DT Midstream (NYSE:DTM) Hits New 52-Week High – Here’s What Happened

DT Midstream, Inc. (NYSE:DTM) shares hit a new 52-week high on Monday . The company 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.

Analysts Set New Price Targets

Several analysts have issued reports on DTM shares. Morgan Stanley boosted their price objective on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Stifel Nicolaus lowered shares of DT Midstream from a “buy” rating to a “hold” rating and boosted their price target for the company from $78.00 to $89.00 in a report on Wednesday, October 30th. The Goldman Sachs Group upped their price target on shares of DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Barclays increased their target price on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, DT Midstream has a consensus rating of “Hold” and an average target price of $80.44.

DT Midstream Trading Down 0.1 %

The firm has a market capitalization of $9.78 billion, a PE ratio of 24.52 and a beta of 0.71. 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 has a fifty day moving average of $85.39 and a 200-day moving average of $75.93.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The firm had revenue of $248.00 million for the quarter, compared to analysts’ expectations 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 last year, the business earned $0.94 earnings per share. On average, sell-side analysts anticipate that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in DT Midstream by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock worth $312,070,000 after purchasing an additional 490,613 shares in the last quarter. State Street Corp increased its holdings in shares of DT Midstream by 6.4% during the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after acquiring an additional 202,447 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of DT Midstream by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock valued at $162,567,000 after acquiring an additional 85,462 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in DT Midstream by 3.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock worth $82,870,000 after purchasing an additional 38,305 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in DT Midstream by 30.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after purchasing an additional 267,269 shares during the period. Institutional investors own 81.53% of the company’s stock.

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.