DT Midstream (NYSE:DTM) Reaches New 52-Week High at $78.93

Shares of DT Midstream, Inc. (NYSE:DTM) reached a new 52-week high during trading on Monday . The company traded as high as $78.93 and last traded at $78.93, with a volume of 391619 shares trading hands. The stock had previously closed at $77.82.

Wall Street Analyst Weigh In

A number of research firms recently commented on DTM. Stifel Nicolaus boosted their price target on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Citigroup boosted their price target on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Barclays lifted their target price on DT Midstream from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Wells Fargo & Company lifted their target price on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their target price on DT Midstream from $75.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $70.75.

DT Midstream Stock Performance

The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. The company has a fifty day moving average price of $75.00 and a two-hundred day moving average price of $68.47. The company has a market capitalization of $7.70 billion, a P/E ratio of 19.07 and a beta of 0.74.

DT Midstream (NYSE:DTM) last released its earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The company had revenue of $244.00 million for the quarter, compared to the consensus estimate of $236.83 million. During the same quarter in the previous year, the company earned $0.93 EPS. Equities analysts forecast that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The firm 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 yield of 3.71%. DT Midstream’s dividend payout ratio (DPR) is presently 71.71%.

Institutional Trading of DT Midstream

A number of hedge funds and other institutional investors have recently bought and sold shares of DTM. Family Firm Inc. bought a new stake in shares of DT Midstream in the 2nd quarter worth $26,000. Mather Group LLC. bought a new stake in shares of DT Midstream in the 1st quarter worth $29,000. First Command Advisory Services Inc. bought a new stake in shares of DT Midstream in the 2nd quarter worth $31,000. ICA Group Wealth Management LLC bought a new stake in shares of DT Midstream in the 4th quarter worth $32,000. Finally, American National Bank grew its stake in shares of DT Midstream by 100.0% in the 2nd quarter. American National Bank now owns 468 shares of the company’s stock worth $33,000 after acquiring an additional 234 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

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.