DT Midstream (NYSE:DTM) Hits New 12-Month High - Still a Buy?

Key Points

• DT Midstream's stock reached a new 52-week high of $115.80, closing at $114.41 with significant trading volume of 623,060 shares.
• Analysts have issued mixed ratings on the stock, with seven analysts rating it a Buy and a consensus target price of $112.00.
• DT Midstream declared a quarterly dividend of $0.82 per share, contributing to an annualized yield of 2.9% with a payout ratio of 87.94%.

DT Midstream, Inc. (NYSE:DTM - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $115.80 and last traded at $114.41, with a volume of 623060 shares trading hands. The stock had previously closed at $114.49.

Analyst Ratings Changes

Several analysts have weighed in on the company. Stifel Nicolaus boosted their price target on DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, August 1st. UBS Group boosted their price target on DT Midstream from $115.00 to $128.00 and gave the company a "buy" rating in a research note on Friday. Morgan Stanley boosted their price target on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. Wells Fargo & Company boosted their price target on DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Mizuho boosted their price target on DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, DT Midstream has a consensus rating of "Hold" and a consensus target price of $112.00.

DT Midstream Stock Down 0.1%

The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. The stock has a market cap of $11.62 billion, a PE ratio of 30.67, a P/E/G ratio of 2.50 and a beta of 0.78. The business has a 50 day moving average price of $105.98 and a 200 day moving average price of $102.89.

DT Midstream (NYSE:DTM - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.06. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.The firm had revenue of $299.00 million for the quarter, compared to the consensus estimate of $295.70 million. During the same quarter in the prior year, the business earned $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Equities research analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a dividend of $0.82 per share. The ex-dividend date is Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.9%. DT Midstream's dividend payout ratio is currently 87.94%.

Insider Transactions at DT Midstream

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $104.47, for a total transaction of $496,754.85. Following the transaction, the vice president owned 5,171 shares in the company, valued at approximately $540,214.37. This represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company's stock.

Hedge Funds Weigh In On DT Midstream

Hedge funds have recently bought and sold shares of the business. CWM LLC boosted its position in DT Midstream by 18.9% during the first quarter. CWM LLC now owns 4,201 shares of the company's stock worth $405,000 after purchasing an additional 669 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new position in DT Midstream during the first quarter worth approximately $274,000. Bessemer Group Inc. boosted its position in DT Midstream by 44.0% during the first quarter. Bessemer Group Inc. now owns 442 shares of the company's stock worth $43,000 after purchasing an additional 135 shares in the last quarter. True Link Financial Advisors LLC purchased a new position in DT Midstream during the first quarter worth approximately $238,000. Finally, Catalyst Capital Advisors LLC boosted its position in DT Midstream by 10.1% during the first quarter. Catalyst Capital Advisors LLC now owns 144,025 shares of the company's stock worth $13,896,000 after purchasing an additional 13,243 shares in 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.

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