DT Midstream (NYSE:DTM) Reaches New 52-Week High - Here's Why

Key Points

• DT Midstream's stock price hit a new 52-week high of $114.58 during trading, closing at $114.03, with a total trading volume of 307,445 shares.
• Analysts have raised their price targets for DT Midstream, with Wells Fargo setting a target of $117.00 and JPMorgan Chase at $118.00, reflecting positive sentiment despite mixed ratings.
• The company announced a quarterly dividend of $0.82 per share, with an ex-dividend date of September 15th, representing a yield of 2.9%.

DT Midstream, Inc. (NYSE:DTM - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $114.58 and last traded at $114.03, with a volume of 307445 shares traded. The stock had previously closed at $113.06.

Analysts Set New Price Targets

A number of equities analysts recently commented on DTM shares. Wells Fargo & Company lifted their price target on DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Mizuho lifted their target price on DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. JPMorgan Chase & Co. lifted their target price on DT Midstream from $114.00 to $118.00 and gave the company a "neutral" rating in a research note on Monday. Stifel Nicolaus lifted their target price on DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Morgan Stanley lifted their target price on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $110.92.

DT Midstream Trading Up 1.0%

The business's 50 day moving average price is $104.84 and its two-hundred day moving average price is $102.39. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $11.60 billion, a price-to-earnings ratio of 30.60, a price-to-earnings-growth ratio of 2.47 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.04 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $295.70 million. During the same quarter in the previous year, the company earned $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Equities analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 annualized dividend and a yield of 2.9%. DT Midstream's payout ratio is presently 87.94%.

Insider Buying and Selling

In related news, VP Melissa Cox sold 4,755 shares of the business's 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 sale, the vice president owned 5,171 shares of the company's stock, valued at $540,214.37. The trade was a 47.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DT Midstream

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp raised its holdings in DT Midstream by 6.1% during the second quarter. Texas Permanent School Fund Corp now owns 139,694 shares of the company's stock worth $15,354,000 after purchasing an additional 8,048 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of DT Midstream by 18.3% in the second quarter. Osaic Holdings Inc. now owns 37,896 shares of the company's stock valued at $4,096,000 after buying an additional 5,853 shares in the last quarter. Centaurus Financial Inc. bought a new position in shares of DT Midstream in the second quarter valued at $364,000. Orion Porfolio Solutions LLC increased its holdings in shares of DT Midstream by 44.3% in the second quarter. Orion Porfolio Solutions LLC now owns 24,258 shares of the company's stock valued at $2,666,000 after buying an additional 7,442 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of DT Midstream by 53.5% in the second quarter. Thrivent Financial for Lutherans now owns 55,979 shares of the company's stock valued at $6,152,000 after buying an additional 19,512 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.

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