DT Midstream (NYSE:DTM) Price Target Raised to $108.00 at Stifel Nicolaus

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 lifted by research analysts at Stifel Nicolaus from $102.00 to $108.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' price objective indicates a potential upside of 4.41% from the stock's current price.

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

DT Midstream Stock Performance

Shares of DTM traded down $2.36 during mid-day trading on Friday, hitting $103.43. 1,056,930 shares of the company's stock were exchanged, compared to its average volume of 1,025,793. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69. DT Midstream has a fifty-two week low of $70.91 and a fifty-two week high of $114.50. The business's 50 day moving average is $104.64 and its two-hundred day moving average is $100.62. The firm has a market capitalization of $10.51 billion, a P/E ratio of 27.73, a P/E/G ratio of 1.91 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. The company had revenue of $299.00 million for the quarter, compared to the consensus estimate of $295.70 million. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%. During the same period last year, the business posted $0.98 EPS. On average, equities analysts expect that DT Midstream will post 3.8 earnings per share for the current year.

Hedge Funds Weigh In On DT Midstream

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in DT Midstream by 5.9% during the first quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company's stock worth $1,078,161,000 after acquiring an additional 621,183 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of DT Midstream by 5.5% during the 4th quarter. Deutsche Bank AG now owns 2,831,830 shares of the company's stock worth $281,569,000 after purchasing an additional 147,790 shares during the period. Geode Capital Management LLC boosted its holdings in shares of DT Midstream by 18.7% during the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock worth $243,948,000 after purchasing an additional 386,670 shares during the last quarter. Blackstone Inc. grew its position in shares of DT Midstream by 2,783.1% in the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock valued at $162,199,000 after purchasing an additional 1,574,705 shares during the period. Finally, Tortoise Capital Advisors L.L.C. increased its stake in DT Midstream by 21.8% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 1,582,833 shares of the company's stock valued at $152,712,000 after purchasing an additional 282,870 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

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.