Barclays Raises DT Midstream (NYSE:DTM) Price Target to $85.00

by · The Cerbat Gem

DT Midstream (NYSE:DTM – Free Report) had its price target raised by Barclays from $76.00 to $85.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on DTM. Citigroup raised their price target on shares of DT Midstream from $62.00 to $76.00 and gave the company a neutral rating in a research note on Wednesday, September 4th. Wells Fargo & Company raised their target price on shares of DT Midstream from $77.00 to $87.00 and gave the company an overweight rating in a research report on Wednesday, July 31st. Stifel Nicolaus upped their price target on shares of DT Midstream from $70.00 to $78.00 and gave the stock a buy rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on DT Midstream from $75.00 to $78.00 and gave the company a neutral rating in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $73.00.

Check Out Our Latest Stock Analysis on DTM

DT Midstream Stock Up 1.6 %

Shares of DTM opened at $84.05 on Thursday. The firm has a 50 day simple moving average of $76.31 and a two-hundred day simple moving average of $69.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. DT Midstream has a one year low of $51.17 and a one year high of $84.18. The company has a market cap of $8.16 billion, a P/E ratio of 20.50 and a beta of 0.74.

DT Midstream (NYSE:DTM – Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.06. The business had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same period in the prior year, the company earned $0.93 EPS. Research analysts forecast that DT Midstream will post 3.96 EPS for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a $0.735 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.94 annualized dividend and a dividend yield of 3.50%. DT Midstream’s dividend payout ratio is 71.71%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Family Firm Inc. acquired a new stake in shares of DT Midstream in the second quarter valued at about $26,000. Mather Group LLC. acquired a new stake in DT Midstream during the 1st quarter valued at approximately $29,000. First Command Advisory Services Inc. acquired a new stake in DT Midstream during the 2nd quarter valued at approximately $31,000. American National Bank raised its holdings in DT Midstream by 100.0% during the 2nd quarter. American National Bank now owns 468 shares of the company’s stock worth $33,000 after purchasing an additional 234 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of DT Midstream by 76.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company’s stock worth $46,000 after purchasing an additional 330 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

About DT Midstream

(Get Free Report)

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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