DT Midstream (NYSE:DTM) Sets New 52-Week High After Analyst Upgrade

DT Midstream, Inc. (NYSE:DTM) reached a new 52-week high on Friday after JPMorgan Chase & Co. raised their price target on the stock from $126.00 to $142.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. DT Midstream traded as high as $142.99 and last traded at $142.33, with a volume of 117364 shares. The stock had previously closed at $141.77.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus set a $137.00 price objective on DT Midstream and gave the company a “hold” rating in a report on Monday, February 23rd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $150.00 price target on shares of DT Midstream in a research report on Sunday, February 22nd. UBS Group lifted their price objective on DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, January 21st. Finally, Jefferies Financial Group set a $148.00 target price on shares of DT Midstream and gave the stock a “buy” rating in a research note on Friday, February 20th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $139.64.

Insider Activity at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell bought 185 shares of DT Midstream stock in a transaction that occurred on Wednesday, February 25th. The shares were bought at an average price of $136.33 per share, with a total value of $25,221.05. Following the acquisition, the chief financial officer owned 89,583 shares in the company, valued at approximately $12,212,850.39. This trade represents a 0.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Trading of DT Midstream

A number of institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its position in shares of DT Midstream by 21.6% during the 1st quarter. Royal Bank of Canada now owns 90,286 shares of the company’s stock valued at $8,711,000 after acquiring an additional 16,043 shares during the period. NewEdge Advisors LLC lifted its position in DT Midstream by 1.6% during the first quarter. NewEdge Advisors LLC now owns 13,631 shares of the company’s stock valued at $1,315,000 after purchasing an additional 218 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in DT Midstream by 13.1% in 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 buying an additional 31,894 shares in the last quarter. Geneos Wealth Management Inc. increased its position 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 buying an additional 123 shares in the last quarter. Finally, Atria Investments Inc raised its stake in shares of DT Midstream by 5.6% in the second quarter. Atria Investments Inc now owns 14,012 shares of the company’s stock worth $1,540,000 after buying an additional 737 shares during the period. Institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Up 0.5%

The stock has a 50-day moving average price of $126.95 and a two-hundred day moving average price of $117.02. The stock has a market capitalization of $14.50 billion, a PE ratio of 33.07, a PEG ratio of 2.54 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Thursday, February 19th. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.03). The firm had revenue of $317.00 million for the quarter, compared to analysts’ expectations of $320.07 million. DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. During the same period in the prior year, the firm earned $0.94 EPS. As a group, equities analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. This is a boost from DT Midstream’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 16th. DT Midstream’s payout ratio is presently 81.67%.

DT Midstream Company Profile

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.