JPMorgan Chase & Co. Forecasts Strong Price Appreciation for DT Midstream (NYSE:DTM) Stock

DT Midstream (NYSE:DTM) had its target price lifted by JPMorgan Chase & Co. from $109.00 to $115.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 3.18% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus raised shares of DT Midstream from a “hold” rating to a “buy” rating and raised their price target for the stock from $89.00 to $106.00 in a research note on Thursday, December 19th. Barclays initiated coverage on shares of DT Midstream in a research report on Friday, January 10th. They set an “equal weight” rating and a $112.00 target price on the stock. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and increased their price target for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. The Goldman Sachs Group lifted their price objective on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company upped their target price on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, DT Midstream has a consensus rating of “Hold” and an average price target of $99.88.

DT Midstream Trading Up 0.1 %

Shares of DT Midstream stock opened at $111.46 on Friday. DT Midstream has a 1 year low of $51.17 and a 1 year high of $114.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50 day moving average price of $104.05 and a 200 day moving average price of $88.61. The company has a market capitalization of $10.83 billion, a P/E ratio of 27.12 and a beta of 0.79.

DT Midstream (NYSE:DTM) last released 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). The company had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same period last year, the firm earned $0.94 earnings per share. Sell-side analysts anticipate that DT Midstream will post 3.84 EPS for the current fiscal year.

Hedge Funds Weigh In On DT Midstream

Several hedge funds and other institutional investors have recently modified their holdings of DTM. FMR LLC raised its holdings in DT Midstream by 1,476.9% in the third quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after buying an additional 754,839 shares during the period. Brookfield Corp ON increased its position in shares of DT Midstream by 171.3% in the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after acquiring an additional 655,695 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of DT Midstream in the 3rd quarter valued at $39,166,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of DT Midstream by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock valued at $90,978,000 after acquiring an additional 267,269 shares in the last quarter. Finally, State Street Corp boosted its position in DT Midstream by 6.4% during the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after purchasing an additional 202,447 shares during the period. 81.53% of the stock is 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.