Wall Street Zen Upgrades DT Midstream (NYSE:DTM) to Hold

DT Midstream (NYSE:DTM) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

A number of other brokerages have also recently weighed in on DTM. Mizuho lifted their price objective on shares of DT Midstream from $108.00 to $129.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. increased their target price on shares of DT Midstream from $126.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Barclays raised their target price on shares of DT Midstream from $119.00 to $141.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Stifel Nicolaus set a $137.00 price target on shares of DT Midstream and gave the stock a “hold” rating in a research report on Monday, February 23rd. Finally, UBS Group upped their price target on shares of DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, DT Midstream has a consensus rating of “Hold” and a consensus target price of $141.00.

DT Midstream Stock Up 1.4%

DTM opened at $137.58 on Friday. DT Midstream has a 12 month low of $83.30 and a 12 month high of $143.67. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market cap of $14.00 billion, a P/E ratio of 31.92, a P/E/G ratio of 2.83 and a beta of 0.75. The stock’s 50 day moving average price is $129.16 and its 200 day moving average price is $118.68.

DT Midstream (NYSE:DTM) last announced its earnings results on Thursday, February 19th. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.03). DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. The business had revenue of $317.00 million for the quarter, compared to the consensus estimate of $320.07 million. During the same period in the previous year, the firm earned $0.94 EPS. As a group, research analysts predict that DT Midstream will post 3.8 earnings per share for the current year.

Insider Buying and Selling

In other DT Midstream news, CFO Jeffrey A. Jewell purchased 185 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were purchased at an average cost of $136.33 per share, for a total transaction of $25,221.05. Following the completion of the transaction, the chief financial officer owned 89,583 shares in the company, valued at $12,212,850.39. The trade was a 0.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On DT Midstream

Hedge funds have recently made changes to their positions in the business. Miller Howard Investments Inc. NY increased its holdings in shares of DT Midstream by 24.9% in the third quarter. Miller Howard Investments Inc. NY now owns 210,411 shares of the company’s stock valued at $23,789,000 after buying an additional 41,929 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of DT Midstream by 7.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 871,636 shares of the company’s stock worth $98,538,000 after acquiring an additional 63,438 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of DT Midstream by 76.7% in the 3rd quarter. Principal Financial Group Inc. now owns 500,329 shares of the company’s stock worth $56,568,000 after acquiring an additional 217,185 shares during the last quarter. Clean Energy Transition LLP raised its position in shares of DT Midstream by 84.7% during the second quarter. Clean Energy Transition LLP now owns 324,763 shares of the company’s stock worth $35,695,000 after purchasing an additional 148,911 shares during the period. Finally, First American Bank acquired a new stake in shares of DT Midstream during the third quarter worth $1,373,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Company Profile

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.