Stifel Nicolaus Forecasts Strong Price Appreciation for DT Midstream (NYSE:DTM) Stock

Key Points

• Stifel Nicolaus has raised its price target for DT Midstream from $102.00 to $108.00, indicating a potential upside of 2.60% from the stock's prior close, and maintained a "buy" rating.
• DT Midstream shares recently increased 2.5% during trading, reaching a price of $105.26, with a trading volume lower than its average.
• In its latest earnings report, DT Midstream beat consensus estimates with $1.04 earnings per share, exceeding expectations of $0.98, and reported revenues of $299 million for the quarter.

DT Midstream (NYSE:DTM - Get Free Report) had its price objective boosted by analysts at Stifel Nicolaus from $102.00 to $108.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price target points to a potential upside of 2.60% from the stock's previous close.

Several other research firms have also issued reports on DTM. Barclays raised their price objective on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Wells Fargo & Company raised their price objective on DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday. Morgan Stanley set a $115.00 price target on DT Midstream and gave the stock an "underweight" rating in a research note on Tuesday, June 3rd. Finally, US Capital Advisors lowered DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $110.64.

DT Midstream Stock Up 2.5%

Shares of NYSE DTM traded up $2.53 during trading hours on Friday, hitting $105.26. The company had a trading volume of 365,225 shares, compared to its average volume of 1,020,849. DT Midstream has a 1-year low of $69.82 and a 1-year high of $114.50. The firm's 50 day moving average is $104.58 and its 200-day moving average is $100.82. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $10.69 billion, a P/E ratio of 28.70, a price-to-earnings-growth ratio of 1.83 and a beta of 0.78.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.06. DT Midstream had a return on equity of 8.46% and a net margin of 34.96%. The company had revenue of $299.00 million for the quarter, compared to analysts' expectations of $295.70 million. During the same period in the previous year, the business posted $0.98 earnings per share. On average, analysts expect that DT Midstream will post 3.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DT Midstream

A number of large investors have recently bought and sold shares of DTM. American Century Companies Inc. grew its position in DT Midstream by 3.5% in the fourth quarter. American Century Companies Inc. now owns 48,837 shares of the company's stock worth $4,856,000 after acquiring an additional 1,666 shares during the period. LPL Financial LLC raised its stake in DT Midstream by 23.9% in the fourth quarter. LPL Financial LLC now owns 81,602 shares of the company's stock valued at $8,114,000 after buying an additional 15,733 shares in the last quarter. Blair William & Co. IL raised its stake in DT Midstream by 6.9% in the fourth quarter. Blair William & Co. IL now owns 6,515 shares of the company's stock valued at $648,000 after buying an additional 420 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in DT Midstream by 20.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,181 shares of the company's stock valued at $416,000 after buying an additional 713 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in DT Midstream by 26.9% in the fourth quarter. Alliancebernstein L.P. now owns 164,879 shares of the company's stock valued at $16,394,000 after buying an additional 34,958 shares in the last quarter. 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.

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