DT Midstream (NYSE:DTM) Reaches New 12-Month High at $59.97

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

Analysts Set New Price Targets

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

DT Midstream Trading Up 1.5 %

The firm’s 50-day simple moving average is $55.83 and its 200 day simple moving average is $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. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 15.13 and a beta of 0.72.

DT Midstream (NYSE:DTM) last issued its earnings results on Friday, February 16th. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.92 by $0.32. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. The firm had revenue of $244.00 million during the quarter, compared to the consensus estimate of $235.19 million. During the same quarter in the previous year, the firm earned $0.93 earnings per share. Equities analysts expect that DT Midstream, Inc. will post 3.85 earnings per share for the current year.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, March 18th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.86%. This is a boost from DT Midstream’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, March 15th. DT Midstream’s dividend payout ratio is presently 74.43%.

Insider Activity at DT Midstream

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average price of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the acquisition, the director now owns 37,289 shares of the company’s stock, valued at approximately $2,120,625.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is owned by insiders.

Institutional Trading of DT Midstream

Large investors have recently modified their holdings of the business. HighPoint Advisor Group LLC bought a new stake in DT Midstream during the fourth quarter worth about $417,000. ICA Group Wealth Management LLC bought a new position in DT Midstream during the fourth quarter valued at approximately $32,000. Vima LLC purchased a new position in shares of DT Midstream during the fourth quarter worth approximately $63,000. Scarborough Advisors LLC bought a new stake in shares of DT Midstream in the 4th quarter worth approximately $170,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of DT Midstream by 7.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 43,867 shares of the company’s stock valued at $2,404,000 after purchasing an additional 3,086 shares in the last quarter. 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.