Barclays Forecasts Strong Price Appreciation for DT Midstream (NYSE:DTM) Stock

DT Midstream (NYSE:DTM) had its target price upped by Barclays from $119.00 to $141.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential downside of 0.72% from the stock’s current price.

Several 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 stock a “neutral” rating in a research note on Tuesday, February 17th. Jefferies Financial Group set a $148.00 price target on shares of DT Midstream and gave the company a “buy” rating in a research report on Friday, February 20th. Morgan Stanley increased their price target on DT Midstream from $137.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 10th. UBS Group lifted their price objective on DT Midstream from $128.00 to $152.00 and gave the company a “buy” rating in a report on Friday, February 20th. Finally, Stifel Nicolaus set a $137.00 target price on DT Midstream and gave the stock a “hold” rating in a report on Monday, February 23rd. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, DT Midstream currently has an average rating of “Hold” and a consensus target price of $138.18.

DT Midstream Stock Performance

DTM traded down $0.39 on Thursday, reaching $142.02. The company had a trading volume of 87,148 shares, compared to its average volume of 785,529. The stock has a market cap of $14.45 billion, a P/E ratio of 32.95, a P/E/G ratio of 2.50 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. DT Midstream has a fifty-two week low of $83.30 and a fifty-two week high of $142.85. The company’s fifty day moving average is $126.53 and its 200 day moving average is $116.85.

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

Insider Buying and Selling

In other DT Midstream news, CFO Jeffrey A. Jewell purchased 185 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were bought at an average price of $136.33 per share, for a total transaction of $25,221.05. Following the completion of the acquisition, the chief financial officer owned 89,583 shares in the company, valued at approximately $12,212,850.39. This trade represents a 0.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DT Midstream

Institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new stake in DT Midstream during the 4th quarter valued at approximately $28,000. Richardson Financial Services Inc. boosted its stake in shares of DT Midstream by 62.7% in the 4th quarter. Richardson Financial Services Inc. now owns 244 shares of the company’s stock valued at $29,000 after purchasing an additional 94 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of DT Midstream during the third quarter worth $30,000. Centerpoint Advisors LLC raised its stake in DT Midstream by 198.9% during the third quarter. Centerpoint Advisors LLC now owns 269 shares of the company’s stock worth $30,000 after buying an additional 179 shares during the last quarter. Finally, First Horizon Corp acquired a new position in DT Midstream in the third quarter valued at $32,000. Institutional investors own 81.53% of the company’s stock.

About DT Midstream

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.