Wolfe Research Downgrades DT Midstream (NYSE:DTM) to Peer Perform

DT Midstream (NYSE:DTMGet Rating) was downgraded by Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued on Wednesday, MarketBeat reports.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley raised their price target on shares of DT Midstream from $60.00 to $64.00 and gave the company an “underweight” rating in a research report on Wednesday, October 19th. Barclays lifted their target price on shares of DT Midstream from $63.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, October 31st. Finally, Mizuho cut shares of DT Midstream from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $67.00 to $62.00 in a research report on Monday, October 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $61.17.

DT Midstream Price Performance

Shares of NYSE DTM opened at $58.11 on Wednesday. DT Midstream has a fifty-two week low of $44.70 and a fifty-two week high of $61.12. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 15.18 and a beta of 0.88. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.14 and a current ratio of 2.14. The firm’s 50-day simple moving average is $56.22 and its 200 day simple moving average is $54.65.

DT Midstream (NYSE:DTMGet Rating) last announced its quarterly earnings results on Friday, October 28th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.04. DT Midstream had a net margin of 41.33% and a return on equity of 8.24%. The business had revenue of $235.00 million for the quarter, compared to analysts’ expectations of $230.73 million. As a group, research analysts anticipate that DT Midstream will post 3.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DT Midstream

Large investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in shares of DT Midstream by 3.3% during the 1st quarter. Van ECK Associates Corp now owns 23,192 shares of the company’s stock worth $1,258,000 after purchasing an additional 741 shares during the last quarter. Aaron Wealth Advisors LLC purchased a new position in DT Midstream in the 1st quarter valued at approximately $1,476,000. Strs Ohio purchased a new position in DT Midstream in the 2nd quarter valued at approximately $2,114,000. Venture Visionary Partners LLC purchased a new position in DT Midstream in the 2nd quarter valued at approximately $94,000. Finally, Alps Advisors Inc. grew its stake in DT Midstream by 11.5% in the 2nd quarter. Alps Advisors Inc. now owns 180,072 shares of the company’s stock valued at $8,827,000 after buying an additional 18,565 shares in the last quarter. Hedge funds and other institutional investors own 77.66% of the company’s stock.

About DT Midstream

(Get Rating)

DT Midstream, Inc provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. It develops, owns, and operates an integrated portfolio of interstate pipelines, intrastate pipelines, storage systems, lateral pipelines, gathering systems, related treatment plants, and compression and surface facilities.

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