Stifel Nicolaus Boosts DT Midstream (NYSE:DTM) Price Target to $70.00

DT Midstream (NYSE:DTM) had its price objective lifted by equities researchers at Stifel Nicolaus from $62.00 to $70.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 11.23% from the stock’s current price.

A number of other brokerages have also weighed in on DTM. Mizuho upped their price objective on DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday. US Capital Advisors downgraded DT Midstream from an “overweight” rating to a “hold” rating in a research report on Monday. Barclays boosted their target price on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, Wolfe Research upgraded DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.50.

DT Midstream Stock Performance

NYSE DTM traded up $0.32 on Wednesday, reaching $62.93. The stock had a trading volume of 464,906 shares, compared to its average volume of 690,524. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.63 and a current ratio of 0.71. DT Midstream has a 12-month low of $45.10 and a 12-month high of $64.69. The business’s 50-day moving average price is $60.57 and its 200 day moving average price is $56.77. The stock has a market cap of $6.11 billion, a P/E ratio of 15.30 and a beta of 0.72.

DT Midstream (NYSE:DTM) last released its earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $240.00 million for the quarter, compared to analyst estimates of $242.62 million. DT Midstream had a return on equity of 9.41% and a net margin of 42.46%. During the same quarter in the previous year, the company posted $0.84 earnings per share. As a group, equities analysts expect that DT Midstream will post 3.93 earnings per share for the current year.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the transaction, the director now directly owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On DT Midstream

Several large investors have recently added to or reduced their stakes in DTM. First Trust Advisors LP lifted its position in DT Midstream by 284.6% during the fourth quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock worth $83,537,000 after buying an additional 1,128,056 shares during the period. Norges Bank acquired a new stake in DT Midstream during the fourth quarter worth about $61,638,000. HITE Hedge Asset Management LLC acquired a new stake in DT Midstream during the fourth quarter worth about $47,462,000. Deutsche Bank AG increased its stake in DT Midstream by 1,176.7% during the third quarter. Deutsche Bank AG now owns 867,145 shares of the company’s stock worth $45,889,000 after acquiring an additional 799,224 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in DT Midstream by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock worth $186,407,000 after acquiring an additional 266,433 shares during the last quarter. 81.53% of the stock is currently 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.