Wells Fargo & Company Issues Pessimistic Forecast for DT Midstream (NYSE:DTM) Stock Price

DT Midstream (NYSE:DTM) had its target price cut by stock analysts at Wells Fargo & Company from $118.00 to $108.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 14.44% from the company’s previous close.

Several other research firms have also commented on DTM. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and upped their price target for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Stifel Nicolaus dropped their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Raymond James lifted their price objective on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Barclays assumed coverage on 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. Two 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 a consensus price target of $102.00.

DT Midstream Stock Performance

NYSE:DTM traded up $1.45 during midday trading on Friday, hitting $94.38. The company’s stock had a trading volume of 773,506 shares, compared to its average volume of 982,933. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream has a fifty-two week low of $57.12 and a fifty-two week high of $114.50. The firm’s 50 day moving average is $102.73 and its 200-day moving average is $92.95. The firm has a market cap of $9.17 billion, a P/E ratio of 22.98 and a beta of 0.79.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DTM. Vanguard Group Inc. raised its position in shares of DT Midstream by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock valued at $1,049,363,000 after buying an additional 359,017 shares during the last quarter. State Street Corp increased its stake in shares of DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after acquiring an additional 202,447 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of DT Midstream by 5.5% during the 4th quarter. Deutsche Bank AG now owns 2,831,830 shares of the company’s stock worth $281,569,000 after acquiring an additional 147,790 shares during the period. Geode Capital Management LLC boosted its position in shares of DT Midstream by 18.7% during the 4th quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company’s stock valued at $243,948,000 after acquiring an additional 386,670 shares during the last quarter. Finally, Blackstone Inc. grew its holdings in shares of DT Midstream by 2,783.1% in the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock valued at $162,199,000 after purchasing an additional 1,574,705 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

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.