DT Midstream (NYSE:DTM) Hits New 1-Year High – Time to Buy?

DT Midstream, Inc. (NYSE:DTM)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $134.97 and last traded at $133.4050, with a volume of 301429 shares. The stock had previously closed at $133.48.

Analyst Upgrades and Downgrades

Several analysts have issued reports on DTM shares. JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $118.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, December 2nd. Stifel Nicolaus upped their target price on shares of DT Midstream from $119.00 to $121.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, January 21st. Morgan Stanley boosted their price objective on shares of DT Midstream from $137.00 to $139.00 and gave the stock an “underweight” rating in a report on Tuesday, February 10th. Finally, Jefferies Financial Group set a $141.00 target price on DT Midstream and gave the company a “buy” rating in a research note on Friday, January 30th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, DT Midstream presently has a consensus rating of “Moderate Buy” and an average price target of $128.00.

DT Midstream Stock Down 1.0%

The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $13.43 billion, a price-to-earnings ratio of 33.27, a P/E/G ratio of 2.36 and a beta of 0.77. The stock has a 50 day moving average of $122.77 and a 200 day moving average of $114.46.

DT Midstream (NYSE:DTM) last released its earnings results on Thursday, February 19th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). The firm had revenue of $322.00 million for the quarter, compared to the consensus estimate of $320.07 million. DT Midstream had a return on equity of 8.83% and a net margin of 34.30%.During the same period in the prior year, the business earned $0.94 EPS. As a group, analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DT Midstream

A number of hedge funds have recently added to or reduced their stakes in DTM. Royal Bank of Canada raised its holdings in shares of DT Midstream by 21.6% during the first quarter. Royal Bank of Canada now owns 90,286 shares of the company’s stock worth $8,711,000 after purchasing an additional 16,043 shares during the period. NewEdge Advisors LLC grew its position in shares of DT Midstream by 1.6% during the 1st quarter. NewEdge Advisors LLC now owns 13,631 shares of the company’s stock valued at $1,315,000 after buying an additional 218 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in DT Midstream by 13.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,241 shares of the company’s stock worth $26,652,000 after acquiring an additional 31,894 shares during the period. Geneos Wealth Management Inc. lifted its holdings in DT Midstream by 39.3% in the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock worth $42,000 after acquiring an additional 123 shares during the last quarter. Finally, CWM LLC boosted its stake in DT Midstream by 4.9% in the second quarter. CWM LLC now owns 4,405 shares of the company’s stock valued at $484,000 after acquiring an additional 204 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

About DT Midstream

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.