DT Midstream (NYSE:DTM) Sets New 52-Week High – What’s Next?

by · The Markets Daily

DT Midstream, Inc. (NYSE:DTM – Get Free Report)’s share price hit a new 52-week high on Monday . The company traded as high as $99.07 and last traded at $98.93, with a volume of 15470 shares traded. The stock had previously closed at $97.89.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on DTM shares. The Goldman Sachs Group increased their price target on shares of DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. Stifel Nicolaus downgraded DT Midstream from a “buy” rating to a “hold” rating and raised their target price for the company from $78.00 to $89.00 in a report on Wednesday, October 30th. Morgan Stanley boosted their price target on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Finally, Barclays boosted their target price on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, DT Midstream presently has an average rating of “Hold” and an average price target of $80.44.

Read Our Latest Research Report on DTM

DT Midstream Stock Performance

The company has a fifty day moving average price of $83.11 and a two-hundred day moving average price of $74.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $9.71 billion, a P/E ratio of 23.82 and a beta of 0.71.

DT Midstream (NYSE:DTM – Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The business had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same period in the previous year, the firm earned $0.94 earnings per share. Equities analysts forecast that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s dividend payout ratio is currently 71.53%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in shares of DT Midstream in the third quarter worth approximately $39,166,000. Dimensional Fund Advisors LP raised its holdings in DT Midstream by 12.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock worth $312,070,000 after purchasing an additional 490,613 shares during the last quarter. AQR Capital Management LLC raised its holdings in DT Midstream by 309.7% during the 2nd quarter. AQR Capital Management LLC now owns 257,101 shares of the company’s stock worth $18,262,000 after purchasing an additional 194,354 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its stake in shares of DT Midstream by 2,658.2% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 182,121 shares of the company’s stock valued at $12,936,000 after purchasing an additional 175,518 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of DT Midstream in the 2nd quarter valued at $6,309,000. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Company Profile

(Get Free Report)

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.

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