DT Midstream (NYSE:DTM) Price Target Raised to $141.00 at Barclays

DT Midstream (NYSE:DTM) had its price target increased by Barclays from $119.00 to $141.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also recently weighed in on DTM. Stifel Nicolaus set a $137.00 price target on DT Midstream and gave the stock a “hold” rating in a report on Monday, February 23rd. Mizuho upped their target price on shares of DT Midstream from $108.00 to $129.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Wells Fargo & Company reiterated an “overweight” rating and set a $150.00 price target on shares of DT Midstream in a research report on Sunday, February 22nd. Bank of America upped their price objective on shares of DT Midstream from $118.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Jefferies Financial Group set a $148.00 target price on shares of DT Midstream and gave the company a “buy” rating in a report on Friday, February 20th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, DT Midstream has an average rating of “Hold” and an average price target of $139.64.

DT Midstream Stock Down 0.5%

Shares of NYSE DTM opened at $141.76 on Thursday. The company has a market capitalization of $14.42 billion, a P/E ratio of 32.89, a P/E/G ratio of 2.54 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. The company has a 50 day simple moving average of $126.95 and a 200-day simple moving average of $117.02. DT Midstream has a 1 year low of $83.30 and a 1 year high of $142.85.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Thursday, February 19th. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.03). The business had revenue of $317.00 million during the quarter, compared to analysts’ expectations of $320.07 million. DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.During the same quarter in the previous year, the company posted $0.94 earnings per share. On average, equities research analysts predict that DT Midstream will post 3.8 earnings per share for the current year.

DT Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 16th. DT Midstream’s dividend payout ratio (DPR) is presently 81.67%.

Insiders Place Their Bets

In other DT Midstream news, CFO Jeffrey A. Jewell bought 185 shares of DT Midstream stock in a transaction on Wednesday, February 25th. The shares were bought at an average cost of $136.33 per share, for a total transaction of $25,221.05. Following the acquisition, the chief financial officer directly owned 89,583 shares in the company, valued at $12,212,850.39. This represents a 0.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DT Midstream

Institutional investors have recently modified their holdings of the business. 59 North Capital Management LP acquired a new stake in shares of DT Midstream in the second quarter valued at $226,757,000. Norges Bank purchased a new stake in DT Midstream during the 2nd quarter worth about $143,743,000. Merewether Investment Management LP raised its position in DT Midstream by 192.4% in the 3rd quarter. Merewether Investment Management LP now owns 1,000,600 shares of the company’s stock valued at $113,128,000 after purchasing an additional 658,400 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of DT Midstream in the 3rd quarter valued at about $43,347,000. Finally, Holocene Advisors LP boosted its stake in shares of DT Midstream by 117.7% in the 3rd quarter. Holocene Advisors LP now owns 554,059 shares of the company’s stock valued at $62,642,000 after buying an additional 299,609 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

About DT Midstream

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.