DT Midstream (NYSE:DTM) Hits New 12-Month High – Should You Buy?

DT Midstream, Inc. (NYSE:DTM)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $101.16 and last traded at $100.94, with a volume of 478 shares. The stock had previously closed at $100.79.

Analyst Ratings Changes

A number of research firms have weighed in on DTM. Citigroup upped their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. The Goldman Sachs Group upped their target price on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th. Barclays raised their price target on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Stifel Nicolaus downgraded shares of DT Midstream from a “buy” rating to a “hold” rating and increased their price objective for the company from $78.00 to $89.00 in a research note on Wednesday, October 30th. Finally, Morgan Stanley raised their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $80.44.

DT Midstream Stock Down 0.1 %

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 firm has a market cap of $9.78 billion, a price-to-earnings ratio of 24.52 and a beta of 0.71. The stock has a 50-day moving average of $85.39 and a 200-day moving average of $75.93.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.05). The company had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same period in the previous year, the company earned $0.94 EPS. As a group, sell-side analysts forecast that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a dividend of $0.735 per share. The ex-dividend date is Monday, December 16th. This represents a $2.94 annualized dividend and a yield of 2.92%. DT Midstream’s dividend payout ratio is currently 71.53%.

Institutional Investors Weigh In On DT Midstream

Hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. grew 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 worth $25,000 after purchasing an additional 240 shares during the last quarter. Family Firm Inc. acquired a new position in DT Midstream in the second quarter worth approximately $26,000. V Square Quantitative Management LLC bought a new position in shares of DT Midstream in the third quarter valued at $29,000. First Command Advisory Services Inc. acquired a new stake in shares of DT Midstream during the 2nd quarter valued at $31,000. Finally, American National Bank boosted its stake in shares of DT Midstream by 100.0% during the 2nd quarter. American National Bank now owns 468 shares of the company’s stock worth $33,000 after acquiring an additional 234 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors.

About DT Midstream

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.