DT Midstream (NYSE:DTM) Given New $94.00 Price Target at The Goldman Sachs Group

DT Midstream (NYSE:DTM) had its target price lifted by equities researchers at The Goldman Sachs Group from $74.00 to $94.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s target price suggests a potential downside of 6.85% from the company’s previous close.

Several other brokerages have also recently commented on DTM. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and raised their price objective for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Stifel Nicolaus raised shares of DT Midstream from a “hold” rating to a “buy” rating and increased their target price for the company from $89.00 to $106.00 in a report on Thursday. Barclays boosted their price target on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. raised their price objective on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Finally, Morgan Stanley lifted their price objective on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $88.89.

DT Midstream Stock Performance

Shares of DTM stock opened at $100.91 on Thursday. 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 stock has a 50 day simple moving average of $96.95 and a 200-day simple moving average of $82.18. The company has a market cap of $9.80 billion, a price-to-earnings ratio of 24.55 and a beta of 0.77. DT Midstream has a 12-month low of $51.17 and a 12-month high of $109.85.

DT Midstream (NYSE:DTM) last released 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 return on equity of 9.31% and a net margin of 41.19%. The business had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $242.64 million. During the same quarter in the previous year, the company posted $0.94 EPS. On average, equities analysts forecast that DT Midstream will post 3.84 EPS for the current year.

Institutional Trading of DT Midstream

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in DT Midstream in the 2nd quarter valued at about $252,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of DT Midstream by 20.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,572 shares of the company’s stock valued at $609,000 after buying an additional 1,464 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in DT Midstream during the second quarter worth approximately $234,000. Blue Trust Inc. grew its stake in DT Midstream by 16.0% in the 2nd quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock worth $73,000 after acquiring an additional 142 shares during the period. Finally, Raymond James & Associates raised its holdings in DT Midstream by 1.1% in the 2nd quarter. Raymond James & Associates now owns 18,148 shares of the company’s stock valued at $1,289,000 after acquiring an additional 201 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Company Profile

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.