Michael Blum, an analyst from Wells Fargo, maintained the Buy rating on DT Midstream (DTM – Research Report). The associated price target is $118.00.
Michael Blum has given his Buy rating due to a combination of factors including DT Midstream’s increased 2025 EBITDA guidance and the expansion of its organic backlog. Despite a Q4 performance that fell short of expectations, the company has raised its 2025 EBITDA forecast significantly, indicating strong future growth potential. Additionally, DT Midstream’s announcement of two new data center projects, which are expected to enhance its service capabilities, further supports a positive outlook.
Another factor contributing to the Buy rating is the company’s strategic capital expenditure increase for 2025, which aligns with its growth objectives. Although the dividend increase was below forecast, the company maintains a solid dividend coverage ratio, suggesting financial stability. Overall, the combination of increased guidance, strategic investments, and new project developments underpins the positive recommendation.
Blum covers the Energy sector, focusing on stocks such as Kinder Morgan, Cheniere Energy, and Cheniere Energy Partners. According to TipRanks, Blum has an average return of 9.8% and a 62.17% success rate on recommended stocks.