DT Midstream (NYSE:DTM) Hits New 12-Month High – Here’s What Happened

by · The Markets Daily

DT Midstream, Inc. (NYSE:DTM – Get Free Report) shares hit a new 52-week high on Friday . The stock traded as high as $122.45 and last traded at $122.0250, with a volume of 34695 shares. The stock had previously closed at $121.53.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DTM shares. JPMorgan Chase & Co. increased their target price on shares of DT Midstream from $118.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, October 8th. Barclays lifted their price objective on DT Midstream from $103.00 to $114.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. UBS Group boosted their target price on DT Midstream from $115.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Finally, Mizuho raised their price target on DT Midstream from $105.00 to $108.00 and gave the company a “neutral” rating in a research report on Friday, August 29th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $118.08.

View Our Latest Analysis on DT Midstream

DT Midstream Trading Up 0.8%

The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 0.92. The business has a fifty day simple moving average of $113.17 and a 200 day simple moving average of $107.62. The stock has a market cap of $12.46 billion, a price-to-earnings ratio of 30.94, a PEG ratio of 2.32 and a beta of 0.76.

DT Midstream (NYSE:DTM – Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.10. The company had revenue of $314.00 million during the quarter, compared to analysts’ expectations of $309.21 million. DT Midstream had a return on equity of 8.83% and a net margin of 34.30%.During the same period in the previous year, the firm posted $0.90 earnings per share. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. As a group, equities analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, December 15th. DT Midstream’s dividend payout ratio (DPR) is currently 82.83%.

Hedge Funds Weigh In On DT Midstream

Several institutional investors and hedge funds have recently modified their holdings of DTM. Allworth Financial LP grew its stake in DT Midstream by 13.7% in the 3rd quarter. Allworth Financial LP now owns 1,603 shares of the company’s stock worth $181,000 after acquiring an additional 193 shares during the period. Swiss Life Asset Management Ltd boosted its holdings in shares of DT Midstream by 76.0% during the third quarter. Swiss Life Asset Management Ltd now owns 4,628 shares of the company’s stock worth $523,000 after purchasing an additional 1,999 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of DT Midstream by 7.8% in the third quarter. JPMorgan Chase & Co. now owns 871,636 shares of the company’s stock valued at $98,538,000 after purchasing an additional 63,438 shares during the period. CIBC Bancorp USA Inc. acquired a new position in DT Midstream in the third quarter valued at $43,347,000. Finally, Coldstream Capital Management Inc. lifted its position in DT Midstream by 11.8% during the third quarter. Coldstream Capital Management Inc. now owns 3,005 shares of the company’s stock worth $340,000 after buying an additional 317 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

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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