Wells Fargo & Company Has Lowered Expectations for DT Midstream (NYSE:DTM) Stock Price

DT Midstream (NYSE:DTM) had its price objective decreased by research analysts at Wells Fargo & Company from $118.00 to $108.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 12.46% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. The Goldman Sachs Group raised their price objective on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Barclays initiated coverage on DT Midstream in a research note on Friday, January 10th. They set an “equal weight” rating and a $112.00 target price on the stock. Raymond James lifted their target price on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, DT Midstream has an average rating of “Hold” and a consensus target price of $102.00.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $96.03 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $102.63 and its two-hundred day simple moving average is $93.26. DT Midstream has a 1-year low of $57.12 and a 1-year high of $114.50. The stock has a market cap of $9.33 billion, a PE ratio of 23.37 and a beta of 0.79.

Institutional Investors Weigh In On DT Midstream

Several large investors have recently added to or reduced their stakes in the company. Brooklyn FI LLC purchased a new stake in DT Midstream in the 4th quarter worth about $463,000. Jefferies Financial Group Inc. purchased a new stake in DT Midstream in the 4th quarter worth about $242,000. Bernard Wealth Management Corp. purchased a new stake in DT Midstream in the 4th quarter worth about $1,663,000. WNY Asset Management LLC purchased a new stake in DT Midstream in the 4th quarter worth about $217,000. Finally, Forum Financial Management LP increased its holdings in DT Midstream by 5.1% in the 4th quarter. Forum Financial Management LP now owns 3,391 shares of the company’s stock worth $337,000 after acquiring an additional 165 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, 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.