DT Midstream (NYSE:DTM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

DT Midstream (NYSE:DTM) had its price target increased by Morgan Stanley from $92.00 to $105.00 in a report issued on Tuesday,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

Other analysts also recently issued research reports about the company. Raymond James upped their price target on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group raised their price target on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 19th. Bank of America started coverage on shares of DT Midstream in a research note on Monday. They issued a “buy” rating and a $110.00 price target on the stock. UBS Group assumed coverage on shares of DT Midstream in a research note on Wednesday, March 12th. They set a “buy” rating and a $102.00 price objective for the company. Finally, Barclays dropped their target price on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $105.08.

DT Midstream Trading Down 1.1 %

NYSE:DTM opened at $97.15 on Tuesday. DT Midstream has a one year low of $59.50 and a one year high of $114.50. The company’s 50-day simple moving average is $99.35 and its 200 day simple moving average is $95.60. The firm has a market capitalization of $9.87 billion, a P/E ratio of 23.64 and a beta of 0.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Monday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio is 91.11%.

Insider Buying and Selling at DT Midstream

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This trade represents a 2.66 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders purchased 1,170 shares of company stock worth $103,357. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On DT Midstream

Institutional investors have recently made changes to their positions in the business. Blackstone Inc. raised its position in DT Midstream by 2,783.1% in the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock worth $162,199,000 after acquiring an additional 1,574,705 shares during the period. Norges Bank bought a new position in DT Midstream in the 4th quarter worth $119,520,000. FMR LLC lifted its position in DT Midstream by 1,476.9% during the third quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after purchasing an additional 754,839 shares in the last quarter. Zimmer Partners LP purchased a new position in DT Midstream during the fourth quarter valued at $74,572,000. Finally, Brookfield Corp ON grew its holdings in DT Midstream by 171.3% during the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after purchasing an additional 655,695 shares during the period. Institutional investors 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.