DT Midstream (NYSE:DTM) Hits New 52-Week High at $71.44

Shares of DT Midstream, Inc. (NYSE:DTM) hit a new 52-week high on Friday . The stock traded as high as $71.44 and last traded at $71.39, with a volume of 11208 shares traded. The stock had previously closed at $70.85.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DTM shares. Barclays upped their target price on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Mizuho boosted their price target on DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. Stifel Nicolaus boosted their price target on DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. US Capital Advisors cut DT Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Finally, Wells Fargo & Company upgraded DT Midstream from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $62.00 to $77.00 in a report on Tuesday, June 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $63.71.

DT Midstream Price Performance

The company has a debt-to-equity ratio of 0.71, a current ratio of 0.71 and a quick ratio of 0.71. The company has a 50-day moving average price of $66.58 and a 200-day moving average price of $60.12. The firm has a market capitalization of $6.90 billion, a PE ratio of 17.32 and a beta of 0.73.

DT Midstream (NYSE:DTM) last released its earnings results on Tuesday, April 30th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. The firm had revenue of $240.00 million during the quarter, compared to analyst estimates of $242.62 million. DT Midstream had a return on equity of 9.41% and a net margin of 42.46%. During the same period in the prior year, the firm posted $0.84 earnings per share. Sell-side analysts forecast that DT Midstream, Inc. will post 3.94 EPS for the current year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a $0.735 dividend. The ex-dividend date is Monday, June 17th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.14%. DT Midstream’s dividend payout ratio (DPR) is currently 71.71%.

Insider Activity at DT Midstream

In related news, CFO Jeffrey A. Jewell purchased 400 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $62.80 per share, with a total value of $25,120.00. Following the acquisition, the chief financial officer now owns 44,285 shares in the company, valued at approximately $2,781,098. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.04% of the stock is currently owned by company insiders.

Institutional Trading of DT Midstream

Several large investors have recently added to or reduced their stakes in DTM. GAMMA Investing LLC boosted its position in DT Midstream by 21.3% during the first quarter. GAMMA Investing LLC now owns 1,185 shares of the company’s stock valued at $72,000 after purchasing an additional 208 shares during the last quarter. Azimuth Capital Investment Management LLC boosted its position in DT Midstream by 3.4% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 6,289 shares of the company’s stock valued at $345,000 after purchasing an additional 209 shares during the last quarter. Blue Trust Inc. raised its holdings in DT Midstream by 28.3% during the fourth 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 raised its holdings in DT Midstream by 0.5% during the third 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 raised its holdings in DT Midstream by 1.2% during the fourth quarter. Commerce Bank now owns 18,815 shares of the company’s stock valued at $1,031,000 after buying an additional 220 shares in the last quarter. 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.