Barclays Issues Pessimistic Forecast for DT Midstream (NYSE:DTM) Stock Price

DT Midstream (NYSE:DTM) had its price objective cut by Barclays from $107.00 to $102.00 in a report issued on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

DTM has been the topic of a number of other reports. Raymond James lifted their price target on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Bank of America assumed coverage on shares of DT Midstream in a research report on Monday, March 24th. They set a “buy” rating and a $110.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Stifel Nicolaus reduced their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, UBS Group boosted their price objective on shares of DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $104.67.

DT Midstream Price Performance

Shares of DTM opened at $92.58 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average is $95.93 and its two-hundred day moving average is $97.03. DT Midstream has a twelve month low of $61.01 and a twelve month high of $114.50. The firm has a market capitalization of $9.41 billion, a PE ratio of 22.53 and a beta of 0.77.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a dividend yield of 3.54%. DT Midstream’s dividend payout ratio is currently 91.11%.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the purchase, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 1,170 shares of company stock worth $103,357 in the last ninety days. Insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DTM. Wilmington Savings Fund Society FSB purchased a new stake in DT Midstream in the 3rd quarter worth approximately $29,000. Bessemer Group Inc. boosted its holdings in shares of DT Midstream by 61.6% during the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock worth $30,000 after purchasing an additional 117 shares during the last quarter. AdvisorNet Financial Inc grew its position in shares of DT Midstream by 106.7% in the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after purchasing an additional 160 shares during the period. Sound Income Strategies LLC grew its position in shares of DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after purchasing an additional 163 shares during the period. Finally, Versant Capital Management Inc increased its stake in DT Midstream by 130.2% in the first quarter. Versant Capital Management Inc now owns 488 shares of the company’s stock valued at $47,000 after purchasing an additional 276 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other 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.