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

DT Midstream (NYSE:DTM) was upgraded by stock analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued on Thursday, MarketBeat.com reports. The brokerage presently has a $106.00 target price on the stock, up from their previous target price of $89.00. Stifel Nicolaus’ target price would indicate a potential upside of 5.04% from the company’s current price.

A number of other research firms have also issued reports on DTM. Wells Fargo & Company upped their target price on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upped 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. The Goldman Sachs Group raised their target price on shares of DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a research note on Tuesday, November 5th. Morgan Stanley upped their price target on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Finally, Barclays lifted their price objective on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to MarketBeat, DT Midstream has an average rating of “Hold” and an average price target of $88.89.

DT Midstream Trading Up 3.5 %

DTM stock opened at $100.91 on Thursday. DT Midstream has a 12-month low of $51.17 and a 12-month high of $109.85. The business’s 50-day moving average is $96.95 and its 200 day moving average is $82.18. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 24.55 and a beta of 0.77.

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 return on equity of 9.31% and a net margin of 41.19%. The firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same period in the prior year, the firm 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of DT Midstream during the 2nd quarter worth $252,000. Wealth Enhancement Advisory Services LLC boosted its stake in DT Midstream by 20.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,572 shares of the company’s stock worth $609,000 after buying an additional 1,464 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of DT Midstream during the second quarter valued at about $234,000. Blue Trust Inc. increased its position in shares of DT Midstream by 16.0% during the second quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock valued at $73,000 after acquiring an additional 142 shares during the last quarter. Finally, Raymond James & Associates raised its stake in shares of DT Midstream by 1.1% in the 2nd quarter. Raymond James & Associates now owns 18,148 shares of the company’s stock valued at $1,289,000 after acquiring an additional 201 shares during the period. Institutional investors and hedge funds 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.