DT Midstream (NYSE:DTM - Free Report) had its price objective lowered by Barclays from $112.00 to $107.00 in a research note published on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.
A number of other research firms also recently commented on DTM. Wells Fargo & Company dropped their price target on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Citigroup raised shares of DT Midstream from a "neutral" rating to a "buy" rating and raised their target price for the company from $90.00 to $115.00 in a report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Stifel Nicolaus lowered their price objective on shares of DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, Raymond James boosted their target price on shares of DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. 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. According to MarketBeat.com, DT Midstream has an average rating of "Hold" and a consensus target price of $102.27.
Read Our Latest Analysis on DTM
DT Midstream Price Performance
Shares of NYSE:DTM traded up $4.13 during midday trading on Friday, reaching $101.11. 1,395,008 shares of the company were exchanged, compared to its average volume of 788,473. The stock has a market cap of $10.27 billion, a PE ratio of 24.60 and a beta of 0.80. The business's fifty day moving average is $100.10 and its two-hundred day moving average is $95.22. DT Midstream has a one year low of $59.00 and a one year high of $114.50. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.
DT Midstream Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a dividend of $0.82 per share. This is an increase from DT Midstream's previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.24%. DT Midstream's dividend payout ratio is presently 91.11%.
Insider Activity at DT Midstream
In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the purchase, the director now directly owns 38,653 shares of the company's stock, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 1,170 shares of company stock worth $103,357 over the last three months. 0.04% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its position in DT Midstream by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company's stock valued at $2,685,000 after purchasing an additional 100 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of DT Midstream by 15.0% during the fourth quarter. Jones Financial Companies Lllp now owns 768 shares of the company's stock valued at $76,000 after buying an additional 100 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of DT Midstream by 17.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company's stock valued at $69,000 after buying an additional 105 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of DT Midstream by 1.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company's stock worth $1,235,000 after buying an additional 116 shares during the last quarter. Finally, Lakeshore Financial Planning Inc. raised its stake in shares of DT Midstream by 4.2% during the 4th quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company's stock worth $285,000 after acquiring an additional 116 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.
About DT Midstream
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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.
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