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 Tuesday . The stock traded as high as $113.55 and last traded at $112.96, with a volume of 606 shares trading hands. The stock had previously closed at $112.48.

Analysts Set New Price Targets

Several research firms recently issued reports on DTM. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and increased their target price for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. JPMorgan Chase & Co. increased their target price on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Morgan Stanley increased their target price on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. The Goldman Sachs Group increased their target price on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Finally, Barclays began coverage on DT Midstream in a research note on Friday, January 10th. They set an “equal weight” rating and a $112.00 target price on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $95.88.

DT Midstream Stock Down 2.2 %

The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $10.81 billion, a price-to-earnings ratio of 27.07 and a beta of 0.79. The firm has a 50-day moving average price of $103.59 and a two-hundred day moving average price of $88.02.

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 business had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. During the same period last year, the business posted $0.94 EPS. On average, sell-side analysts forecast that DT Midstream, Inc. will post 3.84 earnings per share for the current year.

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were paid a dividend of $0.735 per share. The ex-dividend date was Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 2.64%. DT Midstream’s dividend payout ratio is presently 71.53%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DTM. Envestnet Asset Management Inc. grew its stake in DT Midstream by 15.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock worth $8,657,000 after buying an additional 16,171 shares during the last quarter. Renaissance Technologies LLC grew its stake in DT Midstream by 1.7% during the 2nd quarter. Renaissance Technologies LLC now owns 60,100 shares of the company’s stock worth $4,269,000 after buying an additional 1,000 shares during the last quarter. AE Wealth Management LLC grew its stake in shares of DT Midstream by 31.9% in the 2nd quarter. AE Wealth Management LLC now owns 6,875 shares of the company’s stock valued at $488,000 after purchasing an additional 1,663 shares during the last quarter. Sei Investments Co. grew its stake in shares of DT Midstream by 50.6% in the 2nd quarter. Sei Investments Co. now owns 145,829 shares of the company’s stock valued at $10,358,000 after purchasing an additional 49,018 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of DT Midstream by 185.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,754 shares of the company’s stock valued at $208,000 after purchasing an additional 1,789 shares during the last quarter. Hedge funds and other 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.