DT Midstream (NYSE:DTM) Cut to “Hold” at Stifel Nicolaus

Stifel Nicolaus lowered shares of DT Midstream (NYSE:DTM) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The firm currently has $89.00 price target on the stock, up from their previous price target of $78.00.

A number of other research firms also recently weighed in on DTM. Wells Fargo & Company upped their price target on shares of DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley raised 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. JPMorgan Chase & Co. boosted their target price on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Barclays raised their price target on shares of DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Finally, Citigroup increased their target price on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $80.38.

DT Midstream Stock Performance

Shares of DTM stock opened at $88.96 on Wednesday. The stock’s fifty day simple moving average is $81.36 and its 200-day simple moving average is $73.38. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 21.64 and a beta of 0.74. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. DT Midstream has a 1-year low of $51.17 and a 1-year high of $91.50.

DT Midstream (NYSE:DTM) last issued its 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 net margin of 41.19% and a return on equity of 9.31%. The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same quarter in the prior year, the company earned $0.94 EPS. On average, sell-side analysts predict that DT Midstream will post 3.96 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 3.30%. The ex-dividend date is Monday, December 16th. DT Midstream’s payout ratio is currently 71.53%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DTM. Covestor Ltd lifted its holdings in shares of DT Midstream by 65.0% during the third quarter. Covestor Ltd now owns 3,160 shares of the company’s stock valued at $248,000 after acquiring an additional 1,245 shares during the period. Atria Investments Inc bought a new position in DT Midstream during the 3rd quarter valued at about $666,000. Lindbrook Capital LLC boosted its position in DT Midstream by 49.9% in the third quarter. Lindbrook Capital LLC now owns 13,556 shares of the company’s stock valued at $1,066,000 after buying an additional 4,510 shares in the last quarter. Executive Wealth Management LLC increased its holdings in shares of DT Midstream by 14.7% during the third quarter. Executive Wealth Management LLC now owns 10,563 shares of the company’s stock worth $831,000 after buying an additional 1,356 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new position in shares of DT Midstream in the third quarter valued at approximately $372,000. Institutional investors own 81.53% of the company’s stock.

DT Midstream Company Profile

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.