DT Midstream (NYSE:DTM) Stock Rating Raised to “Neutral” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of DT Midstream (NYSE:DTM) from a sell rating to a neutral rating in a report issued on Friday morning, MarketBeat.com reports. They currently have $127.00 target price on the stock, up from their previous target price of $121.00.

Other equities analysts have also recently issued reports about the company. Barclays lowered their price target on DT Midstream from $143.00 to $142.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Wells Fargo & Company boosted their price objective on shares of DT Midstream from $165.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Mizuho reduced their price objective on shares of DT Midstream from $153.00 to $147.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Morgan Stanley decreased their target price on shares of DT Midstream from $164.00 to $161.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 3rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $150.00 target price on shares of DT Midstream in a research note on Thursday, October 15th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $151.43.

DT Midstream Trading Up 0.1%

Shares of DT Midstream stock opened at $119.78 on Friday. The firm has a market capitalization of $12.22 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 1.68 and a beta of 0.73. DT Midstream has a fifty-two week low of $111.55 and a fifty-two week high of $152.88. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a 50 day moving average of $123.46 and a 200 day moving average of $134.51.

DT Midstream (NYSE:DTM) last posted its earnings results on Thursday, October 29th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.03. DT Midstream had a return on equity of 9.59% and a net margin of 35.36%. The company had revenue of $336.00 million during the quarter, compared to analysts’ expectations of $337.63 million. During the same quarter last year, the firm earned $1.13 earnings per share. As a group, research analysts predict that DT Midstream will post 4.65 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, December 15th will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $3.52 dividend on an annualized basis and a yield of 2.9%. DT Midstream’s payout ratio is presently 76.52%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP lifted its stake in DT Midstream by 9.5% during the 3rd quarter. Marshall Wace LLP now owns 3,262 shares of the company’s stock worth $390,000 after acquiring an additional 284 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in DT Midstream by 0.3% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 82,147 shares of the company’s stock valued at $9,814,000 after acquiring an additional 228 shares during the period. Essex Financial Services Inc. grew its position in DT Midstream by 76.2% in the 3rd quarter. Essex Financial Services Inc. now owns 2,441 shares of the company’s stock valued at $292,000 after acquiring an additional 1,056 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its position in DT Midstream by 0.5% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 647,683 shares of the company’s stock valued at $77,379,000 after acquiring an additional 3,357 shares in the last quarter. Finally, Private Advisor Group LLC grew its position in DT Midstream by 33.9% in the 3rd quarter. Private Advisor Group LLC now owns 5,377 shares of the company’s stock valued at $642,000 after acquiring an additional 1,361 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

About DT Midstream

DT Midstream is an independent natural gas infrastructure company that develops, owns and operates pipelines, gathering systems and storage facilities. Its services connect natural gas producers with utilities, power generators, industrial customers and other markets. The company’s assets include interstate pipelines and underground storage in the Midwest, as well as gathering and transportation systems serving producing regions such as the Appalachian Basin and Louisiana’s Haynesville shale area.