Analysts Set DT Midstream, Inc. (NYSE:DTM) Target Price at $70.75

DT Midstream, Inc. (NYSE:DTM) has received a consensus rating of “Hold” from the ten research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $73.00.

Several analysts have weighed in on the company. Stifel Nicolaus boosted their price target on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Citigroup boosted their price target on 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 boosted their price target on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Barclays boosted their price objective on DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday.

Hedge Funds Weigh In On DT Midstream

Large investors have recently bought and sold shares of the business. Bright Rock Capital Management LLC acquired a new position in DT Midstream in the 1st quarter worth about $916,000. Prevail Innovative Wealth Advisors LLC raised its holdings in shares of DT Midstream by 37.9% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company’s stock valued at $2,316,000 after acquiring an additional 10,418 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of DT Midstream by 137.6% during the first quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock valued at $1,840,000 after acquiring an additional 17,437 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of DT Midstream during the first quarter valued at approximately $1,085,000. Finally, Tortoise Index Solutions LLC raised its holdings in shares of DT Midstream by 12.9% during the fourth quarter. Tortoise Index Solutions LLC now owns 128,107 shares of the company’s stock valued at $7,020,000 after acquiring an additional 14,598 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Up 1.6 %

Shares of DTM stock opened at $84.05 on Wednesday. DT Midstream has a 1-year low of $51.17 and a 1-year high of $84.18. The stock’s fifty day moving average price is $76.11 and its 200 day moving average price is $69.66. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $8.16 billion, a price-to-earnings ratio of 20.51 and a beta of 0.74.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.06. The business had revenue of $244.00 million for 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 quarter in the previous year, the business earned $0.93 EPS. On average, research analysts expect that DT Midstream will post 3.96 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

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

DT Midstream Company Profile

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.