DT Midstream (NYSE:DTM) Hits New 1-Year High - Here's Why

DT Midstream, Inc. (NYSE:DTM - Get Free Report)'s share price hit 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 changing hands. The stock had previously closed at $97.89.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $78.00 to $83.00 and gave the company a "neutral" rating in a report on Friday, October 4th. The Goldman Sachs Group raised their price objective on shares of DT Midstream from $66.00 to $74.00 and gave the stock a "sell" rating in a report on Tuesday, November 5th. Morgan Stanley raised their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an "underweight" rating in a report on Friday, October 25th. Barclays raised their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Finally, Wells Fargo & Company raised their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $80.44.

DT Midstream Stock Performance

The firm's 50-day moving average price is $83.54 and its 200 day moving average price is $74.89. 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 company has a market cap of $9.70 billion, a price-to-earnings ratio of 24.29 and a beta of 0.71.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 EPS 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 quarter in the prior year, the firm earned $0.94 EPS. On average, sell-side analysts anticipate that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.95%. The ex-dividend date is Monday, December 16th. DT Midstream's payout ratio is 71.53%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DTM. International Assets Investment Management LLC bought a new position in DT Midstream in the third quarter valued at approximately $39,166,000. Dimensional Fund Advisors LP raised its holdings in shares of DT Midstream by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company's stock valued at $312,070,000 after purchasing an additional 490,613 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of DT Midstream by 309.7% in the second quarter. AQR Capital Management LLC now owns 257,101 shares of the company's stock valued at $18,262,000 after purchasing an additional 194,354 shares during the last quarter. Duff & Phelps Investment Management Co. raised its holdings in shares of DT Midstream by 2,658.2% in the second quarter. Duff & Phelps Investment Management Co. now owns 182,121 shares of the company's stock valued at $12,936,000 after purchasing an additional 175,518 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of DT Midstream in the second quarter valued at approximately $6,309,000. 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.