DT Midstream (NYSE:DTM) Coverage Initiated by Analysts at Barclays

Barclays assumed coverage on shares of DT Midstream (NYSE:DTM) in a report published on Friday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $112.00 price target on the stock.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company lifted their price target on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lifted their target price on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Morgan Stanley upped their price target on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Finally, Stifel Nicolaus upgraded shares of DT Midstream from a “hold” rating to a “buy” rating and boosted their target price for the stock from $89.00 to $106.00 in a report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $95.88.

DT Midstream Stock Performance

Shares of DTM opened at $103.81 on Friday. The firm has a market capitalization of $10.09 billion, a PE ratio of 25.26 and a beta of 0.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $101.32 and a 200 day moving average price of $85.66. DT Midstream has a 52-week low of $51.17 and a 52-week high of $109.85.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The company had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same period in the prior year, the company posted $0.94 earnings per share. On average, sell-side analysts anticipate that DT Midstream will post 3.84 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a $0.735 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.94 annualized dividend and a dividend yield of 2.83%. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

Hedge Funds Weigh In On DT Midstream

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DTM. FMR LLC lifted its stake in DT Midstream by 1,476.9% in the 3rd quarter. FMR LLC now owns 805,950 shares of the company’s stock worth $63,396,000 after acquiring an additional 754,839 shares in the last quarter. Brookfield Corp ON grew its stake in DT Midstream by 171.3% during the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after acquiring an additional 655,695 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of DT Midstream in the third quarter worth approximately $39,166,000. Dimensional Fund Advisors LP boosted 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 worth $312,070,000 after purchasing an additional 490,613 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in DT Midstream by 30.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock valued at $90,978,000 after purchasing an additional 267,269 shares in the last quarter. Institutional investors and hedge funds 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.