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

DT Midstream (NYSE:DTM) had its price target increased by equities researchers at Morgan Stanley from $92.00 to $105.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 6.83% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. 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 report on Friday, March 21st. Raymond James boosted their target price on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their price target on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. upped their price objective on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $104.00.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $98.29 on Tuesday. DT Midstream has a 12 month low of $59.03 and a 12 month high of $114.50. The firm has a market capitalization of $9.99 billion, a P/E ratio of 23.91 and a beta of 0.80. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $99.65 and a two-hundred day simple moving average of $95.59.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of DT Midstream stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, the director now owns 38,653 shares of the company’s stock, valued at $3,359,718.76. This trade represents a 2.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 1,170 shares of company stock worth $103,357 over the last quarter. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On DT Midstream

Several institutional investors have recently added to or reduced their stakes in DTM. Vanguard Group Inc. boosted its position in shares of DT Midstream by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock valued at $1,049,363,000 after acquiring an additional 359,017 shares during the last quarter. State Street Corp raised its stake in DT Midstream by 6.4% during the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after purchasing an additional 202,447 shares in the last quarter. Deutsche Bank AG lifted its position in DT Midstream by 5.5% during the fourth quarter. Deutsche Bank AG now owns 2,831,830 shares of the company’s stock valued at $281,569,000 after purchasing an additional 147,790 shares during the last quarter. Geode Capital Management LLC lifted its position in DT Midstream by 18.7% during the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company’s stock valued at $243,948,000 after purchasing an additional 386,670 shares during the last quarter. Finally, Blackstone Inc. grew its stake in shares of DT Midstream by 2,783.1% in the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock worth $162,199,000 after buying an additional 1,574,705 shares in 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.