DT Midstream (NYSE:DTM) Stock Price Target Cut by Scotiabank

DT Midstream (NYSE:DTM) had its price objective dropped by investment analysts at Scotiabank from $165.00 to $161.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank‘s price objective indicates a potential upside of 29.30% from the stock’s current price.

Several other equities analysts also recently commented on DTM. Mizuho dropped their price target on shares of DT Midstream from $153.00 to $147.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Wolfe Research raised shares of DT Midstream from a “peer perform” rating to an “outperform” rating and set a $145.00 target price on the stock in a report on Wednesday, August 26th. JPMorgan Chase & Co. upped their target price on DT Midstream from $146.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Wall Street Zen cut shares of DT Midstream from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Wells Fargo & Company lifted their price objective on shares of DT Midstream from $165.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.00.

DT Midstream Stock Up 2.9%

DTM stock traded up $3.54 on Tuesday, hitting $124.52. 318,743 shares of the company’s stock were exchanged, compared to its average volume of 841,316. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.37 and a current ratio of 1.37. DT Midstream has a 12-month low of $109.12 and a 12-month high of $152.88. The stock has a market cap of $12.70 billion, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 1.74 and a beta of 0.72. The firm has a 50 day moving average price of $125.55 and a two-hundred day moving average price of $134.63.

DT Midstream (NYSE:DTM) last posted its earnings results on Thursday, October 29th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. The company had revenue of $336.00 million during the quarter, compared to the consensus estimate of $337.63 million. DT Midstream had a net margin of 35.72% and a return on equity of 9.58%. During the same period in the previous year, the firm posted $1.13 earnings per share. As a group, equities research analysts expect that DT Midstream will post 4.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Alps Advisors Inc. lifted its stake in DT Midstream by 21.5% during the 3rd quarter. Alps Advisors Inc. now owns 287,181 shares of the company’s stock valued at $34,310,000 after acquiring an additional 50,721 shares in the last quarter. CenterBook Partners LP purchased a new stake in shares of DT Midstream during the 3rd quarter worth approximately $341,000. Conestoga Capital Advisors LLC raised its holdings in shares of DT Midstream by 41.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 70,610 shares of the company’s stock worth $8,436,000 after purchasing an additional 20,750 shares during the period. Covestor Ltd raised its holdings in shares of DT Midstream by 190.4% in the 3rd quarter. Covestor Ltd now owns 212 shares of the company’s stock worth $25,000 after purchasing an additional 139 shares during the period. Finally, Hennessy Advisors Inc. lifted its stake in DT Midstream by 0.5% in the third quarter. Hennessy Advisors Inc. now owns 154,280 shares of the company’s stock valued at $18,432,000 after purchasing an additional 800 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Company Profile

DT Midstream, Inc (NYSE: DTM) is an independent North American energy company focused on the transportation, storage and gathering of natural gas. The company owns and operates interstate and intrastate pipeline systems, natural gas storage facilities, and gathering and processing infrastructure that connect producers with utilities, power generators, industrial customers and other energy markets.

DT Midstream’s operations are concentrated in the United States, including the Midwest, Northeast and Gulf Coast regions.