DT Midstream (NYSE:DTM) Stock Rating Upgraded by Morgan Stanley

DT Midstream (NYSE:DTM) was upgraded by Morgan Stanley from an “underweight” rating to an “equal weight” rating in a note issued to investors on Wednesday, MarketBeat.com reports. The firm presently has a $165.00 price objective on the stock, up from their prior price objective of $139.00. Morgan Stanley’s target price suggests a potential upside of 23.36% from the company’s current price.

Several other equities research analysts have also recently issued reports on DTM. The Goldman Sachs Group lifted their price objective on shares of DT Midstream from $111.00 to $127.00 and gave the company a “sell” rating in a research report on Monday. Stifel Nicolaus set a $137.00 price target on shares of DT Midstream and gave the stock a “hold” rating in a research report on Monday, February 23rd. Jefferies Financial Group set a $148.00 price target on shares of DT Midstream and gave the stock a “buy” rating in a research report on Friday, February 20th. Wells Fargo & Company boosted their price target on shares of DT Midstream from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of DT Midstream from $126.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, DT Midstream currently has an average rating of “Hold” and a consensus price target of $144.91.

DT Midstream Trading Up 1.6%

DT Midstream stock opened at $133.76 on Wednesday. The stock has a market cap of $13.64 billion, a P/E ratio of 31.03, a PEG ratio of 2.73 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. DT Midstream has a 1 year low of $94.15 and a 1 year high of $143.67. The firm’s 50 day moving average price is $135.75 and its 200-day moving average price is $123.95.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Thursday, February 19th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.03). The company had revenue of $317.00 million for the quarter, compared to the consensus estimate of $320.07 million. DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. During the same quarter in the previous year, the business earned $0.94 EPS. On average, equities analysts predict that DT Midstream will post 4.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DT Midstream news, CFO Jeffrey A. Jewell purchased 185 shares of DT Midstream stock in a transaction that occurred on Wednesday, February 25th. The shares were bought at an average price of $136.33 per share, for a total transaction of $25,221.05. Following the completion of the transaction, the chief financial officer owned 89,583 shares of the company’s stock, valued at approximately $12,212,850.39. This trade represents a 0.21% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in DT Midstream during the fourth quarter worth $28,000. Richardson Financial Services Inc. boosted its stake in DT Midstream by 62.7% during the fourth quarter. Richardson Financial Services Inc. now owns 244 shares of the company’s stock worth $29,000 after buying an additional 94 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in DT Midstream during the fourth quarter worth $30,000. Mather Group LLC. purchased a new position in DT Midstream during the third quarter worth $30,000. Finally, Centerpoint Advisors LLC boosted its stake in DT Midstream by 198.9% during the third quarter. Centerpoint Advisors LLC now owns 269 shares of the company’s stock worth $30,000 after buying an additional 179 shares during the period. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Company Profile

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.