DT Midstream (NYSE:DTM) Upgraded by Stifel Nicolaus to “Buy” Rating

DT Midstream (NYSE:DTM) was upgraded by stock analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued on Thursday,Finviz reports. The firm presently has a $106.00 price target on the stock, up from their previous price target of $89.00. Stifel Nicolaus’ price target would suggest a potential upside of 11.10% from the stock’s current price.

DTM has been the subject of several other research reports. The Goldman Sachs Group boosted their price objective on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and increased their price target for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Barclays boosted their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Morgan Stanley increased their target price on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company boosted their price target on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $86.67.

DT Midstream Stock Performance

Shares of NYSE DTM opened at $95.41 on Thursday. The stock’s 50-day moving average is $96.38 and its 200 day moving average is $81.83. The stock has a market cap of $9.27 billion, a price-to-earnings ratio of 23.21 and a beta of 0.77. DT Midstream has a 1-year low of $51.17 and a 1-year high of $109.85. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). The business had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter in the previous year, the company earned $0.94 earnings per share. On average, sell-side analysts anticipate that DT Midstream will post 3.84 EPS for the current fiscal year.

Institutional Investors Weigh In On DT Midstream

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of DT Midstream by 1,476.9% in the 3rd quarter. FMR LLC now owns 805,950 shares of the company’s stock worth $63,396,000 after buying an additional 754,839 shares during the last quarter. Brookfield Corp ON raised its position in shares of DT Midstream by 171.3% in the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after purchasing an additional 655,695 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in DT Midstream during the 3rd quarter valued at about $39,166,000. Dimensional Fund Advisors LP increased its stake in DT Midstream by 12.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock valued at $312,070,000 after purchasing an additional 490,613 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in DT Midstream by 30.1% in the third 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 last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

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.