Wells Fargo & Company Boosts DT Midstream (NYSE:DTM) Price Target to $165.00

DT Midstream (NYSE:DTM) had its target price hoisted by equities researchers at Wells Fargo & Company from $150.00 to $165.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 19.93% from the company’s previous close.

A number of other analysts have also issued reports on DTM. Bank of America boosted their target price on shares of DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Mizuho raised their price target on shares of DT Midstream from $108.00 to $129.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Wall Street Zen cut shares of DT Midstream from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Morgan Stanley upped their target price on shares of DT Midstream from $137.00 to $139.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 10th. Finally, Stifel Nicolaus set a $137.00 target price on shares of DT Midstream and gave the stock a “hold” rating in a research report on Monday, February 23rd. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, DT Midstream presently has an average rating of “Hold” and a consensus price target of $141.00.

DT Midstream Price Performance

Shares of DTM stock opened at $137.58 on Friday. The stock has a 50 day moving average price of $129.16 and a 200 day moving average price of $118.68. DT Midstream has a 52-week low of $83.30 and a 52-week high of $143.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization 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.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Thursday, February 19th. The company reported $1.08 EPS 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 during the quarter, compared to the consensus estimate of $320.07 million. During the same period last year, the company earned $0.94 EPS. As a group, sell-side analysts predict that DT Midstream will post 3.8 earnings per share for the current year.

Insiders Place Their Bets

In other DT Midstream news, CFO Jeffrey A. Jewell acquired 185 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average cost of $136.33 per share, with a total value of $25,221.05. Following the completion of the purchase, the chief financial officer directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DT Midstream

Several large investors have recently modified their holdings of DTM. NewEdge Wealth LLC lifted its position in DT Midstream by 2.4% during the fourth quarter. NewEdge Wealth LLC now owns 3,613 shares of the company’s stock valued at $432,000 after acquiring an additional 85 shares during the last quarter. Covestor Ltd boosted its stake in DT Midstream by 11.2% in the fourth quarter. Covestor Ltd now owns 897 shares of the company’s stock valued at $107,000 after acquiring an additional 90 shares in the last quarter. Richardson Financial Services Inc. grew its holdings in DT Midstream by 62.7% in the fourth quarter. Richardson Financial Services Inc. now owns 244 shares of the company’s stock worth $29,000 after purchasing an additional 94 shares during the last quarter. VestGen Investment Management increased its position in shares of DT Midstream by 1.2% during the fourth quarter. VestGen Investment Management now owns 7,698 shares of the company’s stock worth $921,000 after purchasing an additional 94 shares in the last quarter. Finally, Pathstone Holdings LLC increased its position in shares of DT Midstream by 0.3% during the third quarter. Pathstone Holdings LLC now owns 28,322 shares of the company’s stock worth $3,215,000 after purchasing an additional 97 shares in the last quarter. Institutional investors 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.