The Goldman Sachs Group Forecasts Strong Price Appreciation for DT Midstream (NYSE:DTM) Stock

DT Midstream (NYSE:DTM) had its price objective raised by The Goldman Sachs Group from $74.00 to $94.00 in a report published on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

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

DT Midstream Price Performance

Shares of DTM opened at $97.53 on Thursday. The company’s 50-day moving average is $96.65 and its 200-day moving average is $81.94. 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 firm has a market capitalization of $9.48 billion, a PE ratio of 23.73 and a beta of 0.77. DT Midstream has a fifty-two week low of $51.17 and a fifty-two week high of $109.85.

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 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 the consensus estimate of $242.64 million. During the same period in the prior year, the company earned $0.94 earnings per share. Equities analysts forecast that DT Midstream will post 3.84 EPS for the current year.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a $0.735 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 annualized dividend and a yield of 3.01%. DT Midstream’s dividend payout ratio is presently 71.53%.

Institutional Trading of DT Midstream

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