Bank of America Begins Coverage on DT Midstream (NYSE:DTM)

Investment analysts at Bank of America began coverage on shares of DT Midstream (NYSE:DTM) in a note issued to investors on Monday, Marketbeat reports. The firm set a “buy” rating and a $110.00 price target on the stock. Bank of America‘s price objective indicates a potential upside of 9.43% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Raymond James raised their price objective on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group boosted their price objective on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Stifel Nicolaus lowered their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. boosted their price target on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Finally, UBS Group initiated coverage on DT Midstream in a research report on Wednesday, March 12th. They set a “buy” rating and a $102.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $103.45.

DT Midstream Stock Performance

Shares of NYSE DTM opened at $100.52 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a 50 day moving average price of $99.86 and a 200 day moving average price of $95.57. The stock has a market capitalization of $10.21 billion, a PE ratio of 24.46 and a beta of 0.80. DT Midstream has a 52 week low of $59.00 and a 52 week high of $114.50.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the transaction, the director now owns 38,653 shares in the company, valued at $3,359,718.76. The trade was a 2.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have purchased 1,170 shares of company stock worth $103,357 over the last quarter. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of DT Midstream

A number of institutional investors and hedge funds have recently bought and sold shares of DTM. Blackstone Inc. raised 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 during the last quarter. Norges Bank bought a new position in DT Midstream during the fourth quarter worth $119,520,000. FMR LLC lifted its holdings in DT Midstream by 1,476.9% in the third quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after buying an additional 754,839 shares during the period. Zimmer Partners LP bought a new stake in DT Midstream during the fourth quarter valued at $74,572,000. Finally, Brookfield Corp ON raised its position in shares of DT Midstream by 171.3% in the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after acquiring an additional 655,695 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

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.