DT Midstream (NYSE:DTM) Stock Gets Price Target Cut from Scotiabank

by · The Cerbat Gem

DT Midstream (NYSE:DTM – Free Report) had its price objective cut by Scotiabank from $165.00 to $161.00 in a research report report published on Tuesday,Benzinga reports. They currently have a sector outperform rating on the stock.

A number of other equities research analysts also recently weighed in on DTM. JPMorgan Chase & Co. lifted their target price on DT Midstream from $146.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Wolfe Research upgraded DT Midstream from a “peer perform” rating to an “outperform” rating and set a $145.00 price target on the stock in a report on Wednesday, August 26th. Wells Fargo & Company raised their price objective on shares of DT Midstream from $165.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Weiss Ratings downgraded shares of DT Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, August 21st. Finally, Morgan Stanley lowered their price objective on shares of DT Midstream from $170.00 to $164.00 and set an “overweight” rating for the company in a research note on Wednesday, October 21st. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $151.00.

Check Out Our Latest Report on DTM

DT Midstream Stock Performance

Shares of DTM opened at $113.04 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.66. The firm’s fifty day simple moving average is $124.91 and its two-hundred day simple moving average is $134.62. DT Midstream has a 12 month low of $110.62 and a 12 month high of $152.88. The stock has a market capitalization of $11.53 billion, a P/E ratio of 24.57, a price-to-earnings-growth ratio of 1.65 and a beta of 0.73.

DT Midstream (NYSE:DTM – Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.03. The firm had revenue of $336.00 million during the quarter, compared to analyst estimates of $337.63 million. DT Midstream had a return on equity of 9.59% and a net margin of 35.36%. During the same period last year, the company posted $1.13 EPS. As a group, analysts predict that DT Midstream will post 4.64 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Tuesday, December 15th will be paid a $0.88 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $3.52 annualized dividend and a dividend yield of 3.1%. DT Midstream’s dividend payout ratio (DPR) is currently 76.52%.

Institutional Trading of DT Midstream

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in DT Midstream by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 892,353 shares of the company’s stock worth $120,173,000 after buying an additional 3,689 shares in the last quarter. Bahl & Gaynor LLC raised its position in DT Midstream by 3.1% in the 3rd quarter. Bahl & Gaynor LLC now owns 637,845 shares of the company’s stock valued at $76,203,000 after buying an additional 19,374 shares during the last quarter. Chickasaw Capital Management LLC raised its position in DT Midstream by 38.0% in the 3rd quarter. Chickasaw Capital Management LLC now owns 522,558 shares of the company’s stock valued at $62,430,000 after buying an additional 143,766 shares during the last quarter. Energy Income Partners LLC lifted its stake in DT Midstream by 1.0% during the 1st quarter. Energy Income Partners LLC now owns 429,858 shares of the company’s stock valued at $57,889,000 after acquiring an additional 4,189 shares in the last quarter. Finally, Recurrent Investment Advisors LLC lifted its stake in DT Midstream by 0.4% during the 1st quarter. Recurrent Investment Advisors LLC now owns 355,156 shares of the company’s stock valued at $47,829,000 after acquiring an additional 1,370 shares in the last quarter. 81.53% of the stock is owned by institutional investors.

DT Midstream Company Profile

(Get Free Report)

DT Midstream, Inc (NYSE: DTM) is an independent North American energy company focused on the transportation, storage and gathering of natural gas. The company owns and operates interstate and intrastate pipeline systems, natural gas storage facilities, and gathering and processing infrastructure that connect producers with utilities, power generators, industrial customers and other energy markets.

DT Midstream’s operations are concentrated in the United States, including the Midwest, Northeast and Gulf Coast regions.

See Also