DT Midstream (NYSE:DTM) Upgraded to Buy at Stifel Nicolaus

Stifel Nicolaus upgraded shares of DT Midstream (NYSE:DTM - Free Report) from a hold rating to a buy rating in a research report released on Thursday morning, MarketBeat reports. They currently have $106.00 price objective on the stock, up from their prior price objective of $89.00.

Several other brokerages have also recently issued reports on DTM. Morgan Stanley lifted their price target on DT Midstream from $82.00 to $92.00 and gave the company an "underweight" rating in a research report on Friday, October 25th. The Goldman Sachs Group upped their price target on DT Midstream from $66.00 to $74.00 and gave the company a "sell" rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on DT Midstream from $78.00 to $83.00 and gave the stock a "neutral" rating in a report on Friday, October 4th. Barclays raised their target price on shares of DT Midstream from $85.00 to $92.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Finally, Citigroup upgraded shares of DT Midstream from a "neutral" rating to a "buy" rating and boosted their price target for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $88.89.

DT Midstream Price Performance

DTM traded up $2.12 on Thursday, reaching $97.53. The company had a trading volume of 1,162,401 shares, compared to its average volume of 684,196. The company has a market capitalization of $9.48 billion, a P/E ratio of 23.73 and a beta of 0.77. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average of $96.38 and a 200-day moving average of $81.83. DT Midstream has a one year low of $51.17 and a one year high of $109.85.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The company had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. During the same quarter last year, the business earned $0.94 earnings per share. As a group, equities research analysts anticipate that DT Midstream will post 3.84 earnings per share for the current year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream's payout ratio is presently 71.53%.

Institutional Investors Weigh In On DT Midstream

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in shares of DT Midstream by 16.0% during the 2nd quarter. Blue Trust Inc. now owns 1,032 shares of the company's stock worth $73,000 after purchasing an additional 142 shares in the last quarter. Caprock Group LLC raised its position in DT Midstream by 3.7% during the third quarter. Caprock Group LLC now owns 4,058 shares of the company's stock valued at $322,000 after acquiring an additional 143 shares in the last quarter. TFG Advisers LLC lifted its stake in DT Midstream by 3.1% in the third quarter. TFG Advisers LLC now owns 5,774 shares of the company's stock valued at $454,000 after acquiring an additional 172 shares during the last quarter. Princeton Global Asset Management LLC lifted its stake in DT Midstream by 8.6% in the third quarter. Princeton Global Asset Management LLC now owns 2,525 shares of the company's stock valued at $199,000 after acquiring an additional 200 shares during the last quarter. Finally, Raymond James & Associates grew its position in DT Midstream by 1.1% in the second quarter. Raymond James & Associates now owns 18,148 shares of the company's stock worth $1,289,000 after acquiring an additional 201 shares in the last quarter. 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.