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

DT Midstream (NYSE:DTM) had its price objective hoisted by investment analysts at Morgan Stanley from $92.00 to $105.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 6.83% from the stock’s previous close.

A number of other brokerages also recently issued reports on DTM. The Goldman Sachs Group upped their price target on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research report on Thursday, December 19th. Raymond James upped their price target 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. UBS Group began coverage on shares of DT Midstream in a research note on Wednesday, March 12th. They set a “buy” rating and a $102.00 price objective for the company. Wells Fargo & Company cut 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. Finally, Barclays dropped their price target on DT Midstream from $112.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $104.00.

DT Midstream Stock Performance

DTM stock opened at $98.29 on Tuesday. DT Midstream has a 1-year low of $59.03 and a 1-year high of $114.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $9.99 billion, a P/E ratio of 23.91 and a beta of 0.80. The business has a 50-day moving average price of $99.65 and a 200 day moving average price of $95.59.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction dated Monday, March 10th. The shares were purchased at an average price of $86.92 per share, with a total value 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired 1,170 shares of company stock valued at $103,357 over the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

Institutional Trading of DT Midstream

Hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in DT Midstream by 61.6% during the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock worth $30,000 after buying an additional 117 shares during the period. AdvisorNet Financial Inc increased its position in shares of DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after acquiring an additional 160 shares during the period. Sound Income Strategies LLC boosted its holdings in DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after purchasing an additional 163 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in DT Midstream in the third quarter valued at $29,000. Finally, UMB Bank n.a. grew its stake in DT Midstream by 53.2% during the 4th quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after purchasing an additional 167 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.