The Goldman Sachs Group Upgrades DT Midstream (NYSE:DTM) to "Neutral"

Key Points

• Goldman Sachs upgraded DT Midstream from “sell” to “neutral” and raised its price target from $121 to $127, implying 6.21% upside from the prior close.
• Analyst sentiment is broadly positive: the stock has a consensus “Moderate Buy” rating and a $151.43 average price target, with 10 Buy and 5 Hold ratings.
• DT Midstream reported quarterly EPS of $1.16, topping the $1.13 estimate, while revenue of $336 million came in slightly below expectations of $337.63 million.

DT Midstream (NYSE:DTM - Get Free Report) was upgraded by equities researchers at The Goldman Sachs Group from a "sell" rating to a "neutral" rating in a report issued on Friday, FinViz reports. The brokerage currently has a $127.00 price objective on the stock, up from their prior price objective of $121.00. The Goldman Sachs Group's price target points to a potential upside of 6.21% from the stock's previous close.

DTM has been the subject of several other reports. Wells Fargo & Company upped their price objective on DT Midstream from $165.00 to $167.00 and gave the stock an "overweight" rating in a research report on Friday, October 30th. Wolfe Research upgraded DT Midstream from a "peer perform" rating to an "outperform" rating and set a $145.00 price objective for the company in a report on Wednesday, August 26th. Wall Street Zen lowered DT Midstream from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Barclays cut their target price on DT Midstream from $143.00 to $142.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 6th. Finally, Morgan Stanley cut their target price on DT Midstream from $164.00 to $161.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 3rd. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $151.43.

DT Midstream Trading Up 0.5%

DTM opened at $119.57 on Friday. The stock has a market capitalization of $12.20 billion, a P/E ratio of 25.99, a P/E/G ratio of 1.66 and a beta of 0.73. DT Midstream has a 12 month low of $111.55 and a 12 month high of $152.88. The firm's fifty day simple moving average is $123.63 and its 200 day simple moving average is $134.53. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.66.

DT Midstream (NYSE:DTM - Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.03. DT Midstream had a return on equity of 9.59% and a net margin of 35.36%. The firm had revenue of $336.00 million during the quarter, compared to analysts' expectations of $337.63 million. During the same quarter in the prior year, the company earned $1.13 EPS. As a group, research analysts anticipate that DT Midstream will post 4.68 EPS for the current fiscal year.

Institutional Trading of DT Midstream

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Glenmede Trust Co. NA increased its position in shares of DT Midstream by 0.4% during the 1st quarter. Glenmede Trust Co. NA now owns 24,685 shares of the company's stock worth $3,324,000 after purchasing an additional 89 shares during the last quarter. North Dakota State Investment Board raised its stake in shares of DT Midstream by 3.2% during the 3rd quarter. North Dakota State Investment Board now owns 3,115 shares of the company's stock worth $372,000 after purchasing an additional 97 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of DT Midstream by 1.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 10,375 shares of the company's stock worth $1,313,000 after purchasing an additional 98 shares in the last quarter. Center for Financial Planning Inc. raised its stake in shares of DT Midstream by 4.4% during the 3rd quarter. Center for Financial Planning Inc. now owns 2,497 shares of the company's stock worth $298,000 after purchasing an additional 106 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in shares of DT Midstream by 5.6% in the 1st quarter. D.A. Davidson & CO. now owns 2,079 shares of the company's stock valued at $280,000 after buying an additional 111 shares during the last quarter. Institutional investors own 81.53% of the company's stock.

About DT Midstream

DT Midstream is an independent natural gas infrastructure company that develops, owns and operates pipelines, gathering systems and storage facilities. Its services connect natural gas producers with utilities, power generators, industrial customers and other markets. The company's assets include interstate pipelines and underground storage in the Midwest, as well as gathering and transportation systems serving producing regions such as the Appalachian Basin and Louisiana's Haynesville shale area.

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