DT Midstream (NYSE:DTM) Rating Lowered to Sell at Wall Street Zen

DT Midstream (NYSE:DTM) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other research firms also recently weighed in on DTM. Citigroup increased their price target on shares of DT Midstream from $130.00 to $156.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Wells Fargo & Company restated an “overweight” rating and set a $150.00 price objective on shares of DT Midstream in a report on Sunday, February 22nd. Stifel Nicolaus set a $137.00 target price on DT Midstream and gave the company a “hold” rating in a report on Monday, February 23rd. Barclays boosted their price target on DT Midstream from $119.00 to $141.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their price target on DT Midstream from $126.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $139.64.

DT Midstream Trading Down 0.1%

NYSE DTM opened at $141.67 on Friday. The company has a market cap of $14.41 billion, a P/E ratio of 32.87, a P/E/G ratio of 2.89 and a beta of 0.75. DT Midstream has a 12 month low of $83.30 and a 12 month high of $143.15. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. The company has a 50-day moving average of $127.37 and a 200-day moving average of $117.51.

DT Midstream (NYSE:DTM) last released its earnings results on Thursday, February 19th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.03). DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.The company had revenue of $317.00 million during the quarter, compared to analyst estimates of $320.07 million. During the same period in the prior year, the business posted $0.94 earnings per share. As a group, equities analysts predict that DT Midstream will post 3.8 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jeffrey A. Jewell purchased 185 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average cost of $136.33 per share, for a total transaction of $25,221.05. Following the acquisition, the chief financial officer owned 89,583 shares in the company, valued at approximately $12,212,850.39. This trade represents a 0.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in shares of DT Midstream by 21.6% in the first quarter. Royal Bank of Canada now owns 90,286 shares of the company’s stock valued at $8,711,000 after buying an additional 16,043 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in DT Midstream by 1.6% in the 1st quarter. NewEdge Advisors LLC now owns 13,631 shares of the company’s stock worth $1,315,000 after acquiring an additional 218 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in DT Midstream by 13.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,241 shares of the company’s stock worth $26,652,000 after acquiring an additional 31,894 shares during the period. Geneos Wealth Management Inc. grew its position in DT Midstream by 39.3% in the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock valued at $42,000 after acquiring an additional 123 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in DT Midstream by 12.6% in the second quarter. First Horizon Advisors Inc. now owns 1,621 shares of the company’s stock valued at $178,000 after acquiring an additional 182 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Company Profile

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.