DT Midstream (NYSE:DTM) Sets New 1-Year High – Should You Buy?

DT Midstream, Inc. (NYSE:DTM) reached a new 52-week high on Wednesday . The company traded as high as $110.21 and last traded at $109.65, with a volume of 21447 shares trading hands. The stock had previously closed at $108.32.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DTM. JPMorgan Chase & Co. lifted their price target on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $90.00 to $115.00 in a research report on Thursday, November 21st. The Goldman Sachs Group increased their price target on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 19th. Stifel Nicolaus upgraded shares of DT Midstream from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $89.00 to $106.00 in a report on Thursday, December 19th. Finally, Wells Fargo & Company upped their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $95.88.

DT Midstream Stock Performance

The firm has a market cap of $10.63 billion, a P/E ratio of 26.63 and a beta of 0.79. The business’s fifty day simple moving average is $101.94 and its 200-day simple moving average is $86.38. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 EPS 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 net margin of 41.19% and a return on equity of 9.31%. During the same period in the previous year, the company earned $0.94 EPS. As a group, sell-side analysts expect that DT Midstream, Inc. will post 3.84 earnings per share for the current year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.69%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is currently 71.53%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc increased its position in shares of DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after buying an additional 160 shares during the period. UMB Bank n.a. grew its holdings in shares of DT Midstream by 324.3% during the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock worth $25,000 after acquiring an additional 240 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of DT Midstream during the 3rd quarter worth approximately $29,000. Wilmington Savings Fund Society FSB bought a new position in shares of DT Midstream in the 3rd quarter worth approximately $29,000. Finally, Brooklyn Investment Group purchased a new position in shares of DT Midstream in the 3rd quarter valued at approximately $40,000. 81.53% of the stock is currently owned by institutional investors.

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.