DT Midstream (NYSE:DTM) Hits New 52-Week High – Time to Buy?

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citigroup increased their price target on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Barclays increased 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. 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 report on Wednesday, July 31st. Stifel Nicolaus increased their price objective on shares of DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $73.00.

DT Midstream Stock Performance

The company has a market cap of $8.16 billion, a PE ratio of 20.35 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. The firm’s 50 day moving average is $76.68 and its 200-day moving average is $70.34.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The firm had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. During the same quarter last year, the firm earned $0.93 earnings per share. On average, research analysts anticipate that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

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 given a dividend of $0.735 per share. The ex-dividend date is Monday, September 16th. This represents a $2.94 annualized dividend and a dividend yield of 3.50%. DT Midstream’s payout ratio is 71.71%.

Institutional Trading of DT Midstream

Several hedge funds have recently made changes to their positions in DTM. UMB Bank n.a. raised its position in shares of DT Midstream by 324.3% during the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock valued at $25,000 after buying an additional 240 shares during the period. Family Firm Inc. purchased a new stake in DT Midstream in the second quarter valued at $26,000. Mather Group LLC. purchased a new position in shares of DT Midstream during the 1st quarter worth $29,000. First Command Advisory Services Inc. acquired a new stake in shares of DT Midstream during the 2nd quarter worth about $31,000. Finally, American National Bank raised its holdings 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 buying 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.