DT Midstream (NYSE:DTM) Sets New 1-Year High After Analyst Upgrade

DT Midstream, Inc. (NYSE:DTM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $66.00 to $74.00. The Goldman Sachs Group currently has a sell rating on the stock. DT Midstream traded as high as $91.50 and last traded at $91.48, with a volume of 20575 shares. The stock had previously closed at $89.87.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their price target on DT Midstream from $78.00 to $83.00 and gave the stock a "neutral" rating in a report on Friday, October 4th. Stifel Nicolaus cut shares of DT Midstream from a "buy" rating to a "hold" rating and increased their price objective for the stock from $78.00 to $89.00 in a research report on Wednesday, October 30th. Wells Fargo & Company upped their target price on DT Midstream from $87.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Morgan Stanley boosted their price target on shares of DT Midstream from $82.00 to $92.00 and gave the company an "underweight" rating in a research note on Friday, October 25th. Finally, Citigroup raised their target price on DT Midstream from $62.00 to $76.00 and gave the company a "neutral" rating in a report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, DT Midstream currently has a consensus rating of "Hold" and a consensus price target of $80.44.

Institutional Investors Weigh In On DT Midstream

Several hedge funds have recently bought and sold shares of DTM. International Assets Investment Management LLC purchased a new stake in shares of DT Midstream in the 3rd quarter valued at approximately $39,166,000. Dimensional Fund Advisors LP grew 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 in the last quarter. AQR Capital Management LLC increased its stake in DT Midstream by 309.7% during the 2nd quarter. AQR Capital Management LLC now owns 257,101 shares of the company's stock worth $18,262,000 after buying an additional 194,354 shares during the period. Duff & Phelps Investment Management Co. boosted its position in DT Midstream by 2,658.2% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 182,121 shares of the company's stock valued at $12,936,000 after buying an additional 175,518 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of DT Midstream in the second quarter worth $6,309,000. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Stock Performance

The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of 22.44 and a beta of 0.71. The firm has a 50 day moving average price of $81.64 and a 200-day moving average price of $73.73. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

DT Midstream (NYSE:DTM - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.05). The firm 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 9.31% and a net margin of 41.19%. During the same quarter in the previous year, the firm posted $0.94 EPS. As a group, sell-side analysts expect that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $0.735 per share. The ex-dividend date is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.19%. DT Midstream's payout ratio is 71.53%.

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.