DT Midstream (NYSE:DTM) Price Target Raised to $94.00 at The Goldman Sachs Group

DT Midstream (NYSE:DTM) had its price target lifted by The Goldman Sachs Group from $74.00 to $94.00 in a research note released on Thursday,Benzinga reports. They currently have a sell rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus raised shares of DT Midstream from a “hold” rating to a “buy” rating and upped their target price for the company from $89.00 to $106.00 in a research note on Thursday. Morgan Stanley upped their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Barclays lifted their target price on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and increased their price target for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. Finally, Wells Fargo & Company lifted their price objective on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $88.89.

DT Midstream Price Performance

DTM opened at $97.53 on Thursday. The company has a fifty day moving average price of $96.65 and a two-hundred day moving average price of $81.94. The firm has a market capitalization of $9.48 billion, a PE ratio of 23.73 and a beta of 0.77. DT Midstream has a 52 week low of $51.17 and a 52 week high of $109.85. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

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

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 annualized dividend and a dividend yield of 3.01%. DT Midstream’s dividend payout ratio is currently 71.53%.

Institutional Investors Weigh In On DT Midstream

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new stake in DT Midstream during the third quarter worth about $29,000. Sanctuary Advisors LLC raised its position in DT Midstream by 14.6% during the third quarter. Sanctuary Advisors LLC now owns 4,695 shares of the company’s stock worth $369,000 after acquiring an additional 597 shares in the last quarter. Coldstream Capital Management Inc. acquired a new stake in DT Midstream in the third quarter valued at $239,000. Geode Capital Management LLC grew its position in shares of DT Midstream by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock valued at $162,567,000 after acquiring an additional 85,462 shares during the period. Finally, Executive Wealth Management LLC raised its holdings in shares of DT Midstream by 14.7% in the 3rd quarter. Executive Wealth Management LLC now owns 10,563 shares of the company’s stock valued at $831,000 after purchasing an additional 1,356 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

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.