DT Midstream (NYSE:DTM) Given New $92.00 Price Target at Morgan Stanley

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

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

DT Midstream Stock Performance

NYSE:DTM opened at $87.39 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50-day simple moving average of $80.02 and a two-hundred day simple moving average of $72.46. The firm has a market capitalization of $8.49 billion, a PE ratio of 21.31 and a beta of 0.74. DT Midstream has a 52-week low of $51.17 and a 52-week high of $88.21.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data 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 return on equity of 9.45% and a net margin of 42.10%. The company had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. During the same period in the previous year, the company posted $0.93 EPS. Analysts forecast that DT Midstream will post 3.99 EPS for the current year.

DT Midstream Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Prevail Innovative Wealth Advisors LLC lifted its position in DT Midstream by 37.9% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company’s stock valued at $2,316,000 after purchasing an additional 10,418 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in DT Midstream by 137.6% in the first quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock worth $1,840,000 after acquiring an additional 17,437 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in DT Midstream during the first quarter worth approximately $1,085,000. Cetera Investment Advisers raised its position in DT Midstream by 1,223.2% during the first quarter. Cetera Investment Advisers now owns 54,107 shares of the company’s stock valued at $3,306,000 after purchasing an additional 50,018 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of DT Midstream by 15.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock valued at $8,657,000 after purchasing an additional 16,171 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

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.