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

DT Midstream, Inc. (NYSE:DTM)’s share price reached a new 52-week high on Thursday . The stock traded as high as $87.50 and last traded at $87.46, with a volume of 17614 shares trading hands. The stock had previously closed at $87.20.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday. Wells Fargo & Company raised 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. Barclays upped their price objective on shares of DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Citigroup raised their target price on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Finally, 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 report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $77.38.

DT Midstream Stock Performance

The firm’s 50 day moving average is $80.02 and its 200-day moving average is $72.46. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of 21.31 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.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 earnings per share 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 business had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. During the same quarter in the prior year, the firm posted $0.93 earnings per share. Analysts forecast that DT Midstream, Inc. will post 3.99 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th were issued a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Monday, September 16th. DT Midstream’s payout ratio is currently 71.71%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Blue Trust Inc. raised its position in DT Midstream by 16.0% during the second quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock worth $73,000 after acquiring an additional 142 shares during the period. TFG Advisers LLC raised its position in shares of DT Midstream by 3.1% during the 3rd quarter. TFG Advisers LLC now owns 5,774 shares of the company’s stock worth $454,000 after purchasing an additional 172 shares during the last quarter. Raymond James & Associates lifted its stake in DT Midstream by 1.1% in the 2nd quarter. Raymond James & Associates now owns 18,148 shares of the company’s stock valued at $1,289,000 after buying an additional 201 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in DT Midstream by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 787 shares of the company’s stock worth $56,000 after buying an additional 224 shares during the last quarter. Finally, First Citizens Bank & Trust Co. increased its stake in DT Midstream by 6.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 3,532 shares of the company’s stock worth $278,000 after buying an additional 228 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

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.