Morgan Stanley Has Lowered Expectations for DT Midstream (NYSE:DTM) Stock Price

DT Midstream (NYSE:DTM) had its target price dropped by investment analysts at Morgan Stanley from $164.00 to $161.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley‘s target price indicates a potential upside of 29.30% from the company’s previous close.

Several other analysts have also issued reports on the stock. Wells Fargo & Company boosted their target price on shares of DT Midstream from $165.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday. Wall Street Zen downgraded shares of DT Midstream from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. The Goldman Sachs Group reissued a “sell” rating and set a $121.00 price objective on shares of DT Midstream in a research report on Wednesday, October 14th. Wolfe Research upgraded DT Midstream from a “peer perform” rating to an “outperform” rating and set a $145.00 price objective for the company in a research note on Wednesday, August 26th. Finally, Bank of America reaffirmed a “buy” rating on shares of DT Midstream in a report on Monday, October 26th. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, DT Midstream presently has an average rating of “Moderate Buy” and an average target price of $151.00.

DT Midstream Stock Performance

NYSE:DTM traded up $3.54 during mid-day trading on Tuesday, reaching $124.52. The company’s stock had a trading volume of 318,743 shares, compared to its average volume of 841,316. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.68. The stock has a market cap of $12.70 billion, a P/E ratio of 27.05, a PEG ratio of 1.74 and a beta of 0.72. The firm’s fifty day moving average price is $125.55 and its two-hundred day moving average price is $134.63. DT Midstream has a 12-month low of $109.12 and a 12-month high of $152.88.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. DT Midstream had a net margin of 35.72% and a return on equity of 9.58%. The firm had revenue of $336.00 million for the quarter, compared to the consensus estimate of $337.63 million. During the same quarter last year, the firm posted $1.13 EPS. On average, equities analysts forecast that DT Midstream will post 4.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Alps Advisors Inc. lifted its position in DT Midstream by 21.5% during the third quarter. Alps Advisors Inc. now owns 287,181 shares of the company’s stock valued at $34,310,000 after purchasing an additional 50,721 shares during the last quarter. CenterBook Partners LP bought a new stake in shares of DT Midstream in the 3rd quarter worth about $341,000. Conestoga Capital Advisors LLC increased its holdings in shares of DT Midstream by 41.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 70,610 shares of the company’s stock worth $8,436,000 after buying an additional 20,750 shares during the last quarter. Covestor Ltd raised its position in shares of DT Midstream by 190.4% during the 3rd quarter. Covestor Ltd now owns 212 shares of the company’s stock valued at $25,000 after buying an additional 139 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its position in shares of DT Midstream by 0.5% during the 3rd quarter. Hennessy Advisors Inc. now owns 154,280 shares of the company’s stock valued at $18,432,000 after buying an additional 800 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Company Profile

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.