DT Midstream (NYSE:DTM) Sets New 12-Month High Following Analyst Upgrade

DT Midstream, Inc. (NYSE:DTM) shares reached a new 52-week high during trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $126.00 to $142.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. DT Midstream traded as high as $142.99 and last traded at $142.33, with a volume of 117364 shares changing hands. The stock had previously closed at $141.77.

A number of other equities research analysts also recently commented on DTM. Citigroup boosted their target price on DT Midstream from $130.00 to $156.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $150.00 price objective on shares of DT Midstream in a research note on Sunday, February 22nd. Morgan Stanley increased their target price on DT Midstream from $137.00 to $139.00 and gave the company an “underweight” rating in a research report on Tuesday, February 10th. Barclays raised their target price on shares of DT Midstream from $119.00 to $141.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Mizuho increased their price objective on shares of DT Midstream from $108.00 to $129.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, DT Midstream currently has a consensus rating of “Hold” and an average target price of $139.64.

Insider Buying and Selling at DT Midstream

In other news, CFO Jeffrey A. Jewell purchased 185 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average price of $136.33 per share, for a total transaction of $25,221.05. Following the completion of the purchase, the chief financial officer owned 89,583 shares in the company, valued at approximately $12,212,850.39. This represents a 0.21% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of DT Midstream

Institutional investors have recently modified their holdings of the company. Miller Howard Investments Inc. NY raised its position in shares of DT Midstream by 24.9% in the third quarter. Miller Howard Investments Inc. NY now owns 210,411 shares of the company’s stock worth $23,789,000 after acquiring an additional 41,929 shares during the period. Principal Financial Group Inc. boosted its stake in DT Midstream by 76.7% during the 3rd quarter. Principal Financial Group Inc. now owns 500,329 shares of the company’s stock worth $56,568,000 after purchasing an additional 217,185 shares during the last quarter. JPMorgan Chase & Co. grew its stake in DT Midstream by 7.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 871,636 shares of the company’s stock valued at $98,538,000 after acquiring an additional 63,438 shares in the last quarter. Clean Energy Transition LLP grew its position in shares of DT Midstream by 84.7% in the second quarter. Clean Energy Transition LLP now owns 324,763 shares of the company’s stock valued at $35,695,000 after purchasing an additional 148,911 shares in the last quarter. Finally, First American Bank acquired a new stake in shares of DT Midstream in the 3rd quarter worth $1,373,000. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Trading Up 0.5%

The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 33.07, a PEG ratio of 2.54 and a beta of 0.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average is $126.95 and its 200-day moving average is $117.02.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Thursday, February 19th. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.03). DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.The business had revenue of $317.00 million during the quarter, compared to analysts’ expectations of $320.07 million. During the same quarter in the previous year, the company posted $0.94 earnings per share. Research analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be given a dividend of $0.88 per share. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, March 16th. DT Midstream’s dividend payout ratio (DPR) is 81.67%.

DT Midstream Company Profile

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.