DT Midstream (NYSE:DTM) Sets New 52-Week High at $59.97

DT Midstream, Inc. (NYSE:DTM) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $59.97 and last traded at $59.77, with a volume of 6606 shares traded. The stock had previously closed at $59.61.

Analyst Ratings Changes

DTM has been the subject of a number of recent analyst reports. Barclays raised their price objective on DT Midstream from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, January 17th. Mizuho reissued a “neutral” rating and set a $57.00 price objective (down from $58.00) on shares of DT Midstream in a report on Friday, January 5th. JPMorgan Chase & Co. lowered DT Midstream from an “overweight” rating to a “neutral” rating in a research report on Friday, December 1st. Finally, Wolfe Research raised shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $57.57.

DT Midstream Stock Performance

The company has a market cap of $5.87 billion, a P/E ratio of 15.13 and a beta of 0.72. The stock has a fifty day moving average price of $55.83 and a two-hundred day moving average price of $55.06. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.63 and a quick ratio of 0.63.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Friday, February 16th. The company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.32. The company had revenue of $244.00 million for the quarter, compared to analyst estimates of $235.19 million. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. During the same period last year, the company earned $0.93 earnings per share. On average, equities analysts forecast that DT Midstream, Inc. will post 3.85 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, March 18th will be issued a $0.735 dividend. The ex-dividend date is Friday, March 15th. This is a boost from DT Midstream’s previous quarterly dividend of $0.69. This represents a $2.94 annualized dividend and a dividend yield of 4.86%. DT Midstream’s dividend payout ratio (DPR) is 74.43%.

Insider Buying and Selling

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average cost of $56.87 per share, with a total value of $56,870.00. Following the completion of the acquisition, 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 can be accessed through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DT Midstream

Hedge funds have recently modified their holdings of the stock. Wetzel Investment Advisors Inc. acquired a new position in shares of DT Midstream in the 4th quarter valued at $25,000. HHM Wealth Advisors LLC purchased a new stake in shares of DT Midstream in the 4th quarter valued at approximately $25,000. Geneos Wealth Management Inc. acquired a new position in DT Midstream in the 1st quarter worth approximately $30,000. ICA Group Wealth Management LLC purchased a new position in DT Midstream during the 4th quarter worth approximately $32,000. Finally, Chilton Capital Management LLC acquired a new stake in shares of DT Midstream in the first quarter worth $39,000. 81.53% of the stock is currently owned by institutional investors and hedge funds.

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.