DT Midstream (NYSE:DTM) Price Target Cut to $107.00 by Analysts at Barclays

DT Midstream (NYSE:DTM - Free Report) had its price objective reduced by Barclays from $112.00 to $107.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts also recently issued reports about the company. The Goldman Sachs Group increased their price target on DT Midstream from $74.00 to $94.00 and gave the stock a "sell" rating in a report on Thursday, December 19th. Stifel Nicolaus decreased their price target on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company cut their price objective on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Raymond James increased their price target on shares of DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. upped their target price 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $103.45.

Remove Ads

DT Midstream Stock Performance

NYSE DTM traded down $0.17 during trading on Friday, reaching $100.83. The company's stock had a trading volume of 335,427 shares, compared to its average volume of 788,360. DT Midstream has a twelve month low of $59.00 and a twelve month high of $114.50. The firm has a market cap of $10.24 billion, a price-to-earnings ratio of 24.52 and a beta of 0.80. The business's fifty day moving average price is $100.02 and its 200-day moving average price is $95.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

DT Midstream Increases Dividend

The business also recently disclosed 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 3.25%. The ex-dividend date is Monday, March 17th. DT Midstream's dividend payout ratio is presently 91.11%.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company's stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $86.92 per share, for a total transaction 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 $3,359,718.76. The trade was a 2.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders purchased 1,170 shares of company stock worth $103,357. 0.04% of the stock is owned by company insiders.

Institutional Trading of DT Midstream

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in DT Midstream by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock worth $1,049,363,000 after buying an additional 359,017 shares during the period. State Street Corp boosted its position in DT Midstream by 6.4% during the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company's stock worth $268,757,000 after purchasing an additional 202,447 shares during the period. Deutsche Bank AG raised its position in DT Midstream by 5.5% in the fourth quarter. Deutsche Bank AG now owns 2,831,830 shares of the company's stock valued at $281,569,000 after purchasing an additional 147,790 shares during the period. Geode Capital Management LLC lifted its stake in shares of DT Midstream by 18.7% during the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock worth $243,948,000 after purchasing an additional 386,670 shares in the last quarter. Finally, Blackstone Inc. boosted its position in shares of DT Midstream by 2,783.1% in the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock worth $162,199,000 after buying an additional 1,574,705 shares during the period. Hedge funds and other 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.