Wells Fargo & Company Issues Positive Forecast for DT Midstream (NYSE:DTM) Stock Price

Key Points

• Wells Fargo & Company has raised the price target for DT Midstream stock from $108.00 to $117.00, indicating a potential upside of 13.22% from the previous close.
• DT Midstream reported $1.04 earnings per share, exceeding analysts' estimates, with revenues of $299 million for the quarter.
• A consensus rating for DT Midstream is now a "Hold," with mixed ratings from various analysts, including two sell ratings and six buy ratings.

DT Midstream (NYSE:DTM - Get Free Report) had its price objective raised by Wells Fargo & Company from $108.00 to $117.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 13.22% from the company's previous close.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley set a $115.00 price target on DT Midstream and gave the company an "underweight" rating in a report on Tuesday, June 3rd. US Capital Advisors cut DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Barclays boosted 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, DT Midstream presently has a consensus rating of "Hold" and a consensus target price of $110.09.

DT Midstream Trading Up 0.6%

DTM traded up $0.61 on Friday, hitting $103.34. The company had a trading volume of 84,732 shares, compared to its average volume of 1,019,184. The firm has a market cap of $10.50 billion, a P/E ratio of 28.16, a PEG ratio of 1.83 and a beta of 0.78. DT Midstream has a 1 year low of $69.82 and a 1 year high of $114.50. The company's fifty day moving average price is $104.58 and its 200 day moving average price is $100.82. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.06. The firm had revenue of $299.00 million for the quarter, compared to analyst estimates of $295.70 million. DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. During the same period in the previous year, the firm earned $0.98 EPS. As a group, equities analysts expect that DT Midstream will post 3.8 earnings per share for the current year.

Institutional Trading of DT Midstream

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ballentine Partners LLC raised its stake in shares of DT Midstream by 4.2% in the 2nd quarter. Ballentine Partners LLC now owns 2,604 shares of the company's stock worth $286,000 after buying an additional 106 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of DT Midstream by 61.6% in the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company's stock worth $30,000 after buying an additional 117 shares in the last quarter. Independent Advisor Alliance raised its position in shares of DT Midstream by 2.5% during the first quarter. Independent Advisor Alliance now owns 4,713 shares of the company's stock worth $455,000 after purchasing an additional 117 shares during the period. Geneos Wealth Management Inc. raised its position in shares of DT Midstream by 39.3% during the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company's stock worth $42,000 after purchasing an additional 123 shares during the period. Finally, NewEdge Advisors LLC raised its position in shares of DT Midstream by 1.1% during the fourth quarter. NewEdge Advisors LLC now owns 13,413 shares of the company's stock worth $1,334,000 after purchasing an additional 142 shares during the period. Institutional investors 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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