DT Midstream (NYSE:DTM) Downgraded by Wall Street Zen to “Sell”

DT Midstream (NYSE:DTM) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

DTM has been the topic of a number of other research reports. UBS Group upped their price target on DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Bank of America boosted their target price on DT Midstream from $118.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. upped their target price on DT Midstream from $126.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Morgan Stanley raised their price target on DT Midstream from $137.00 to $139.00 and gave the company an “underweight” rating in a research report on Tuesday, February 10th. Finally, Stifel Nicolaus set a $137.00 price target on DT Midstream and gave the stock a “hold” rating in a research note on Monday, February 23rd. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, DT Midstream presently has an average rating of “Hold” and a consensus price target of $144.10.

DT Midstream Stock Down 1.4%

Shares of NYSE DTM opened at $135.21 on Friday. The stock has a market capitalization of $13.75 billion, a price-to-earnings ratio of 31.37, a price-to-earnings-growth ratio of 2.84 and a beta of 0.75. DT Midstream has a 52 week low of $83.30 and a 52 week high of $143.67. The firm has a 50-day moving average price of $132.67 and a 200 day moving average price of $120.79. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

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

Insider Transactions at DT Midstream

In related news, CFO Jeffrey A. Jewell bought 185 shares of DT Midstream stock in a transaction that occurred on Wednesday, February 25th. The shares were purchased at an average price of $136.33 per share, with a total value of $25,221.05. Following the purchase, the chief financial officer owned 89,583 shares in the company, valued at $12,212,850.39. This represents a 0.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On DT Midstream

Several hedge funds have recently bought and sold shares of DTM. Royal Bank of Canada raised its holdings 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 worth $8,711,000 after acquiring an additional 16,043 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of DT Midstream by 1.6% during the first quarter. NewEdge Advisors LLC now owns 13,631 shares of the company’s stock valued at $1,315,000 after acquiring an additional 218 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in DT Midstream by 13.1% during 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 purchasing an additional 31,894 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in DT Midstream by 39.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock valued at $42,000 after purchasing an additional 123 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in DT Midstream by 34.3% in the 2nd quarter. Prudential Financial Inc. now owns 13,283 shares of the company’s stock valued at $1,460,000 after purchasing an additional 3,391 shares during the last quarter. Hedge funds and other institutional investors 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.