DT Midstream (NYSE:DTM) Now Covered by Bank of America

Investment analysts at Bank of America started coverage on shares of DT Midstream (NYSE:DTM - Get Free Report) in a research note issued on Monday, Marketbeat reports. The firm set a "buy" rating and a $110.00 price target on the stock. Bank of America's price objective points to a potential upside of 13.53% from the company's previous close.

Several other brokerages have also recently weighed in on DTM. Wells Fargo & Company lowered their price target on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Stifel Nicolaus reduced their price target on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. UBS Group began coverage on DT Midstream in a research note on Wednesday, March 12th. They issued a "buy" rating and a $102.00 price target on the stock. The Goldman Sachs Group increased their price objective on DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a report on Thursday, December 19th. Finally, Raymond James boosted their target price on DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $105.08.

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DT Midstream Trading Down 0.1 %

NYSE:DTM opened at $96.89 on Monday. The firm has a 50 day moving average of $99.03 and a 200 day moving average of $95.75. The stock has a market capitalization of $9.84 billion, a price-to-earnings ratio of 23.57 and a beta of 0.80. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream has a 52 week low of $60.54 and a 52 week high of $114.50.

Insiders Place Their Bets

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of DT Midstream stock in a transaction that occurred on 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 purchase, the director now owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders acquired 1,170 shares of company stock worth $103,357. 0.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DT Midstream

Institutional investors and hedge funds have recently modified their holdings of the company. Blackstone Inc. boosted its position in DT Midstream by 2,783.1% during the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock worth $162,199,000 after purchasing an additional 1,574,705 shares during the period. Norges Bank acquired a new stake in DT Midstream during the 4th quarter valued at $119,520,000. FMR LLC increased its position in shares of DT Midstream by 1,476.9% during the third quarter. FMR LLC now owns 805,950 shares of the company's stock worth $63,396,000 after acquiring an additional 754,839 shares during the last quarter. Zimmer Partners LP acquired a new position in shares of DT Midstream in the fourth quarter worth about $74,572,000. Finally, Brookfield Corp ON grew its stake in DT Midstream by 171.3% during the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company's stock valued at $81,689,000 after purchasing an additional 655,695 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.