Morgan Stanley Increases DT Midstream (NYSE:DTM) Price Target to $92.00

DT Midstream (NYSE:DTM) had its price objective boosted by equities researchers at Morgan Stanley from $82.00 to $92.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 4.60% from the company’s previous close.

Several other analysts have also commented on DTM. Citigroup lifted their price objective on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Wells Fargo & Company lifted their price target on shares of DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Stifel Nicolaus raised their target price on DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Finally, Barclays upped their price target on DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $77.38.

DT Midstream Trading Up 0.9 %

DT Midstream stock opened at $87.95 on Friday. DT Midstream has a one year low of $51.17 and a one year high of $87.98. The business’s fifty day moving average is $79.78 and its 200 day moving average is $72.29. The stock has a market capitalization of $8.54 billion, a PE ratio of 21.45 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 announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The firm had revenue of $244.00 million for the quarter, compared to the consensus estimate of $236.83 million. During the same quarter last year, the firm posted $0.93 EPS. On average, sell-side analysts predict that DT Midstream will post 3.99 EPS for the current year.

Institutional Trading of DT Midstream

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