DT Midstream (NYSE:DTM) Price Target Cut to $108.00 by Analysts at Wells Fargo & Company

DT Midstream (NYSE:DTM) 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 firm currently has an overweight rating on the stock.

Several other research analysts have also recently commented on the company. Raymond James boosted their target price on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Barclays initiated coverage on DT Midstream in a research report on Friday, January 10th. They set an “equal weight” rating and a $112.00 price objective for the company. Stifel Nicolaus reduced their target price on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and increased their target price for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $102.00.

DT Midstream Stock Performance

NYSE:DTM opened at $96.03 on Friday. DT Midstream has a 52 week low of $57.12 and a 52 week high of $114.50. The company has a fifty day simple moving average of $102.63 and a two-hundred day simple moving average of $93.12. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 23.37 and a beta of 0.79.

DT Midstream Increases Dividend

The firm 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 $0.82 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a yield of 3.42%. DT Midstream’s payout ratio is currently 71.53%.

Institutional Trading of DT Midstream

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates increased its stake in shares of DT Midstream by 68.4% during the third quarter. Raymond James & Associates now owns 30,554 shares of the company’s stock worth $2,403,000 after acquiring an additional 12,406 shares during the period. Private Advisor Group LLC grew its position in DT Midstream by 27.1% during the third quarter. Private Advisor Group LLC now owns 4,695 shares of the company’s stock worth $369,000 after buying an additional 1,000 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in DT Midstream by 8.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,320 shares of the company’s stock valued at $733,000 after buying an additional 748 shares in the last quarter. Princeton Global Asset Management LLC lifted its position in shares of DT Midstream by 8.6% during the 3rd 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 period. Finally, Van ECK Associates Corp boosted its stake in shares of DT Midstream by 18.6% during the 3rd quarter. Van ECK Associates Corp now owns 33,239 shares of the company’s stock worth $2,898,000 after acquiring an additional 5,208 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

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.