DT Midstream (NYSE:DTM) Reaches New 52-Week High at $78.93

DT Midstream, Inc. (NYSE:DTM) shares reached a new 52-week high on Monday . The stock traded as high as $78.93 and last traded at $78.93, with a volume of 391619 shares changing hands. The stock had previously closed at $77.82.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DTM shares. Citigroup increased their price target on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Wells Fargo & Company increased their price target on shares of DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $75.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Stifel Nicolaus increased their price target on shares of DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Barclays upped their price objective on shares of DT Midstream from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $70.75.

DT Midstream Stock Performance

The stock has a market capitalization of $7.70 billion, a PE ratio of 19.07 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. The business’s fifty day moving average price is $75.00 and its 200-day moving average price is $68.47.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The firm had revenue of $244.00 million for the quarter, compared to the consensus estimate of $236.83 million. During the same period in the prior year, the firm posted $0.93 earnings per share. As a group, equities research analysts expect that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 3.71%. The ex-dividend date is Monday, September 16th. DT Midstream’s payout ratio is 71.71%.

Institutional Investors Weigh In On DT Midstream

Institutional investors and hedge funds have recently modified their holdings of the company. Private Advisor Group LLC bought a new stake in DT Midstream during the fourth quarter valued at approximately $206,000. Beacon Pointe Advisors LLC bought a new stake in shares of DT Midstream during the 4th quarter worth $209,000. Norges Bank purchased a new position in DT Midstream in the fourth quarter worth $61,638,000. Corient Private Wealth LLC grew its position in DT Midstream by 14.8% in the fourth quarter. Corient Private Wealth LLC now owns 20,160 shares of the company’s stock worth $1,105,000 after acquiring an additional 2,592 shares in the last quarter. Finally, Commerce Bank grew its position in DT Midstream by 1.2% in the fourth quarter. Commerce Bank now owns 18,815 shares of the company’s stock worth $1,031,000 after acquiring an additional 220 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

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.