DT Midstream (NYSE:DTM) Reaches New 1-Year High at $70.04

DT Midstream, Inc. (NYSE:DTM)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $70.04 and last traded at $69.71, with a volume of 113402 shares trading hands. The stock had previously closed at $68.71.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company raised shares of DT Midstream from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $62.00 to $77.00 in a research note on Tuesday, June 4th. Barclays increased their price objective on shares of DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Stifel Nicolaus upped their target price on shares of DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Mizuho increased their price target on shares of DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Finally, US Capital Advisors cut shares of DT Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.71.

DT Midstream Price Performance

The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 16.96 and a beta of 0.73. The company’s 50-day moving average is $65.63 and its 200-day moving average is $59.49.

DT Midstream (NYSE:DTM) last issued its earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. The firm had revenue of $240.00 million for the quarter, compared to analyst estimates of $242.62 million. During the same quarter last year, the business posted $0.84 earnings per share. Equities research analysts predict that DT Midstream, Inc. will post 3.94 earnings per share for the current year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be given a $0.735 dividend. The ex-dividend date is Monday, June 17th. This represents a $2.94 dividend on an annualized basis and a yield of 4.23%. DT Midstream’s dividend payout ratio is currently 71.71%.

Insider Transactions at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell purchased 400 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were bought at an average price of $62.80 per share, for a total transaction of $25,120.00. Following the completion of the acquisition, the chief financial officer now owns 44,285 shares in the company, valued at $2,781,098. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On DT Midstream

Hedge funds have recently modified their holdings of the business. Wetzel Investment Advisors Inc. acquired a new position in shares of DT Midstream during the fourth quarter worth $25,000. HHM Wealth Advisors LLC bought a new position in DT Midstream during the fourth quarter worth $25,000. Mather Group LLC. bought a new position in DT Midstream during the first quarter worth $29,000. ICA Group Wealth Management LLC bought a new position in DT Midstream during the fourth quarter worth $32,000. Finally, Burkett Financial Services LLC bought a new position in DT Midstream during the fourth quarter worth $42,000. 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.