DT Midstream (NYSE:DTM) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

DT Midstream (NYSE:DTM) had its price objective hoisted by stock analysts at The Goldman Sachs Group from $74.00 to $94.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective points to a potential downside of 6.85% from the stock’s current price.

Other analysts have also issued reports about the stock. Stifel Nicolaus upgraded shares of DT Midstream from a “hold” rating to a “buy” rating and upped their target price for the stock from $89.00 to $106.00 in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Wells Fargo & Company lifted their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and increased their target price for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Finally, Barclays lifted their price target on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, DT Midstream currently has a consensus rating of “Hold” and an average price target of $88.89.

DT Midstream Price Performance

DT Midstream stock opened at $100.91 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream has a 52-week low of $51.17 and a 52-week high of $109.85. The firm has a market cap of $9.80 billion, a PE ratio of 24.55 and a beta of 0.77. The company’s 50 day moving average is $96.95 and its two-hundred day moving average is $82.18.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The company had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same quarter in the previous year, the business posted $0.94 earnings per share. On average, research analysts expect that DT Midstream will post 3.84 EPS for the current fiscal year.

Institutional Investors Weigh In On DT Midstream

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. grew its position in shares of DT Midstream by 324.3% during the third quarter. UMB Bank n.a. now owns 314 shares of the company’s stock worth $25,000 after acquiring an additional 240 shares during the last quarter. Family Firm Inc. purchased a new position in DT Midstream during the 2nd quarter worth $26,000. V Square Quantitative Management LLC acquired a new position in DT Midstream in the third quarter valued at $29,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of DT Midstream in the third quarter valued at about $29,000. Finally, First Command Advisory Services Inc. purchased a new stake in shares of DT Midstream in the second quarter valued at about $31,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

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.