Barclays Issues Positive Forecast for DT Midstream (NYSE:DTM) Stock Price

DT Midstream (NYSE:DTM) had its target price lifted by equities researchers at Barclays from $119.00 to $141.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential downside of 0.72% from the company’s previous close.

A number of other equities analysts also recently issued reports on DTM. JPMorgan Chase & Co. lifted their price target on DT Midstream from $118.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. Weiss Ratings restated a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, January 21st. 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 note on Tuesday, February 10th. Bank of America upped their price objective on shares of DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Stifel Nicolaus set a $137.00 price target on shares of DT Midstream and gave the company a “hold” rating in a research report on Monday, February 23rd. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $138.18.

DT Midstream Trading Down 0.3%

Shares of NYSE:DTM traded down $0.39 during mid-day trading on Thursday, hitting $142.02. The company had a trading volume of 87,148 shares, compared to its average volume of 785,529. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. DT Midstream has a one year low of $83.30 and a one year high of $142.85. The firm has a fifty day moving average price of $126.53 and a 200 day moving average price of $116.85. The company has a market capitalization of $14.45 billion, a PE ratio of 32.95, a price-to-earnings-growth ratio of 2.50 and a beta of 0.75.

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

Insider Transactions at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell bought 185 shares of DT Midstream stock in a transaction that occurred on Wednesday, February 25th. The stock was 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 in the company, valued at $12,212,850.39. This represents a 0.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of DT Midstream

A number of large investors have recently modified their holdings of DTM. Miller Howard Investments Inc. NY lifted its position in DT Midstream by 24.9% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 210,411 shares of the company’s stock worth $23,789,000 after buying an additional 41,929 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of DT Midstream by 76.7% during the third quarter. Principal Financial Group Inc. now owns 500,329 shares of the company’s stock worth $56,568,000 after acquiring an additional 217,185 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of DT Midstream by 7.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 871,636 shares of the company’s stock worth $98,538,000 after acquiring an additional 63,438 shares during the last quarter. Clean Energy Transition LLP grew its holdings 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 valued at $35,695,000 after purchasing an additional 148,911 shares during the last quarter. Finally, First American Bank purchased a new position in DT Midstream in the 3rd quarter worth $1,373,000. 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.