DT Midstream (NYSE:DTM) Given New $118.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley increased its price target for DT Midstream from $113.00 to $118.00, indicating a potential upside of 13.52% from the company's previous close.
• The stock has received mixed ratings, with two analysts rating it as a sell, three as hold, and six as buy, leading to a consensus rating classified as "Hold."
• DT Midstream reported a quarterly earnings per share of $1.04, beating estimates, and has a market capitalization of $10.56 billion.

DT Midstream (NYSE:DTM - Get Free Report) had its price objective upped by equities research analysts at Morgan Stanley from $113.00 to $118.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 13.52% from the company's previous close.

A number of other brokerages also recently weighed in on DTM. Stifel Nicolaus increased their price objective on shares of DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, August 1st. US Capital Advisors downgraded shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Wells Fargo & Company raised their target price on shares of DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Barclays raised their target price on shares of DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, DT Midstream has a consensus rating of "Hold" and a consensus price target of $110.91.

DT Midstream Stock Up 0.5%

NYSE DTM traded up $0.53 during trading hours on Wednesday, hitting $103.95. The company's stock had a trading volume of 801,059 shares, compared to its average volume of 1,023,964. The company's 50-day simple moving average is $104.60 and its two-hundred day simple moving average is $100.64. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69. DT Midstream has a 52 week low of $71.97 and a 52 week high of $114.50. The company has a market capitalization of $10.56 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 1.92 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.98 by $0.06. The firm had revenue of $299.00 million during the quarter, compared to the consensus estimate of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same period in the prior year, the firm posted $0.98 earnings per share. Research analysts anticipate that DT Midstream will post 3.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Kayne Anderson Capital Advisors LP boosted its holdings in DT Midstream by 28.9% in the second quarter. Kayne Anderson Capital Advisors LP now owns 873,199 shares of the company's stock worth $95,973,000 after purchasing an additional 195,782 shares during the period. First Horizon Advisors Inc. lifted its stake in DT Midstream by 12.6% in the second quarter. First Horizon Advisors Inc. now owns 1,621 shares of the company's stock valued at $178,000 after buying an additional 182 shares during the last quarter. State of Michigan Retirement System grew its position in DT Midstream by 0.8% in the 2nd quarter. State of Michigan Retirement System now owns 24,455 shares of the company's stock worth $2,688,000 after purchasing an additional 200 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in DT Midstream in the 2nd quarter worth about $213,000. Finally, Versor Investments LP acquired a new stake in DT Midstream during the 2nd quarter worth about $1,001,000. 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.

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