DT Midstream (NYSE:DTM) Price Target Increased to $65.00 by Analysts at Mizuho

DT Midstream (NYSE:DTM) had its price objective hoisted by Mizuho from $57.00 to $65.00 in a research report report published on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also issued reports on the company. Barclays raised their price target on DT Midstream from $59.00 to $66.00 and gave the stock an overweight rating in a research report on Friday, April 5th. Wolfe Research upgraded DT Midstream from an underperform rating to a peer perform rating in a report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $59.83.

DT Midstream Price Performance

DTM stock opened at $63.19 on Monday. The firm has a 50 day moving average of $60.22 and a 200-day moving average of $56.65. The firm has a market capitalization of $6.14 billion, a P/E ratio of 16.00 and a beta of 0.73. DT Midstream has a 12 month low of $45.10 and a 12 month high of $64.69. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.72.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Friday, February 16th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $0.92 by $0.32. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. The firm had revenue of $244.00 million during the quarter, compared to the consensus estimate of $235.19 million. During the same period last year, the firm earned $0.93 EPS. As a group, sell-side analysts predict that DT Midstream will post 3.95 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were paid a $0.735 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $2.94 annualized dividend and a dividend yield of 4.65%. This is an increase from DT Midstream’s previous quarterly dividend of $0.69. DT Midstream’s dividend payout ratio (DPR) is 74.43%.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were purchased at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the transaction, the director now directly owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DTM. Perigon Wealth Management LLC purchased a new position in shares of DT Midstream in the first quarter worth $258,000. Allspring Global Investments Holdings LLC lifted its stake in DT Midstream by 76.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company’s stock worth $46,000 after purchasing an additional 330 shares in the last quarter. Principal Financial Group Inc. lifted its stake in DT Midstream by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 396,417 shares of the company’s stock worth $24,221,000 after purchasing an additional 8,042 shares in the last quarter. Benjamin Edwards Inc. purchased a new position in shares of DT Midstream during the first quarter valued at about $118,000. Finally, Sigma Investment Counselors Inc. purchased a new position in shares of DT Midstream during the first quarter valued at about $210,000. 81.53% of the stock is currently owned by institutional investors.

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.