DT Midstream (NYSE:DTM) Sets New 12-Month High at $64.21

DT Midstream, Inc. (NYSE:DTM)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $64.21 and last traded at $64.17, with a volume of 748911 shares traded. The stock had previously closed at $63.08.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DTM. Barclays upped their price objective on shares of DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Mizuho restated a “neutral” rating and set a $57.00 price objective (down previously from $58.00) on shares of DT Midstream in a research report on Friday, January 5th. Finally, Wolfe Research upgraded shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DT Midstream presently has an average rating of “Hold” and an average target price of $58.50.

DT Midstream Price Performance

The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 15.97 and a beta of 0.73. 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 company’s 50-day moving average is $59.37 and its 200-day moving average is $56.37.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Friday, February 16th. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.32. The firm had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $235.19 million. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. During the same period in the previous year, the company posted $0.93 earnings per share. On average, research analysts expect that DT Midstream, Inc. will post 3.86 earnings per share for the current year.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were paid a dividend of $0.735 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.58%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.69. DT Midstream’s dividend payout ratio (DPR) is currently 74.43%.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were bought at an average price of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the purchase, the director now directly 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 SEC, which is available at this hyperlink. Insiders own 0.21% of the company’s stock.

Institutional Trading of DT Midstream

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its holdings in DT Midstream by 2.6% in the first quarter. Louisiana State Employees Retirement System now owns 27,900 shares of the company’s stock worth $1,705,000 after purchasing an additional 700 shares during the period. Amalgamated Bank lifted its holdings in DT Midstream by 4.8% in the first quarter. Amalgamated Bank now owns 66,179 shares of the company’s stock worth $4,044,000 after purchasing an additional 3,052 shares during the period. Greystone Financial Group LLC bought a new stake in DT Midstream in the first quarter worth about $254,000. PFG Investments LLC bought a new stake in DT Midstream in the first quarter worth about $362,000. Finally, Maryland State Retirement & Pension System raised its position in DT Midstream by 1.5% in the first quarter. Maryland State Retirement & Pension System now owns 90,197 shares of the company’s stock worth $5,592,000 after acquiring an additional 1,369 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.