DT Midstream (NYSE:DTM) Sets New 52-Week High at $64.21

DT Midstream, Inc. (NYSE:DTM)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $64.21 and last traded at $64.17, with a volume of 748911 shares traded. The stock had previously closed at $63.08.

Wall Street Analyst Weigh In

DTM has been the subject of several research reports. Barclays lifted their price objective on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Mizuho restated a “neutral” rating and set a $57.00 price objective (down from $58.00) on shares of DT Midstream in a research report on Friday, January 5th. Finally, Wolfe Research upgraded DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $58.50.

DT Midstream Trading Down 0.8 %

The company has a market cap of $6.22 billion, a PE ratio of 16.22 and a beta of 0.73. The business has a 50 day simple moving average of $60.05 and a two-hundred day simple moving average of $56.56. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.72.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Friday, February 16th. The company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.32. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. The company had revenue of $244.00 million for the quarter, compared to analyst estimates of $235.19 million. During the same quarter in the prior year, the company posted $0.93 EPS. On average, analysts forecast that DT Midstream, Inc. will post 3.95 EPS for the current fiscal year.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were paid a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend was Friday, March 15th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.69. DT Midstream’s dividend payout ratio is currently 74.43%.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $56.87 per share, with a total value of $56,870.00. Following the transaction, the director now owns 37,289 shares of the company’s stock, valued at approximately $2,120,625.43. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new stake in DT Midstream in the 4th quarter valued at $25,000. HHM Wealth Advisors LLC acquired a new stake in DT Midstream in the 4th quarter valued at $25,000. Mather Group LLC. acquired a new stake in DT Midstream in the 1st quarter valued at $29,000. ICA Group Wealth Management LLC acquired a new stake in DT Midstream in the 4th quarter valued at $32,000. Finally, Burkett Financial Services LLC acquired a new stake in DT Midstream in the 4th quarter valued at $42,000. 81.53% of the stock is owned by hedge funds and other 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.