DT Midstream (NYSE:DTM - Free Report) had its price objective hoisted by Morgan Stanley from $92.00 to $105.00 in a report released on Tuesday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.
A number of other equities research analysts have also issued reports on DTM. Wells Fargo & Company cut their target price on DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Barclays cut their price objective on DT Midstream from $112.00 to $107.00 and set an "equal weight" rating on the stock in a report on Friday, March 21st. The Goldman Sachs Group raised their target price on shares of DT Midstream from $74.00 to $94.00 and gave the stock a "sell" rating in a report on Thursday, December 19th. Raymond James boosted 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, Bank of America began coverage on shares of DT Midstream in a research note on Monday, March 24th. They issued a "buy" rating and a $110.00 price objective for the company. Two 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $105.08.
Check Out Our Latest Research Report on DTM
DT Midstream Price Performance
DTM traded down $0.09 during trading on Tuesday, reaching $96.89. The stock had a trading volume of 1,143,944 shares, compared to its average volume of 822,409. The stock has a 50 day moving average of $99.03 and a two-hundred day moving average of $95.90. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of 23.57 and a beta of 0.80. DT Midstream has a 1-year low of $60.54 and a 1-year high of $114.50.
DT Midstream Increases Dividend
The firm also recently announced 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 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 3.39%. The ex-dividend date is Monday, March 17th. DT Midstream's payout ratio is 91.11%.
Insider Buying and Selling
In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company's stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired 1,170 shares of company stock valued at $103,357 over the last quarter. Corporate insiders own 0.21% of the company's stock.
Institutional Trading of DT Midstream
Large investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of DT Midstream in the 3rd quarter valued at $29,000. Bessemer Group Inc. lifted its holdings in DT Midstream by 61.6% during the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company's stock valued at $30,000 after purchasing an additional 117 shares during the last quarter. AdvisorNet Financial Inc boosted its position in DT Midstream by 106.7% in the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock valued at $31,000 after buying an additional 160 shares in the last quarter. Sound Income Strategies LLC grew its stake in DT Midstream by 93.7% during the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock worth $34,000 after buying an additional 163 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in DT Midstream during the third quarter worth about $40,000. 81.53% of the stock is currently owned by 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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