DT Midstream (NYSE:DTM) Sets New 12-Month High at $64.21

DT Midstream, Inc. (NYSE:DTM) reached a new 52-week high during trading on Wednesday . The stock traded as high as $64.21 and last traded at $64.17, with a volume of 748911 shares trading hands. The stock had previously closed at $63.08.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DTM. Wolfe Research upgraded DT Midstream from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, February 20th. Mizuho reiterated a “neutral” rating and set a $57.00 price objective (down previously from $58.00) on shares of DT Midstream in a research note on Friday, January 5th. Finally, Barclays upped their price objective on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, DT Midstream presently has a consensus rating of “Hold” and a consensus price target of $58.50.

DT Midstream Price Performance

The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 15.97 and a beta of 0.73. The business has a fifty day moving average of $59.37 and a two-hundred day moving average of $56.37.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Friday, February 16th. The company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.32. The company had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $235.19 million. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. During the same quarter last year, the business earned $0.93 earnings per share. As a group, research analysts predict that DT Midstream, Inc. will post 3.86 EPS for the current fiscal year.

DT Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 18th were paid a $0.735 dividend. The ex-dividend date was Friday, March 15th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.69. This represents a $2.94 annualized dividend and a yield of 4.58%. DT Midstream’s dividend payout ratio (DPR) is 74.43%.

Insider Activity at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $56.87 per share, with a total value of $56,870.00. Following the completion of the purchase, the director now directly owns 37,289 shares of the company’s stock, valued at approximately $2,120,625.43. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by insiders.

Institutional Trading of DT Midstream

A number of hedge funds have recently made changes to their positions in the company. IFP Advisors Inc raised its position in shares of DT Midstream by 101.6% during the third quarter. IFP Advisors Inc now owns 6,168 shares of the company’s stock worth $326,000 after acquiring an additional 3,108 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of DT Midstream by 24.5% during the third quarter. Exchange Traded Concepts LLC now owns 113,509 shares of the company’s stock worth $6,007,000 after acquiring an additional 22,306 shares during the last quarter. Miller Howard Investments Inc. NY increased its holdings in DT Midstream by 2.5% in the third quarter. Miller Howard Investments Inc. NY now owns 170,711 shares of the company’s stock worth $9,034,000 after purchasing an additional 4,127 shares in the last quarter. Hennessy Advisors Inc. increased its holdings in DT Midstream by 5.0% in the third quarter. Hennessy Advisors Inc. now owns 183,800 shares of the company’s stock worth $9,727,000 after purchasing an additional 8,800 shares in the last quarter. Finally, SS&H Financial Advisors Inc. bought a new stake in DT Midstream in the third quarter worth approximately $348,000. 81.53% of the stock is owned by institutional investors and hedge funds.

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.