DT Midstream (NYSE:DTM) Sets New 12-Month High at $65.89

DT Midstream, Inc. (NYSE:DTM - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $65.89 and last traded at $65.84, with a volume of 270563 shares. The stock had previously closed at $64.74.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DTM. Stifel Nicolaus raised their price target on shares of DT Midstream from $62.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday, May 1st. Barclays raised their target price on shares of DT Midstream from $59.00 to $66.00 and gave the company an "overweight" rating in a research note on Friday, April 5th. Wolfe Research raised shares of DT Midstream from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, February 20th. US Capital Advisors downgraded DT Midstream from an "overweight" rating to a "hold" rating in a report on Monday, April 29th. Finally, Mizuho raised their price target on DT Midstream from $57.00 to $65.00 and gave the company a "neutral" rating in a report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $61.50.

DT Midstream Stock Performance

The company has a debt-to-equity ratio of 0.71, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a 50-day simple moving average of $61.56 and a 200-day simple moving average of $57.27. The stock has a market cap of $6.41 billion, a P/E ratio of 15.79 and a beta of 0.72.

DT Midstream (NYSE:DTM - Get Free Report) last released its earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. DT Midstream had a return on equity of 9.41% and a net margin of 42.46%. The firm had revenue of $240.00 million for the quarter, compared to analysts' expectations of $242.62 million. During the same quarter in the previous year, the business posted $0.84 earnings per share. Research analysts forecast that DT Midstream, Inc. will post 3.92 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Friday, June 14th. DT Midstream's dividend payout ratio (DPR) is currently 71.71%.

Insider Transactions at DT Midstream

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the business's stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average cost of $56.87 per share, with a total value of $56,870.00. Following the completion of the purchase, the director now directly owns 37,289 shares in the company, valued at $2,120,625.43. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Jeffrey A. Jewell acquired 400 shares of the business's stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $62.80 per share, with a total value of $25,120.00. Following the completion of the purchase, the chief financial officer now directly owns 44,285 shares in the company, valued at $2,781,098. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company's stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the purchase, the director now owns 37,289 shares of the company's stock, valued at approximately $2,120,625.43. The disclosure for this purchase can be found here. Company insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On DT Midstream

Several institutional investors have recently added to or reduced their stakes in the business. Carlson Capital L P acquired a new position in DT Midstream in the first quarter valued at approximately $782,000. Seven Eight Capital LP acquired a new position in DT Midstream in the first quarter valued at approximately $232,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in DT Midstream by 1.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company's stock valued at $144,398,000 after buying an additional 37,463 shares during the period. Prevail Innovative Wealth Advisors LLC lifted its stake in DT Midstream by 37.9% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company's stock valued at $2,316,000 after buying an additional 10,418 shares during the period. Finally, Blair William & Co. IL lifted its stake in DT Midstream by 4.0% in the first quarter. Blair William & Co. IL now owns 6,258 shares of the company's stock valued at $382,000 after buying an additional 243 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Company Profile

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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