DT Midstream (NYSE:DTM) Sets New 52-Week High After Analyst Upgrade

DT Midstream, Inc. (NYSE:DTM)’s share price hit a new 52-week high during mid-day trading on Tuesday after Barclays raised their price target on the stock from $85.00 to $92.00. Barclays currently has an overweight rating on the stock. DT Midstream traded as high as $91.50 and last traded at $91.48, with a volume of 20575 shares traded. The stock had previously closed at $89.87.

A number of other research firms have also weighed in on DTM. Stifel Nicolaus lowered DT Midstream from a “buy” rating to a “hold” rating and lifted their price objective for the company from $78.00 to $89.00 in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Wells Fargo & Company raised their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Citigroup boosted their target price on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Morgan Stanley lifted their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $81.25.

Institutional Trading of DT Midstream

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of DT Midstream by 76.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company’s stock worth $46,000 after purchasing an additional 330 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in DT Midstream by 8.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,596 shares of the company’s stock worth $403,000 after buying an additional 537 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in DT Midstream in the 1st quarter valued at about $284,000. Texas Permanent School Fund Corp grew its holdings in DT Midstream by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 84,868 shares of the company’s stock valued at $5,185,000 after buying an additional 1,158 shares during the period. Finally, TFG Advisers LLC lifted its holdings in shares of DT Midstream by 5.6% during the 1st quarter. TFG Advisers LLC now owns 5,688 shares of the company’s stock worth $348,000 after acquiring an additional 304 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Price Performance

The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50-day moving average is $81.64 and its 200-day moving average is $73.73. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 21.87 and a beta of 0.71.

DT Midstream (NYSE:DTM) last issued its earnings results 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). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The firm had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $242.64 million. During the same period last year, the business posted $0.94 earnings per share. On average, research analysts expect that DT Midstream, Inc. will post 3.96 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Monday, December 16th. DT Midstream’s payout ratio is 71.53%.

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.