DT Midstream (NYSE:DTM) Stock Gets Price Target Cut from Morgan Stanley

DT Midstream (NYSE:DTM) had its target price cut by Morgan Stanley from $164.00 to $161.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

DTM has been the topic of a number of other reports. Barclays decreased their target price on DT Midstream from $143.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 6th. Scotiabank dropped their price target on DT Midstream from $165.00 to $161.00 and set a “sector outperform” rating for the company in a research report on Tuesday. Bank of America reiterated a “buy” rating on shares of DT Midstream in a research report on Monday, October 26th. JPMorgan Chase & Co. boosted their price objective on DT Midstream from $146.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Finally, Wells Fargo & Company upped their price objective on shares of DT Midstream from $165.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, DT Midstream currently has an average rating of “Moderate Buy” and a consensus target price of $151.00.

DT Midstream Trading Down 3.9%

DT Midstream stock opened at $113.04 on Tuesday. The stock has a market cap of $11.53 billion, a P/E ratio of 24.57, a PEG ratio of 1.65 and a beta of 0.73. DT Midstream has a fifty-two week low of $110.62 and a fifty-two week high of $152.88. The firm’s fifty day moving average price is $124.91 and its 200-day moving average price is $134.62. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.16 and a current ratio of 1.16.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Thursday, October 29th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.03. The company had revenue of $336.00 million during the quarter, compared to analyst estimates of $337.63 million. DT Midstream had a return on equity of 9.59% and a net margin of 35.36%. During the same quarter last year, the company earned $1.13 earnings per share. Equities research analysts forecast that DT Midstream will post 4.64 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, December 15th. DT Midstream’s payout ratio is currently 76.52%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DTM. Chickasaw Capital Management LLC raised its position in DT Midstream by 38.0% during the third quarter. Chickasaw Capital Management LLC now owns 522,558 shares of the company’s stock valued at $62,430,000 after purchasing an additional 143,766 shares in the last quarter. Edgestream Partners L.P. lifted its stake in DT Midstream by 1,501.5% during the first quarter. Edgestream Partners L.P. now owns 103,683 shares of the company’s stock worth $13,963,000 after purchasing an additional 97,209 shares during the last quarter. NEOS Investment Management LLC lifted its stake in DT Midstream by 50.6% during the second quarter. NEOS Investment Management LLC now owns 210,368 shares of the company’s stock worth $30,869,000 after purchasing an additional 70,650 shares during the last quarter. Alps Advisors Inc. boosted its holdings in shares of DT Midstream by 21.5% in the 3rd quarter. Alps Advisors Inc. now owns 287,181 shares of the company’s stock worth $34,310,000 after purchasing an additional 50,721 shares in the last quarter. Finally, Ancora Advisors LLC purchased a new position in shares of DT Midstream in the 2nd quarter worth about $7,362,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

About DT Midstream

DT Midstream, Inc (NYSE: DTM) is an independent North American energy company focused on the transportation, storage and gathering of natural gas. The company owns and operates interstate and intrastate pipeline systems, natural gas storage facilities, and gathering and processing infrastructure that connect producers with utilities, power generators, industrial customers and other energy markets.

DT Midstream’s operations are concentrated in the United States, including the Midwest, Northeast and Gulf Coast regions.