DT Midstream (NYSE:DTM) Reaches New 52-Week High – Should You Buy?

DT Midstream, Inc. (NYSE:DTM)’s share price reached a new 52-week high on Monday . The company traded as high as $99.07 and last traded at $98.93, with a volume of 15470 shares trading hands. The stock had previously closed at $97.89.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DTM. Barclays increased their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. 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. The Goldman Sachs Group raised their target price on shares of DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. Citigroup upped their price target on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus downgraded shares of DT Midstream from a “buy” rating to a “hold” rating and lifted their price objective for the company from $78.00 to $89.00 in a research report on Wednesday, October 30th. Two investment analysts have 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, DT Midstream presently has an average rating of “Hold” and a consensus price target of $80.44.

DT Midstream Stock Performance

The stock has a 50 day moving average of $83.99 and a 200 day moving average of $75.14. The company has a market capitalization of $9.70 billion, a price-to-earnings ratio of 24.28 and a beta of 0.71. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM) last issued 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). 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 quarter in the previous year, the business posted $0.94 earnings per share. As a group, analysts predict that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Dividend Announcement

The business also recently disclosed 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 2.95%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is 71.53%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its stake in DT Midstream by 76.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company’s stock valued at $46,000 after purchasing an additional 330 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in DT Midstream during the 1st quarter worth approximately $293,000. State Board of Administration of Florida Retirement System boosted its holdings in DT Midstream by 3.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 107,455 shares of the company’s stock worth $6,566,000 after acquiring an additional 3,522 shares in the last quarter. Blair William & Co. IL grew its stake in DT Midstream by 4.0% in the first quarter. Blair William & Co. IL now owns 6,258 shares of the company’s stock valued at $382,000 after acquiring an additional 243 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC raised its position in shares of DT Midstream by 37.9% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company’s stock worth $2,316,000 after purchasing an additional 10,418 shares during the period. Institutional investors and hedge funds 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.