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

DT Midstream (NYSE:DTM - Get Free Report) was downgraded by investment analysts at Stifel Nicolaus from a "buy" rating to a "hold" rating in a report released on Wednesday, MarketBeat reports. They presently have a $89.00 price objective on the stock, up from their prior price objective of $78.00. Stifel Nicolaus' target price indicates a potential downside of 2.13% from the stock's previous close.

A number of other equities research analysts have also weighed in on the stock. 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. 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. Morgan Stanley upped their price target on shares of DT Midstream from $82.00 to $92.00 and gave the company an "underweight" rating in a report on Friday, October 25th. Citigroup raised 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. Finally, JPMorgan Chase & Co. upped their target price on shares of DT Midstream from $78.00 to $83.00 and gave the company a "neutral" rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, DT Midstream presently has an average rating of "Hold" and an average target price of $78.75.

DT Midstream Trading Up 1.8 %

DTM traded up $1.64 during trading on Wednesday, hitting $90.94. 1,080,804 shares of the company's stock were exchanged, compared to its average volume of 641,333. The stock has a 50 day moving average price of $80.52 and a 200 day moving average price of $72.95. DT Midstream has a 1 year low of $51.17 and a 1 year high of $91.50. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The firm has a market cap of $8.83 billion, a P/E ratio of 22.23 and a beta of 0.74.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $0.95 by ($0.05). DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The business had revenue of $248.00 million for the quarter, compared to analysts' expectations of $242.64 million. During the same period last year, the company posted $0.94 earnings per share. As a group, analysts expect that DT Midstream will post 3.99 EPS for the current fiscal year.

Hedge Funds Weigh In On DT Midstream

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

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.