Morgan Stanley Increases DT Midstream (NYSE:DTM) Price Target to $105.00

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

DTM has been the topic of several other reports. Raymond James raised their price target on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. upped their price target on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. UBS Group assumed coverage on DT Midstream in a report on Wednesday, March 12th. They set a “buy” rating and a $102.00 price objective on the stock. Finally, The Goldman Sachs Group upped their target price on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $103.45.

DT Midstream Trading Down 0.5 %

Shares of DT Midstream stock opened at $100.52 on Tuesday. DT Midstream has a 1 year low of $59.00 and a 1 year high of $114.50. The company’s fifty day simple moving average is $99.86 and its 200-day simple moving average is $95.57. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 24.46 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.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.26%. 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 dividend payout ratio (DPR) is 91.11%.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the transaction, the director now directly 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 filing with the SEC, which is available through this link. Insiders have purchased a total of 1,170 shares of company stock valued at $103,357 in the last 90 days. 0.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DT Midstream

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of DT Midstream by 225.4% in the third quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock valued at $11,449,000 after acquiring an additional 100,825 shares during the last quarter. Friedenthal Financial bought a new position in DT Midstream in the 4th quarter valued at $764,000. Truist Financial Corp acquired a new position in DT Midstream in the fourth quarter worth $771,000. Bridgewater Associates LP grew its holdings in shares of DT Midstream by 57.6% during the third quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock worth $14,576,000 after purchasing an additional 67,725 shares during the last quarter. Finally, State Street Corp increased its stake in shares of DT Midstream by 6.4% in the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after buying an additional 202,447 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.