DT Midstream (NYSE:DTM) Sets New 1-Year High at $59.97

DT Midstream, Inc. (NYSE:DTM) hit a new 52-week high on Thursday . The stock traded as high as $59.97 and last traded at $59.77, with a volume of 6606 shares traded. The stock had previously closed at $59.61.

Analyst Upgrades and Downgrades

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

DT Midstream Stock Up 1.5 %

The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $5.87 billion, a P/E ratio of 15.13 and a beta of 0.72. The stock has a 50 day moving average price of $55.83 and a 200 day moving average price of $55.06.

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

DT Midstream Increases Dividend

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

Insider Transactions at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average price of $56.87 per share, with a total value of $56,870.00. Following the purchase, the director now owns 37,289 shares of the company’s stock, valued at approximately $2,120,625.43. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its stake in DT Midstream by 1.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 17,386 shares of the company’s stock valued at $862,000 after acquiring an additional 208 shares in the last quarter. Azimuth Capital Investment Management LLC raised 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 acquiring an additional 209 shares in the last quarter. Harbour Investments Inc. lifted its stake in DT Midstream by 19.2% in the third quarter. Harbour Investments Inc. now owns 1,323 shares of the company’s stock valued at $70,000 after acquiring an additional 213 shares during the last quarter. Blue Trust Inc. grew its position in DT Midstream by 28.3% in the fourth quarter. Blue Trust Inc. now owns 992 shares of the company’s stock worth $53,000 after acquiring an additional 219 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of DT Midstream by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 42,616 shares of the company’s stock worth $2,255,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other 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.