Citigroup Upgrades DT Midstream (NYSE:DTM) to Buy

DT Midstream (NYSE:DTM) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Thursday, Marketbeat reports. The firm currently has a $115.00 price objective on the stock, up from their previous price objective of $90.00. Citigroup’s price target points to a potential upside of 5.93% from the stock’s previous close.

A number of other research firms have also recently commented on DTM. The Goldman Sachs Group lifted their price objective on DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Wells Fargo & Company raised their target price on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus cut shares of DT Midstream from a “buy” rating to a “hold” rating and lifted their target price for the stock from $78.00 to $89.00 in a research note on Wednesday, October 30th. Finally, Barclays increased their price target on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $84.78.

DT Midstream Stock Performance

Shares of DTM opened at $108.56 on Thursday. DT Midstream has a 12-month low of $51.17 and a 12-month high of $109.85. The stock has a market cap of $10.55 billion, a P/E ratio of 26.41 and a beta of 0.71. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average of $88.36 and a two-hundred day moving average of $77.20.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter in the prior year, the firm earned $0.94 earnings per share. As a group, research analysts predict that DT Midstream will post 3.96 EPS for the current fiscal year.

Institutional Trading of DT Midstream

Institutional investors have recently modified their holdings of the company. Coldstream Capital Management Inc. purchased a new position in DT Midstream in the third quarter valued at approximately $239,000. Geode Capital Management LLC increased its position in shares of DT Midstream by 4.3% in the third quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock worth $162,567,000 after acquiring an additional 85,462 shares in the last quarter. Executive Wealth Management LLC raised its stake in shares of DT Midstream by 14.7% in the 3rd quarter. Executive Wealth Management LLC now owns 10,563 shares of the company’s stock valued at $831,000 after acquiring an additional 1,356 shares during the period. Duff & Phelps Investment Management Co. lifted its holdings in shares of DT Midstream by 48.8% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 271,067 shares of the company’s stock valued at $21,322,000 after acquiring an additional 88,946 shares in the last quarter. Finally, Barclays PLC boosted its position in DT Midstream by 3.7% during the 3rd quarter. Barclays PLC now owns 283,363 shares of the company’s stock worth $22,289,000 after purchasing an additional 10,074 shares during the period. Hedge funds and other 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.