DT Midstream (NYSE:DTM) Raised to “Buy” at Stifel Nicolaus

DT Midstream (NYSE:DTM) was upgraded by Stifel Nicolaus from a “hold” rating to a “buy” rating in a report released on Thursday, Marketbeat Ratings reports. The brokerage currently has a $106.00 price target on the stock, up from their prior price target of $89.00. Stifel Nicolaus’ price objective suggests a potential upside of 5.04% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $90.00 to $115.00 in a research report on Thursday, November 21st. Wells Fargo & Company lifted their target price on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Barclays increased their price target on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Finally, Morgan Stanley increased their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, DT Midstream currently has a consensus rating of “Hold” and a consensus price target of $88.89.

DT Midstream Price Performance

Shares of DTM stock opened at $100.91 on Thursday. DT Midstream has a fifty-two week low of $51.17 and a fifty-two week high of $109.85. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $9.80 billion, a price-to-earnings ratio of 24.55 and a beta of 0.77. The stock’s 50-day simple moving average is $96.95 and its 200-day simple moving average is $82.18.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. During the same quarter in the previous year, the company posted $0.94 EPS. As a group, equities analysts forecast that DT Midstream will post 3.84 earnings per share for the current fiscal year.

Institutional Trading of DT Midstream

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DTM. Dimensional Fund Advisors LP boosted its stake in shares of DT Midstream by 12.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock worth $312,070,000 after acquiring an additional 490,613 shares in the last quarter. State Street Corp boosted its position in DT Midstream by 6.4% during the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after purchasing an additional 202,447 shares in the last quarter. Geode Capital Management LLC grew its holdings in DT Midstream by 4.3% in the third quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock valued at $162,567,000 after purchasing an additional 85,462 shares during the period. Bank of New York Mellon Corp increased its position in shares of DT Midstream by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock valued at $82,870,000 after buying an additional 38,305 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of DT Midstream by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after buying an additional 267,269 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Company Profile

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.