Wells Fargo & Company Increases DT Midstream (NYSE:DTM) Price Target to $100.00

DT Midstream (NYSE:DTM) had its price objective raised by investment analysts at Wells Fargo & Company from $87.00 to $100.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 12.41% from the company’s current price.

A number of other equities research analysts have also recently commented on DTM. Citigroup increased their price target on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Morgan Stanley increased their price objective on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Stifel Nicolaus lowered DT Midstream from a “buy” rating to a “hold” rating and raised their target price for the stock from $78.00 to $89.00 in a report on Wednesday. JPMorgan Chase & Co. increased their price target on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Finally, Barclays increased their price target on DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $80.38.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $88.96 on Thursday. DT Midstream has a 52 week low of $51.17 and a 52 week high of $91.50. The company has a market capitalization of $8.64 billion, a PE ratio of 21.64 and a beta of 0.74. The stock’s fifty day moving average is $81.36 and its two-hundred day moving average is $73.38. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The company had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter last year, the company earned $0.94 earnings per share. As a group, analysts expect that DT Midstream will post 3.96 earnings per share for the current year.

Hedge Funds Weigh In On DT Midstream

Several hedge funds and other institutional investors have recently made changes to their positions in DTM. Dimensional Fund Advisors LP lifted its position in DT Midstream by 12.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock worth $312,070,000 after buying an additional 490,613 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in DT Midstream by 1.6% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company’s stock worth $144,398,000 after purchasing an additional 37,463 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in DT Midstream by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock worth $82,870,000 after buying an additional 38,305 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in DT Midstream by 6.3% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock worth $72,737,000 after buying an additional 60,370 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in DT Midstream by 14.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 809,126 shares of the company’s stock worth $49,438,000 after buying an additional 99,755 shares during the last quarter. Hedge funds and other institutional investors 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.