DT Midstream (NYSE:DTM) PT Raised to $92.00 at Morgan Stanley

DT Midstream (NYSE:DTM) had its target price hoisted by Morgan Stanley from $82.00 to $92.00 in a research note issued to investors on Friday morning, Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Barclays lifted their price objective 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. Stifel Nicolaus upped their target price on shares of DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Citigroup lifted their price target on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company boosted their price target on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, DT Midstream currently has a consensus rating of “Hold” and an average target price of $77.38.

DT Midstream Stock Performance

DT Midstream stock opened at $87.39 on Friday. DT Midstream has a 1-year low of $51.17 and a 1-year high of $88.21. The company’s 50-day moving average is $80.02 and its 200 day moving average is $72.46. The firm has a market capitalization of $8.49 billion, a P/E ratio of 21.31 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.06. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The firm had revenue of $244.00 million for the quarter, compared to the consensus estimate of $236.83 million. During the same period in the prior year, the business posted $0.93 earnings per share. Research analysts forecast that DT Midstream will post 3.99 EPS for the current year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 16th were issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 3.36%. The ex-dividend date was Monday, September 16th. DT Midstream’s payout ratio is 71.71%.

Institutional Trading of DT Midstream

A number of hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. increased its holdings in shares of DT Midstream by 324.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock valued at $25,000 after acquiring an additional 240 shares during the period. Family Firm Inc. bought a new position in DT Midstream in the second quarter worth about $26,000. V Square Quantitative Management LLC bought a new position in DT Midstream in the third quarter worth about $29,000. First Command Advisory Services Inc. purchased a new stake in shares of DT Midstream during the second quarter valued at about $31,000. Finally, American National Bank boosted its holdings in shares of DT Midstream by 100.0% in the 2nd quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after buying an additional 234 shares in the last quarter. Hedge funds and other 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.