DT Midstream (NYSE:DTM) Hits New 52-Week High – Still a Buy?

DT Midstream, Inc. (NYSE:DTM)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $110.21 and last traded at $109.65, with a volume of 21447 shares traded. The stock had previously closed at $108.32.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DTM shares. Wells Fargo & Company lifted their price target on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Barclays assumed coverage on shares of DT Midstream in a report on Friday, January 10th. They set an “equal weight” rating and a $112.00 target price for the company. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and upped their price target for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. Morgan Stanley lifted their price objective on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group boosted their target price on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $95.88.

DT Midstream Trading Up 1.0 %

The stock has a fifty day simple moving average of $101.94 and a 200 day simple moving average of $86.38. 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 $10.63 billion, a P/E ratio of 26.63 and a beta of 0.79.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.05). The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter in the previous year, the business posted $0.94 earnings per share. On average, research analysts expect that DT Midstream, Inc. will post 3.84 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Monday, December 16th. DT Midstream’s payout ratio is currently 71.53%.

Hedge Funds Weigh In On DT Midstream

A number of institutional investors and hedge funds have recently made changes to their positions in DTM. Dimensional Fund Advisors LP raised its position 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 acquiring an additional 490,613 shares during the period. State Street Corp increased its stake in shares of DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after purchasing an additional 202,447 shares in the last quarter. Geode Capital Management LLC raised its holdings in DT Midstream by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock worth $162,567,000 after purchasing an additional 85,462 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in DT Midstream by 30.1% in the 3rd 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. Finally, Brookfield Corp ON lifted its position in DT Midstream by 171.3% during the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after purchasing an additional 655,695 shares in 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.