JPMorgan Chase & Co. Boosts DT Midstream (NYSE:DTM) Price Target to $78.00

DT Midstream (NYSE:DTM) had its target price increased by JPMorgan Chase & Co. from $75.00 to $78.00 in a report issued on Friday, Benzinga reports. The firm currently has a neutral rating on the stock.

DTM has been the subject of a number of other research reports. Barclays increased their price target on shares of DT Midstream from $66.00 to $72.00 and gave the company an overweight rating in a report on Wednesday, July 17th. US Capital Advisors downgraded shares of DT Midstream from an overweight rating to a hold rating in a report on Monday, April 29th. Mizuho raised their target price on shares of DT Midstream from $57.00 to $65.00 and gave the company a neutral rating in a report on Monday, April 29th. Stifel Nicolaus raised their target price on shares of DT Midstream from $70.00 to $78.00 and gave the company a buy rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company raised their target price on shares of DT Midstream from $77.00 to $87.00 and gave the company an overweight rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $70.00.

DT Midstream Stock Down 2.8 %

DTM stock opened at $70.84 on Friday. DT Midstream has a one year low of $50.54 and a one year high of $76.35. The stock has a market capitalization of $6.88 billion, a PE ratio of 17.28 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.84. The company has a fifty day moving average of $70.49 and a 200-day moving average of $63.44.

DT Midstream (NYSE:DTM) last released its earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The company had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. During the same quarter last year, the business earned $0.93 EPS. As a group, analysts expect that DT Midstream will post 3.9 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $0.735 per share. The ex-dividend date is Monday, September 16th. This represents a $2.94 dividend on an annualized basis and a yield of 4.15%. DT Midstream’s dividend payout ratio (DPR) is 71.71%.

Institutional Trading of DT Midstream

A number of hedge funds have recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in shares of DT Midstream during the second quarter valued at approximately $6,309,000. Tortoise Capital Advisors L.L.C. raised its stake in shares of DT Midstream by 6.3% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock valued at $72,737,000 after purchasing an additional 60,370 shares during the period. Arizona State Retirement System raised its stake in shares of DT Midstream by 1.9% during the second quarter. Arizona State Retirement System now owns 27,150 shares of the company’s stock valued at $1,928,000 after purchasing an additional 500 shares during the period. Victory Capital Management Inc. raised its stake in shares of DT Midstream by 89.4% during the second quarter. Victory Capital Management Inc. now owns 45,024 shares of the company’s stock valued at $3,198,000 after purchasing an additional 21,252 shares during the period. Finally, Jackson Creek Investment Advisors LLC bought a new stake in shares of DT Midstream in the second quarter worth $538,000. 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.