DT Midstream (NYSE:DTM) Price Target Cut to $107.00 by Analysts at Barclays

DT Midstream (NYSE:DTM) had its price objective trimmed by Barclays from $112.00 to $107.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other brokerages have also commented on DTM. The Goldman Sachs Group upped their price target on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Raymond James increased 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. JPMorgan Chase & Co. increased their target price on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Wells Fargo & Company decreased their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, UBS Group assumed coverage on DT Midstream in a research note on Wednesday, March 12th. They set a “buy” rating and a $102.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, DT Midstream presently has an average rating of “Hold” and a consensus price target of $101.50.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $96.88 on Friday. DT Midstream has a 52 week low of $59.00 and a 52 week high of $114.50. The business’s fifty day simple moving average is $100.10 and its 200-day simple moving average is $94.96. The firm has a market cap of $9.84 billion, a PE ratio of 23.57 and a beta of 0.80. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.39%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is currently 91.11%.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now owns 38,653 shares in the company, valued at $3,359,718.76. The trade was a 2.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have purchased 1,170 shares of company stock valued at $103,357 in the last quarter. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DTM. Wilmington Savings Fund Society FSB purchased a new position in shares of DT Midstream in the 3rd quarter valued at about $29,000. Bessemer Group Inc. increased its holdings in shares of DT Midstream by 61.6% in the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock valued at $30,000 after acquiring an additional 117 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in shares of DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after acquiring an additional 160 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after acquiring an additional 163 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of DT Midstream in the 3rd quarter valued at about $40,000. Hedge funds and other 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.