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 trading on Thursday . The company traded as high as $87.50 and last traded at $87.46, with a volume of 17614 shares trading hands. The stock had previously closed at $87.20.

Wall Street Analyst Weigh In

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

DT Midstream Price Performance

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 business has a fifty day simple moving average of $79.50 and a 200 day simple moving average of $72.18. The stock has a market capitalization of $8.46 billion, a P/E ratio of 21.27 and a beta of 0.74.

DT Midstream (NYSE:DTM) last released its earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.06. The company had revenue of $244.00 million during 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 period in the prior year, the company posted $0.93 earnings per share. On average, analysts expect that DT Midstream, Inc. will post 3.99 earnings per share for the current year.

DT Midstream Announces Dividend

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

Hedge Funds Weigh In On DT Midstream

Several institutional investors have recently modified their holdings of DTM. Mather Group LLC. bought a new position in shares of DT Midstream in the first quarter valued at approximately $29,000. Global Assets Advisory LLC bought a new position in shares of DT Midstream in the first quarter valued at approximately $1,870,000. Allspring Global Investments Holdings LLC grew its holdings in shares of DT Midstream by 76.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company’s stock valued at $46,000 after acquiring an additional 330 shares in the last quarter. State of Michigan Retirement System lifted its stake in DT Midstream by 2.6% in the first quarter. State of Michigan Retirement System now owns 23,855 shares of the company’s stock valued at $1,458,000 after purchasing an additional 600 shares during the last quarter. Finally, Maryland State Retirement & Pension System lifted its stake in DT Midstream by 1.5% in the first quarter. Maryland State Retirement & Pension System now owns 90,197 shares of the company’s stock valued at $5,592,000 after purchasing an additional 1,369 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

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.