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

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

Analyst Upgrades and Downgrades

Several research firms recently commented on DTM. Wells Fargo & Company upgraded shares of DT Midstream from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $62.00 to $77.00 in a report on Tuesday, June 4th. Mizuho upped their price target on shares of 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 raised their price objective on DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Barclays upped their target price on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, US Capital Advisors lowered DT Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $63.71.

DT Midstream Stock Up 0.6 %

The firm has a fifty day simple moving average of $66.43 and a 200-day simple moving average of $59.96. The company has a market capitalization of $6.92 billion, a PE ratio of 17.28 and a beta of 0.73. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.71.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. The business had revenue of $240.00 million during the quarter, compared to analyst estimates of $242.62 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Equities research analysts anticipate that DT Midstream, Inc. will post 3.94 EPS for the current fiscal year.

DT Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors 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 yield of 4.13%. DT Midstream’s dividend payout ratio (DPR) is 71.71%.

Insider Buying and Selling at DT Midstream

In other news, CFO Jeffrey A. Jewell purchased 400 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $62.80 per share, with a total value of $25,120.00. Following the transaction, 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 can be accessed through this link. 0.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DT Midstream

Institutional investors and hedge funds have recently bought and sold shares of the business. UBS Group AG boosted its holdings in shares of DT Midstream by 4.2% during the third quarter. UBS Group AG now owns 87,259 shares of the company’s stock valued at $4,618,000 after acquiring an additional 3,543 shares during the period. Envestnet Asset Management Inc. boosted its stake in DT Midstream by 186.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 157,152 shares of the company’s stock valued at $8,316,000 after purchasing an additional 102,255 shares during the period. Mariner LLC grew its position in DT Midstream by 10.6% in the 3rd quarter. Mariner LLC now owns 20,790 shares of the company’s stock worth $1,100,000 after purchasing an additional 1,985 shares during the last quarter. Natixis Advisors L.P. raised its holdings in shares of DT Midstream by 5.9% during the third quarter. Natixis Advisors L.P. now owns 13,295 shares of the company’s stock valued at $704,000 after buying an additional 743 shares during the last quarter. Finally, Meeder Advisory Services Inc. bought a new stake in shares of DT Midstream during the third quarter valued at approximately $252,000. Institutional investors and hedge funds 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.