DT Midstream (NYSE:DTM) Sets New 12-Month High at $76.78

DT Midstream, Inc. (NYSE:DTM - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $76.78 and last traded at $76.75, with a volume of 107551 shares changing hands. The stock had previously closed at $75.41.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DTM. JPMorgan Chase & Co. boosted their price objective on DT Midstream from $75.00 to $78.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Barclays boosted their price target on DT Midstream from $66.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, July 17th. Mizuho increased their price objective on DT Midstream from $57.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday, April 29th. Stifel Nicolaus upped their price target 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. Finally, Wells Fargo & Company lifted their price objective 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. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $70.00.

DT Midstream Price Performance

The firm has a market cap of $7.37 billion, a P/E ratio of 18.51 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.71. The company's 50-day moving average is $71.75 and its two-hundred day moving average is $64.82.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.06. The company had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same quarter in the prior year, the firm posted $0.93 EPS. Sell-side analysts anticipate that DT Midstream, Inc. will post 3.9 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Monday, September 16th. DT Midstream's dividend payout ratio is presently 71.71%.

Hedge Funds Weigh In On DT Midstream

Institutional investors have recently modified their holdings of the business. First Trust Advisors LP increased its position in DT Midstream by 284.6% during the 4th quarter. First Trust Advisors LP now owns 1,524,401 shares of the company's stock worth $83,537,000 after purchasing an additional 1,128,056 shares in the last quarter. Norges Bank acquired a new position in shares of DT Midstream during the fourth quarter worth $61,638,000. Dimensional Fund Advisors LP increased its holdings in shares of DT Midstream by 12.6% during the second 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 in the last quarter. AQR Capital Management LLC lifted its stake in shares of DT Midstream by 309.7% in the 2nd quarter. AQR Capital Management LLC now owns 257,101 shares of the company's stock valued at $18,262,000 after acquiring an additional 194,354 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its holdings in shares of DT Midstream by 2,658.2% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 182,121 shares of the company's stock valued at $12,936,000 after acquiring an additional 175,518 shares in 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.