Wells Fargo & Company Issues Pessimistic Forecast for DT Midstream (NYSE:DTM) Stock Price

DT Midstream (NYSE:DTM - Free Report) had its price target lowered by Wells Fargo & Company from $118.00 to $108.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also weighed in on DTM. Stifel Nicolaus dropped 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. The Goldman Sachs Group upped their price target on shares of DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a research note on Thursday, December 19th. Barclays started coverage on shares of DT Midstream in a research note on Friday, January 10th. They set an "equal weight" rating and a $112.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Finally, Citigroup raised DT Midstream from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $90.00 to $115.00 in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $102.00.

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DT Midstream Stock Down 1.4 %

Shares of DTM stock traded down $1.29 during trading hours on Friday, reaching $93.30. 1,459,015 shares of the company's stock were exchanged, compared to its average volume of 731,641. DT Midstream has a fifty-two week low of $57.16 and a fifty-two week high of $114.50. The stock's 50 day moving average is $102.49 and its 200-day moving average is $93.53. 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 market cap of $9.46 billion, a price-to-earnings ratio of 22.70 and a beta of 0.79.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.52%. This is a positive change from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio (DPR) is presently 91.11%.

Institutional Trading of DT Midstream

Hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in DT Midstream in the third quarter valued at approximately $29,000. Bessemer Group Inc. increased its holdings in shares of 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 in the last quarter. AdvisorNet Financial Inc increased its holdings in shares of DT Midstream by 106.7% during the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock valued at $31,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC lifted its stake in shares of DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock valued at $34,000 after purchasing an additional 163 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in DT Midstream during the third quarter worth $40,000. Hedge funds and other institutional investors own 81.53% of the company's stock.

About DT Midstream

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.