DT Midstream (NYSE:DTM) Given New $76.00 Price Target at Citigroup

DT Midstream (NYSE:DTM) had its price target increased by Citigroup from $62.00 to $76.00 in a report published on Wednesday, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other analysts have also issued research reports about the company. Wells Fargo & Company raised their price target on DT Midstream from $77.00 to $87.00 and gave the stock an overweight rating in a research note on Wednesday, July 31st. Barclays raised their price objective on DT Midstream from $66.00 to $72.00 and gave the company an overweight rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. raised their price objective on DT Midstream from $75.00 to $78.00 and gave the company a neutral rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus raised their price objective on DT Midstream from $70.00 to $78.00 and gave the company a buy rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $70.75.

DT Midstream Stock Performance

Shares of DTM stock opened at $75.12 on Wednesday. The stock has a fifty day moving average of $73.77 and a 200 day moving average of $67.07. DT Midstream has a 52 week low of $50.88 and a 52 week high of $78.83. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 18.32 and a beta of 0.74. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The company had revenue of $244.00 million during the quarter, compared to analyst estimates of $236.83 million. During the same quarter last year, the firm posted $0.93 earnings per share. As a group, research analysts expect that DT Midstream will post 3.96 earnings per share for the current year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.735 per share. The ex-dividend date is Monday, September 16th. This represents a $2.94 annualized dividend and a dividend yield of 3.91%. DT Midstream’s payout ratio is presently 71.71%.

Hedge Funds Weigh In On DT Midstream

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in shares of DT Midstream by 12.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock valued at $312,070,000 after acquiring an additional 490,613 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of DT Midstream by 1.6% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company’s stock valued at $144,398,000 after acquiring an additional 37,463 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of DT Midstream by 284.6% during the fourth quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock valued at $83,537,000 after acquiring an additional 1,128,056 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in DT Midstream by 3.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock worth $82,870,000 after buying an additional 38,305 shares in the last quarter. Finally, Norges Bank bought a new stake in DT Midstream in the 4th quarter worth about $61,638,000. 81.53% of the stock is currently owned by institutional investors.

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.