Morgan Stanley Issues Positive Forecast for DT Midstream (NYSE:DTM) Stock Price

DT Midstream (NYSE:DTM - Free Report) had its target price raised by Morgan Stanley from $105.00 to $115.00 in a report published on Tuesday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

DTM has been the subject of a number of other reports. UBS Group lifted their price objective on shares of DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Bank of America assumed coverage on DT Midstream in a research report on Monday, March 24th. They issued a "buy" rating and a $110.00 price target for the company. Barclays boosted their price objective on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Stifel Nicolaus cut their target price on 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, Wells Fargo & Company reduced their target price on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $109.27.

DT Midstream Trading Down 0.6%

DTM traded down $0.60 during trading on Tuesday, hitting $106.61. The company's stock had a trading volume of 813,182 shares, compared to its average volume of 880,555. The firm has a market capitalization of $10.83 billion, a P/E ratio of 25.94 and a beta of 0.77. DT Midstream has a twelve month low of $66.98 and a twelve month high of $114.50. The stock's fifty day moving average price is $98.68 and its 200-day moving average price is $100.21. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.01). The company had revenue of $288.81 million during the quarter, compared to the consensus estimate of $285.48 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 business earned $0.99 EPS. Analysts anticipate that DT Midstream will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a dividend of $0.82 per share. The ex-dividend date is Monday, June 16th. This represents a $3.28 annualized dividend and a dividend yield of 3.08%. DT Midstream's payout ratio is 89.37%.

Insider Activity at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now owns 38,653 shares of the company's stock, valued at approximately $3,359,718.76. This represents a 2.66% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DT Midstream

A number of hedge funds and other institutional investors have recently modified their holdings of DTM. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in DT Midstream during the 1st quarter worth about $25,000. Alpine Bank Wealth Management acquired a new stake in DT Midstream during the 1st quarter worth about $26,000. Twin Tree Management LP acquired a new stake in DT Midstream during the 1st quarter worth about $29,000. Bessemer Group Inc. raised its stake in shares of DT Midstream by 61.6% during the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company's stock valued at $30,000 after buying an additional 117 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of DT Midstream by 39.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company's stock valued at $42,000 after buying an additional 123 shares during the period. 81.53% of the stock is currently owned by 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.