DT Midstream (NYSE:DTM) Downgraded by Stifel Nicolaus to Hold

DT Midstream (NYSE:DTM) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Briefing.com reports. They presently have a $89.00 target price on the stock, up from their prior target price of $78.00. Stifel Nicolaus’ target price would indicate a potential downside of 0.29% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley raised their price target on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Wells Fargo & Company lifted their price target on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Citigroup increased their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. upped their target price on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Finally, Barclays raised their price target on shares of DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $78.75.

DT Midstream Stock Performance

NYSE:DTM opened at $89.26 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average price of $80.52 and a 200 day moving average price of $72.95. The firm has a market capitalization of $8.67 billion, a PE ratio of 21.77 and a beta of 0.74. DT Midstream has a 12-month low of $51.17 and a 12-month high of $89.32.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The firm had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same period in the prior year, the business posted $0.93 earnings per share. Research analysts anticipate that DT Midstream will post 3.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DT Midstream

Several institutional investors have recently modified their holdings of DTM. Dimensional Fund Advisors LP grew its holdings in DT Midstream by 12.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock valued at $312,070,000 after purchasing an additional 490,613 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of DT Midstream by 1.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company’s stock valued at $144,398,000 after buying an additional 37,463 shares in the last quarter. Bank of New York Mellon Corp raised its stake in DT Midstream by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock worth $82,870,000 after buying an additional 38,305 shares during the period. Tortoise Capital Advisors L.L.C. lifted its holdings in DT Midstream by 6.3% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock worth $72,737,000 after acquiring an additional 60,370 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in DT Midstream by 14.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 809,126 shares of the company’s stock valued at $49,438,000 after acquiring an additional 99,755 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

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.