DT Midstream (NYSE:DTM) Upgraded by Citigroup to Buy Rating

DT Midstream (NYSE:DTM) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Thursday, MarketBeat.com reports. The firm presently has a $115.00 target price on the stock, up from their previous target price of $90.00. Citigroup’s price objective would indicate a potential upside of 5.93% from the company’s previous close.

DTM has been the topic of a number of other reports. Barclays upped their target price on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Morgan Stanley increased their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted 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. Wells Fargo & Company increased their price target 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. Finally, The Goldman Sachs Group boosted their price objective on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, DT Midstream presently has an average rating of “Hold” and a consensus target price of $84.78.

DT Midstream Price Performance

DTM opened at $108.56 on Thursday. DT Midstream has a twelve month low of $51.17 and a twelve month high of $109.85. The firm has a market cap of $10.55 billion, a price-to-earnings ratio of 26.41 and a beta of 0.71. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $88.36 and a 200 day simple moving average of $77.20.

DT Midstream (NYSE:DTM) last announced its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share 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 business had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. During the same quarter in the prior year, the business earned $0.94 earnings per share. Equities research analysts expect that DT Midstream will post 3.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DTM. UMB Bank n.a. boosted its holdings 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 valued at $25,000 after acquiring an additional 240 shares during the period. V Square Quantitative Management LLC bought a new stake in DT Midstream in the 3rd quarter valued at about $29,000. Family Firm Inc. acquired a new position in DT Midstream during the 2nd quarter valued at about $26,000. First Command Advisory Services Inc. bought a new position in DT Midstream in the 2nd quarter worth about $31,000. Finally, American National Bank grew its position in DT Midstream by 100.0% in the 2nd quarter. American National Bank now owns 468 shares of the company’s stock worth $33,000 after purchasing an additional 234 shares during the last quarter. 81.53% of the stock is currently 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.