DT Midstream (NYSE:DTM) Sets New 12-Month High on Analyst Upgrade

DT Midstream, Inc. (NYSE:DTM) hit a new 52-week high 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 changing hands. The stock had previously closed at $89.87.

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

Institutional Trading of DT Midstream

Several hedge funds and other institutional investors have recently modified their holdings of DTM. UMB Bank n.a. boosted its position in shares of DT Midstream by 324.3% in the third quarter. UMB Bank n.a. now owns 314 shares of the company’s stock valued at $25,000 after acquiring an additional 240 shares during the period. Family Firm Inc. bought a new stake in shares of DT Midstream in the second quarter valued at about $26,000. V Square Quantitative Management LLC bought a new stake in shares of DT Midstream in the 3rd quarter worth approximately $29,000. First Command Advisory Services Inc. acquired a new stake in DT Midstream during the second quarter worth $31,000. Finally, American National Bank boosted its position in shares of DT Midstream by 100.0% during the 2nd quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after acquiring an additional 234 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Performance

The stock has a fifty day moving average price of $81.64 and a 200-day moving average price of $73.73. 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 capitalization of $8.90 billion, a price-to-earnings ratio of 21.87 and a beta of 0.71.

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

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $0.735 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.94 annualized dividend and a yield of 3.21%. DT Midstream’s dividend payout ratio (DPR) is presently 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.