DT Midstream (NYSE:DTM) Sets New 12-Month High After Dividend Announcement

Shares of DT Midstream, Inc. (NYSE:DTM - Get Free Report) hit a new 52-week high on Wednesday after the company announced a dividend. The company traded as high as $90.75 and last traded at $89.97, with a volume of 82533 shares changing hands. The stock had previously closed at $89.30.

The newly announced 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 of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 3.23%. DT Midstream's payout ratio is 71.53%.

Analyst Upgrades and Downgrades

DTM has been the subject of a number of analyst reports. Barclays raised their price objective on DT Midstream from $76.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday, October 3rd. Wells Fargo & Company boosted their price target on shares of 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 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. JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $78.00 to $83.00 and gave the company a "neutral" rating in a research report on Friday, October 4th. Finally, Stifel Nicolaus downgraded DT Midstream from a "buy" rating to a "hold" rating and boosted their price objective for the company from $78.00 to $89.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $78.75.

DT Midstream Price Performance

The business has a 50-day moving average price of $80.52 and a two-hundred day moving average price of $72.95. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 22.23 and a beta of 0.74.

DT Midstream (NYSE:DTM - Get Free Report) last released 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 business had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same quarter in the previous year, the company posted $0.94 EPS. As a group, research analysts anticipate that DT Midstream, Inc. will post 3.99 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. UMB Bank n.a. grew its position in DT Midstream by 324.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company's stock worth $25,000 after purchasing an additional 240 shares in the last quarter. Family Firm Inc. bought a new position in shares of DT Midstream in the second quarter valued at approximately $26,000. V Square Quantitative Management LLC purchased a new stake in shares of DT Midstream during the third quarter valued at approximately $29,000. First Command Advisory Services Inc. purchased a new position in DT Midstream in the second quarter worth $31,000. Finally, American National Bank grew its stake in DT Midstream by 100.0% in the 2nd quarter. American National Bank now owns 468 shares of the company's stock valued at $33,000 after purchasing an additional 234 shares during the period. Hedge funds and other 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.