DT Midstream (NYSE:DTM) Reaches New 1-Year High – What’s Next?

DT Midstream, Inc. (NYSE:DTM)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $87.50 and last traded at $87.46, with a volume of 17614 shares traded. The stock had previously closed at $87.20.

Analyst Upgrades and Downgrades

DTM has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price objective on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Wells Fargo & Company increased their price objective on DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Barclays increased their price objective on DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Citigroup increased their price objective on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Finally, Stifel Nicolaus increased their price objective on DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $75.29.

DT Midstream Stock Performance

The company has a 50 day moving average price of $79.50 and a 200-day moving average price of $72.18. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The company has a market cap of $8.46 billion, a P/E ratio of 21.27 and a beta of 0.74.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The business had revenue of $244.00 million for the quarter, compared to analyst estimates of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same quarter in the previous year, the company posted $0.93 EPS. On average, equities analysts expect that DT Midstream, Inc. will post 3.99 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th were issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 3.37%. The ex-dividend date was Monday, September 16th. DT Midstream’s payout ratio is presently 71.71%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. UMB Bank n.a. lifted its stake in shares of DT Midstream by 324.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock valued at $25,000 after purchasing an additional 240 shares during the period. Family Firm Inc. acquired a new position in shares of DT Midstream in the 2nd quarter valued at about $26,000. Mather Group LLC. acquired a new position in shares of DT Midstream in the 1st quarter valued at about $29,000. V Square Quantitative Management LLC acquired a new position in shares of DT Midstream in the 3rd quarter valued at about $29,000. Finally, First Command Advisory Services Inc. bought a new stake in DT Midstream in the 2nd quarter valued at about $31,000. 81.53% of the stock is owned by institutional investors and hedge funds.

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.