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

DT Midstream (NYSE:DTM) had its price objective hoisted by Wells Fargo & Company from $150.00 to $165.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 20.80% from the stock’s current price.

Several other brokerages have also recently issued reports on DTM. JPMorgan Chase & Co. lifted their price objective on DT Midstream from $126.00 to $142.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Stifel Nicolaus set a $137.00 target price on DT Midstream and gave the company a “hold” rating in a report on Monday, February 23rd. Jefferies Financial Group set a $148.00 price target on DT Midstream and gave the company a “buy” rating in a research report on Friday, February 20th. Barclays boosted their price objective on shares of DT Midstream from $119.00 to $141.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. Finally, Wall Street Zen cut shares of DT Midstream from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $141.00.

DT Midstream Price Performance

DT Midstream stock traded up $0.96 during mid-day trading on Friday, reaching $136.60. The company had a trading volume of 102,835 shares, compared to its average volume of 777,531. The stock’s 50-day simple moving average is $128.83 and its 200-day simple moving average is $118.31. DT Midstream has a 1 year low of $83.30 and a 1 year 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 company has a market capitalization of $13.89 billion, a P/E ratio of 31.75, a P/E/G ratio of 2.86 and a beta of 0.75.

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

Insider Activity

In related news, CFO Jeffrey A. Jewell acquired 185 shares of DT Midstream stock in a transaction dated Wednesday, February 25th. The shares were acquired 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 directly owned 89,583 shares of the company’s stock, valued at $12,212,850.39. The trade was a 0.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DTM. Miller Howard Investments Inc. NY boosted its position in DT Midstream by 24.9% during the third quarter. Miller Howard Investments Inc. NY now owns 210,411 shares of the company’s stock worth $23,789,000 after acquiring an additional 41,929 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in DT Midstream by 7.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 871,636 shares of the company’s stock valued at $98,538,000 after acquiring an additional 63,438 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of DT Midstream by 76.7% during the 3rd quarter. Principal Financial Group Inc. now owns 500,329 shares of the company’s stock worth $56,568,000 after purchasing an additional 217,185 shares during the period. Clean Energy Transition LLP lifted its stake in shares of DT Midstream by 84.7% during the 2nd 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.