DT Midstream (NYSE:DTM) Sets New 52-Week High at $64.21

Shares of DT Midstream, Inc. (NYSE:DTM) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $64.21 and last traded at $64.17, with a volume of 748911 shares changing hands. The stock had previously closed at $63.08.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wolfe Research upgraded shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, February 20th. Mizuho reaffirmed a “neutral” rating and issued a $57.00 price target (down previously from $58.00) on shares of DT Midstream in a report on Friday, January 5th. Finally, Barclays upped their price target on shares of DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.50.

DT Midstream Trading Down 0.8 %

The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.72. The stock’s fifty day moving average price is $60.05 and its two-hundred day moving average price is $56.56. The company has a market capitalization of $6.22 billion, a PE ratio of 16.22 and a beta of 0.73.

DT Midstream (NYSE:DTM) last posted its earnings results on Friday, February 16th. The company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.32. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. The company had revenue of $244.00 million during the quarter, compared to analyst estimates of $235.19 million. During the same period in the prior year, the business posted $0.93 earnings per share. Sell-side analysts anticipate that DT Midstream, Inc. will post 3.95 earnings per share for the current year.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 18th were paid a $0.735 dividend. This is an increase from DT Midstream’s previous quarterly dividend of $0.69. This represents a $2.94 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Friday, March 15th. DT Midstream’s dividend payout ratio is presently 74.43%.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average cost of $56.87 per share, with a total value of $56,870.00. Following the completion of the purchase, the director now directly owns 37,289 shares in the company, valued at $2,120,625.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in DT Midstream by 21.3% in the first quarter. GAMMA Investing LLC now owns 1,185 shares of the company’s stock worth $72,000 after purchasing an additional 208 shares during the last quarter. Azimuth Capital Investment Management LLC grew its holdings in DT Midstream by 3.4% during the 4th quarter. Azimuth Capital Investment Management LLC now owns 6,289 shares of the company’s stock valued at $345,000 after buying an additional 209 shares in the last quarter. Blue Trust Inc. grew its holdings in DT Midstream by 28.3% during the 4th quarter. Blue Trust Inc. now owns 992 shares of the company’s stock valued at $53,000 after buying an additional 219 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in DT Midstream by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 42,616 shares of the company’s stock valued at $2,255,000 after buying an additional 220 shares in the last quarter. Finally, Commerce Bank boosted its holdings in shares of DT Midstream by 1.2% in the 4th quarter. Commerce Bank now owns 18,815 shares of the company’s stock worth $1,031,000 after purchasing an additional 220 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.