JPMorgan Chase & Co. Increases DT Midstream (NYSE:DTM) Price Target to $83.00

DT Midstream (NYSE:DTM) had its target price lifted by equities researchers at JPMorgan Chase & Co. from $78.00 to $83.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 1.25% from the stock’s current price.

Several other research firms have also recently issued reports on DTM. Citigroup boosted their target price on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Stifel Nicolaus upped their price objective on shares of DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their target price on shares of DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Barclays boosted their price target on shares of DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, DT Midstream presently has an average rating of “Hold” and a consensus target price of $73.00.

DT Midstream Trading Up 1.6 %

NYSE:DTM opened at $84.05 on Friday. The firm has a market capitalization of $8.16 billion, a P/E ratio of 20.50 and a beta of 0.74. DT Midstream has a 52 week low of $51.17 and a 52 week high of $84.18. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The company has a fifty day moving average of $76.31 and a 200 day moving average of $69.84.

DT Midstream (NYSE:DTM) last posted its earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The company had revenue of $244.00 million during the quarter, compared to analyst estimates of $236.83 million. During the same period in the prior year, the business posted $0.93 earnings per share. On average, research analysts predict that DT Midstream will post 3.96 earnings per share for the current year.

Hedge Funds Weigh In On DT Midstream

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC grew its stake in shares of DT Midstream by 1,892.3% in the 3rd quarter. SG Americas Securities LLC now owns 70,807 shares of the company’s stock worth $5,570,000 after buying an additional 67,253 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of DT Midstream during the second quarter valued at $291,000. Cetera Investment Advisers increased its holdings in shares of DT Midstream by 2.3% during the second quarter. Cetera Investment Advisers now owns 55,349 shares of the company’s stock valued at $3,932,000 after acquiring an additional 1,242 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of DT Midstream by 6.0% in the 2nd quarter. NewEdge Advisors LLC now owns 12,878 shares of the company’s stock worth $915,000 after purchasing an additional 733 shares during the last quarter. Finally, Creative Planning boosted its stake in DT Midstream by 2.4% in the 2nd quarter. Creative Planning now owns 38,655 shares of the company’s stock worth $2,746,000 after purchasing an additional 907 shares in the last quarter. 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.