DTM traded down $1.95 on Friday, hitting $103.81. The company had a trading volume of 817,105 shares, compared to its average volume of 748,401. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of 25.26 and a beta of 0.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company's fifty day moving average price is $101.32 and its 200 day moving average price is $85.66. DT Midstream has a 1-year low of $51.17 and a 1-year high of $109.85.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same quarter in the previous year, the firm posted $0.94 earnings per share. Equities analysts predict that DT Midstream will post 3.84 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.735 per share. The ex-dividend date is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 2.83%. DT Midstream's dividend payout ratio is currently 71.53%.

Institutional Trading of DT Midstream

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DTM. Dimensional Fund Advisors LP grew its stake in shares of DT Midstream by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company's stock valued at $312,070,000 after purchasing an additional 490,613 shares during the period. State Street Corp grew its position in DT Midstream by 6.4% in the third quarter. State Street Corp now owns 3,385,579 shares of the company's stock valued at $268,757,000 after acquiring an additional 202,447 shares during the period. Geode Capital Management LLC grew its position in DT Midstream by 4.3% in the third quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company's stock valued at $162,567,000 after acquiring an additional 85,462 shares during the period. Charles Schwab Investment Management Inc. raised its stake in DT Midstream by 30.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company's stock worth $90,978,000 after acquiring an additional 267,269 shares in the last quarter. Finally, Brookfield Corp ON lifted its holdings in shares of DT Midstream by 171.3% during the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company's stock valued at $81,689,000 after acquiring an additional 655,695 shares during the period. Institutional investors own 81.53% of the company's stock.

DT Midstream Company Profile

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.