DT Midstream (NYSE:DTM) Sets New 12-Month High at $76.78

DT Midstream, Inc. (NYSE:DTM) reached a new 52-week high on Monday . The company traded as high as $76.78 and last traded at $76.75, with a volume of 107551 shares trading hands. The stock had previously closed at $75.41.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DTM shares. JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $75.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Stifel Nicolaus raised their price objective on shares of DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Barclays upped their target price on shares of DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Wells Fargo & Company lifted their target price on shares of DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, US Capital Advisors downgraded DT Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $70.00.

DT Midstream Stock Performance

The company has a quick ratio of 0.71, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $7.36 billion, a P/E ratio of 18.48 and a beta of 0.74. The business has a fifty day moving average price of $72.00 and a 200-day moving average price of $65.05.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The firm had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. During the same period in the previous year, the company earned $0.93 earnings per share. On average, sell-side analysts expect that DT Midstream, Inc. will post 3.9 EPS for the current year.

DT Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.88%. DT Midstream’s dividend payout ratio is currently 71.71%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC purchased a new stake in DT Midstream in the fourth quarter worth about $25,000. Wetzel Investment Advisors Inc. purchased a new stake in DT Midstream in the 4th quarter worth approximately $25,000. Family Firm Inc. bought a new stake in DT Midstream during the 2nd quarter worth approximately $26,000. Mather Group LLC. bought a new stake in DT Midstream during the 1st quarter worth approximately $29,000. Finally, First Command Advisory Services Inc. purchased a new position in DT Midstream during the second quarter valued at approximately $31,000. 81.53% of the stock is currently owned by institutional investors.

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.