DT Midstream (NYSE:DTM) Reaches New 1-Year High – Time to Buy?

DT Midstream, Inc. (NYSE:DTM) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $84.19 and last traded at $84.02, with a volume of 80881 shares trading hands. The stock had previously closed at $83.44.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Barclays lifted their price objective on DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Citigroup upped their target price on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Wells Fargo & Company lifted their price target on shares of DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their price objective on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.00.

DT Midstream Stock Performance

The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $8.34 billion, a P/E ratio of 20.69 and a beta of 0.74. The stock’s 50 day simple moving average is $77.03 and its two-hundred day simple moving average is $70.53.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The firm 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 last year, the company earned $0.93 earnings per share. As a group, research analysts expect that DT Midstream, Inc. will post 3.99 earnings per share for the current year.

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a $0.735 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.94 dividend on an annualized basis and a yield of 3.42%. DT Midstream’s dividend payout ratio is presently 70.84%.

Institutional Investors Weigh In On DT Midstream

Several large investors have recently bought and sold shares of DTM. Bright Rock Capital Management LLC acquired a new position in DT Midstream in the first quarter valued at about $916,000. Prevail Innovative Wealth Advisors LLC raised its holdings in DT Midstream by 37.9% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company’s stock worth $2,316,000 after buying an additional 10,418 shares during the period. Illinois Municipal Retirement Fund lifted its stake in DT Midstream by 137.6% in the first quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock valued at $1,840,000 after buying an additional 17,437 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of DT Midstream in the first quarter valued at approximately $1,085,000. Finally, Cetera Investment Advisers increased its position in shares of DT Midstream by 1,223.2% during the first quarter. Cetera Investment Advisers now owns 54,107 shares of the company’s stock worth $3,306,000 after acquiring an additional 50,018 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

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.