DT Midstream Stock Gains Wells Fargo's Bullish Call: What Does DTM Mean for Investors?

DT Midstream (NYSE:DTM), commonly referred to as DTM in financial markets, operates as a midstream energy infrastructure company. On December 17, 2025, Wells Fargo analysts reaffirmed their confidence in the stock by keeping an Overweight rating on the company, signaling positive sentiment toward its near-term prospects.

Analyst Targets Point to Modest Upside Potential

Based on data as of December 6, 2025, Wall Street researchers have set an average one-year price target of $120.17 per share for DTM. This consensus forecast sits between a low estimate of $96.96 and a high of $143.85, translating to approximately 1.30% upside from the latest closing price of $118.63. The modest gain reflects measured optimism among investment professionals tracking the midstream sector.

On the operational front, DTM is projected to generate annual revenues of 1,049MM, down 10.72% from prior periods. Meanwhile, non-GAAP earnings per share (EPS) are anticipated at 4.70, providing context for the valuation being assigned to the company.

Institutional Interest Remains Strong Despite Quarter-over-Quarter Shifts

The fund community shows sustained interest in DTM, with 1,095 funds and institutions maintaining active positions as of the latest reporting period. However, this represents a slight pullback of 30 owners, or 2.67%, in the most recent quarter. Interestingly, while the number of fund holders declined, the average portfolio allocation dedicated to DTM expanded by 3.71% to reach 0.35% across all institutional portfolios. Total institutional shareholding sits at 111,623K shares, down marginally by 1.52% over the trailing three months.

The put/call ratio for DTM stands at 0.09, reflecting a decidedly bullish market stance among options traders, suggesting investors are net long the stock.

Major Fund Holders Display Mixed Activity

iShares Core S&P Mid-Cap ETF (IJH) holds the largest institutional position in DTM at 3,309K shares, commanding 3.25% ownership. The fund increased its stake by just 5 shares sequentially and boosted its portfolio weighting by 7.57% over the quarter. The Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) represents the second-largest holder with 3,260K shares accounting for 3.21% of the company. This index fund expanded its position by 2.32% while raising its portfolio allocation by 4.06%.

Among active managers, 59 North Capital Management executed the most aggressive move, escalating its DTM holdings from 2,063K to 3,074K shares—a significant 32.89% quarter-over-quarter increase. The firm simultaneously raised its portfolio allocation by 33.77%, demonstrating conviction in the midstream name.

Deutsche Bank and Goldman Sachs Group, while maintaining substantial positions of 2,890K and 2,878K shares respectively, signaled more cautious approaches. Deutsche Bank trimmed its portfolio weighting by 82.12%, while Goldman Sachs reduced allocation by 78.72%, even as the banks marginally adjusted their actual share counts upward.

Takeaway

Wells Fargo’s sustained Overweight stance on DTM underscores analyst confidence in the midstream infrastructure operator, despite the energy sector’s cyclical headwinds. With institutional ownership broadening its positions and options markets pricing in bullish conviction, DTM may warrant attention from investors seeking midstream exposure, though the modest price target upside suggests limited near-term catalyst expectations.