DT Midstream (NYSE:DTM) Hits New 1-Year High - What's Next?

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

Analyst Upgrades and Downgrades

DTM has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of DT Midstream from $87.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Citigroup upgraded shares of DT Midstream from a "neutral" rating to a "buy" rating and boosted their price target for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Barclays began coverage on shares of DT Midstream in a report on Friday, January 10th. They set an "equal weight" rating and a $112.00 price objective for the company. Morgan Stanley increased their price target on DT Midstream from $82.00 to $92.00 and gave the stock an "underweight" rating in a research report on Friday, October 25th. Finally, The Goldman Sachs Group raised their price target on DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $95.88.

DT Midstream Trading Up 0.7 %

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a market cap of $10.60 billion, a P/E ratio of 26.54 and a beta of 0.79. The business has a 50-day moving average price of $101.94 and a two-hundred day moving average price of $86.38.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $248.00 million for 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 period in the prior year, the firm posted $0.94 earnings per share. On average, analysts predict that DT Midstream, Inc. will post 3.84 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.735 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.94 annualized dividend and a yield of 2.70%. DT Midstream's dividend payout ratio is currently 71.53%.

Institutional Trading of DT Midstream

A number of institutional investors have recently bought and sold shares of DTM. FMR LLC boosted its position in shares of DT Midstream by 1,476.9% in the 3rd quarter. FMR LLC now owns 805,950 shares of the company's stock worth $63,396,000 after purchasing an additional 754,839 shares during the last quarter. Brookfield Corp ON lifted its stake in DT Midstream by 171.3% in the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company's stock valued at $81,689,000 after buying an additional 655,695 shares during the period. International Assets Investment Management LLC bought a new position in DT Midstream during the third quarter worth about $39,166,000. Dimensional Fund Advisors LP grew its position in shares of DT Midstream by 12.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company's stock worth $312,070,000 after buying an additional 490,613 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of 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 valued at $90,978,000 after acquiring an additional 267,269 shares during the last quarter. 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.