DT Midstream (NYSE:DTM) Price Target Raised to $76.00

DT Midstream (NYSE:DTM - Get Free Report) had its price objective lifted by stock analysts at Citigroup from $62.00 to $76.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's target price would suggest a potential downside of 1.07% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. Barclays increased their price target on shares of DT Midstream from $66.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $75.00 to $78.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Stifel Nicolaus upped their price target on DT Midstream from $70.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company lifted their price objective on DT Midstream from $77.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $70.75.

DT Midstream Stock Performance

NYSE:DTM traded up $0.34 during mid-day trading on Wednesday, reaching $76.82. The stock had a trading volume of 560,070 shares, compared to its average volume of 652,316. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. The business has a 50 day simple moving average of $73.69 and a 200 day simple moving average of $66.85. DT Midstream has a twelve month low of $50.54 and a twelve month high of $78.83. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 18.74 and a beta of 0.74.

DT Midstream (NYSE:DTM - Get Free Report) last posted 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 the consensus estimate 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 previous year, the business earned $0.93 earnings per share. On average, analysts expect that DT Midstream will post 3.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bright Rock Capital Management LLC purchased a new position in DT Midstream in the first quarter valued at approximately $916,000. Prevail Innovative Wealth Advisors LLC raised its stake in shares of DT Midstream by 37.9% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company's stock valued at $2,316,000 after purchasing an additional 10,418 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of DT Midstream by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company's stock worth $186,407,000 after purchasing an additional 266,433 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of DT Midstream by 137.6% in the first quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company's stock valued at $1,840,000 after purchasing an additional 17,437 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in DT Midstream during the 1st quarter valued at $1,085,000. 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.