DT Midstream (NYSE:DTM) PT Set at $115.00 by Morgan Stanley

Morgan Stanley set a $115.00 price target on DT Midstream (NYSE:DTM - Free Report) in a research note released on Tuesday morning, Marketbeat.com reports. The firm currently has an underweight rating on the stock.

Several other equities analysts also recently issued reports on the stock. Williams Trading set a $110.00 price target on shares of DT Midstream in a research note on Monday, March 24th. Wells Fargo & Company cut their target price on DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. UBS Group lifted their target price on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. US Capital Advisors downgraded DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Finally, Barclays lifted their target price on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued 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 Price Performance

Shares of DTM traded up $0.07 during midday trading on Tuesday, hitting $108.23. The company's stock had a trading volume of 752,640 shares, compared to its average volume of 882,481. DT Midstream has a one year low of $66.98 and a one year high of $114.50. The company's fifty day simple moving average is $99.31 and its two-hundred day simple moving average is $100.34. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $10.99 billion, a price-to-earnings ratio of 26.33 and a beta of 0.78.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter in the prior year, the firm earned $0.99 EPS. As a group, equities analysts expect that DT Midstream will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream's dividend payout ratio is 89.37%.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average cost of $86.92 per share, with a total value of $86,920.00. Following the transaction, the director now directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of DT Midstream

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DTM. Blackstone Inc. increased its holdings in DT Midstream by 2,783.1% during the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock worth $162,199,000 after purchasing an additional 1,574,705 shares in the last quarter. Norges Bank bought a new stake in DT Midstream in the fourth quarter worth about $119,520,000. Zimmer Partners LP purchased a new position in DT Midstream in the fourth quarter valued at about $74,572,000. Vanguard Group Inc. boosted its stake in DT Midstream by 5.9% in the first quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company's stock valued at $1,078,161,000 after acquiring an additional 621,183 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its stake in DT Midstream by 108.8% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock valued at $107,784,000 after acquiring an additional 564,899 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

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.