DT Midstream (NYSE:DTM) Reaches New 12-Month High – Should You Buy?

DT Midstream, Inc. (NYSE:DTM) shares hit a new 52-week high on Tuesday . The company traded as high as $113.55 and last traded at $112.96, with a volume of 606 shares traded. The stock had previously closed at $112.48.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company increased their price target 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. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and raised their target price for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Stifel Nicolaus upgraded DT Midstream from a “hold” rating to a “buy” rating and lifted their price target for the stock from $89.00 to $106.00 in a report on Thursday, December 19th. Morgan Stanley upped their price objective on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Finally, Barclays assumed coverage on DT Midstream in a research note on Friday, January 10th. They set an “equal weight” rating and a $112.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, DT Midstream currently has a consensus rating of “Hold” and a consensus price target of $95.88.

DT Midstream Stock Up 0.5 %

The company has a market cap of $10.98 billion, a price-to-earnings ratio of 27.50 and a beta of 0.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50-day moving average price of $103.05 and a 200 day moving average price of $87.55.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The firm had revenue of $248.00 million during the quarter, compared to analyst estimates 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 prior year, the company earned $0.94 earnings per share. Sell-side analysts predict that DT Midstream, Inc. will post 3.84 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were paid a $0.735 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.94 annualized dividend and a dividend yield of 2.60%. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

Hedge Funds Weigh In On DT Midstream

A number of hedge funds have recently added to or reduced their stakes in DTM. AdvisorNet Financial Inc boosted its holdings in shares of DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after purchasing an additional 160 shares in the last quarter. UMB Bank n.a. boosted its stake in DT Midstream by 324.3% in the third quarter. UMB Bank n.a. now owns 314 shares of the company’s stock valued at $25,000 after buying an additional 240 shares in the last quarter. Sound Income Strategies LLC grew its position in DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after acquiring an additional 163 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in DT Midstream during the third quarter worth about $29,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of DT Midstream in the third quarter worth about $29,000. 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.