DT Midstream (NYSE:DTM) Given New $100.00 Price Target at Wells Fargo & Company

DT Midstream (NYSE:DTM) had its price target lifted by Wells Fargo & Company from $87.00 to $100.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus cut shares of DT Midstream from a “buy” rating to a “hold” rating and boosted their target price for the company from $78.00 to $89.00 in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Citigroup upped their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Barclays upped their price objective on shares of DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Finally, Morgan Stanley upped their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned 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 $80.38.

DT Midstream Trading Down 0.8 %

Shares of DT Midstream stock opened at $90.17 on Thursday. The firm has a 50-day moving average of $81.11 and a 200-day moving average of $73.19. The stock has a market cap of $8.76 billion, a PE ratio of 21.94 and a beta of 0.74. DT Midstream has a 52-week low of $51.17 and a 52-week high of $91.50. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.95.

DT Midstream (NYSE:DTM) last announced its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same period in the previous year, the firm posted $0.94 EPS. As a group, sell-side analysts forecast that DT Midstream will post 3.96 EPS for the current year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a $0.735 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.26%. DT Midstream’s dividend payout ratio (DPR) is currently 71.53%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. lifted its holdings in shares of DT Midstream by 324.3% in the third quarter. UMB Bank n.a. now owns 314 shares of the company’s stock worth $25,000 after acquiring an additional 240 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of DT Midstream in the third quarter valued at approximately $29,000. Family Firm Inc. acquired a new position in shares of DT Midstream in the second quarter valued at approximately $26,000. First Command Advisory Services Inc. acquired a new position in shares of DT Midstream in the second quarter valued at approximately $31,000. Finally, American National Bank increased its stake in shares of DT Midstream by 100.0% in the second quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after buying an additional 234 shares during the period. 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.