DT Midstream (NYSE:DTM) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

DT Midstream (NYSE:DTM) had its price target upped by research analysts at JPMorgan Chase & Co. from $109.00 to $115.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 3.18% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. The Goldman Sachs Group lifted their price objective on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. Stifel Nicolaus upgraded shares of DT Midstream from a “hold” rating to a “buy” rating and increased their price objective for the company from $89.00 to $106.00 in a research note on Thursday, December 19th. Wells Fargo & Company raised their price objective 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. Finally, Barclays began coverage on shares of DT Midstream in a research note on Friday, January 10th. They issued an “equal weight” rating and a $112.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $99.88.

DT Midstream Price Performance

Shares of DTM stock opened at $111.46 on Friday. The firm has a fifty day simple moving average of $104.05 and a 200-day simple moving average of $88.61. The company has a market capitalization of $10.83 billion, a PE ratio of 27.12 and a beta of 0.79. DT Midstream has a twelve month low of $51.17 and a twelve month high of $114.50. 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 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). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The firm had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $242.64 million. During the same period in the previous year, the company earned $0.94 earnings per share. Equities research analysts anticipate that DT Midstream will post 3.84 earnings per share for the current fiscal year.

Institutional Trading of DT Midstream

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in DT Midstream by 225.4% during the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock worth $11,449,000 after buying an additional 100,825 shares during the last quarter. Friedenthal Financial bought a new stake in DT Midstream in the fourth quarter valued at $764,000. Atria Investments Inc acquired a new position in shares of DT Midstream during the third quarter valued at $666,000. Bridgewater Associates LP grew its position in shares of DT Midstream by 57.6% during the third quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock worth $14,576,000 after acquiring an additional 67,725 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after acquiring an additional 202,447 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

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.