DT Midstream (NYSE:DTM) Sets New 12-Month High - Still a Buy?

DT Midstream, Inc. (NYSE:DTM - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $84.19 and last traded at $84.02, with a volume of 80881 shares. The stock had previously closed at $83.44.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DTM. JPMorgan Chase & Co. raised 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. Stifel Nicolaus raised their target price 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. Wells Fargo & Company upped their price target on DT Midstream from $77.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. Citigroup increased their price objective on DT Midstream from $62.00 to $76.00 and gave the company a "neutral" rating in a report on Wednesday, September 4th. Finally, Barclays upped their target price on DT Midstream from $76.00 to $85.00 and gave the company an "overweight" rating in a research report on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $73.00.

DT Midstream Price Performance

The stock has a fifty day moving average of $76.68 and a 200 day moving average of $70.34. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 20.35 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 0.84.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. The business had revenue of $244.00 million during the quarter, compared to analysts' expectations of $236.83 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same period in the previous year, the business posted $0.93 EPS. On average, analysts expect that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Monday, September 16th. DT Midstream's dividend payout ratio is currently 71.71%.

Hedge Funds Weigh In On DT Midstream

Institutional investors and hedge funds have recently modified their holdings of the stock. UMB Bank n.a. grew its holdings in DT Midstream by 324.3% during the third quarter. UMB Bank n.a. now owns 314 shares of the company's stock worth $25,000 after acquiring an additional 240 shares during the period. Family Firm Inc. acquired a new stake in shares of DT Midstream during the 2nd quarter worth approximately $26,000. Mather Group LLC. purchased a new position in shares of DT Midstream during the 1st quarter valued at approximately $29,000. First Command Advisory Services Inc. acquired a new position in shares of DT Midstream in the 2nd quarter valued at $31,000. Finally, American National Bank boosted its holdings in DT Midstream by 100.0% during the second quarter. American National Bank now owns 468 shares of the company's stock worth $33,000 after buying an additional 234 shares in the last quarter. Institutional investors and hedge funds 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.

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