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

DT Midstream, Inc. (NYSE:DTM) hit a new 52-week high on Thursday after Morgan Stanley raised their price target on the stock from $126.00 to $137.00. Morgan Stanley currently has an underweight rating on the stock. DT Midstream traded as high as $116.47 and last traded at $116.19, with a volume of 11433 shares traded. The stock had previously closed at $115.31.

DTM has been the subject of a number of other research reports. Barclays raised their target price on DT Midstream from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Mizuho raised their price objective on shares of DT Midstream from $105.00 to $108.00 and gave the stock a “neutral” rating in a research report on Friday, August 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, October 8th. Stifel Nicolaus upped their target price on shares of DT Midstream from $119.00 to $121.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Jefferies Financial Group initiated coverage on DT Midstream in a research report on Monday, November 3rd. They set a “buy” rating and a $125.00 target price on the stock. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $117.46.

Hedge Funds Weigh In On DT Midstream

A number of hedge funds and other institutional investors have recently modified their holdings of DTM. Envestnet Asset Management Inc. raised its stake in shares of DT Midstream by 3.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 222,541 shares of the company’s stock worth $21,471,000 after purchasing an additional 6,715 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of DT Midstream by 2.8% in the 1st quarter. Cerity Partners LLC now owns 17,033 shares of the company’s stock valued at $1,644,000 after buying an additional 471 shares during the period. Xponance Inc. raised its position in DT Midstream by 5.3% in the 1st quarter. Xponance Inc. now owns 12,528 shares of the company’s stock valued at $1,209,000 after buying an additional 636 shares during the last quarter. Ballentine Partners LLC lifted its stake in DT Midstream by 4.8% in the first quarter. Ballentine Partners LLC now owns 2,498 shares of the company’s stock valued at $241,000 after acquiring an additional 114 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in DT Midstream by 2.6% during the first quarter. Arizona State Retirement System now owns 28,908 shares of the company’s stock worth $2,789,000 after acquiring an additional 732 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Performance

The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69. The stock has a market cap of $11.78 billion, a P/E ratio of 29.06, a price-to-earnings-growth ratio of 2.24 and a beta of 0.77. The stock has a 50 day simple moving average of $109.84 and a 200 day simple moving average of $105.79.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.10. The firm had revenue of $309.16 million during the quarter, compared to the consensus estimate of $309.21 million. DT Midstream had a net margin of 34.30% and a return on equity of 8.83%. During the same quarter last year, the firm earned $0.90 earnings per share. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. On average, equities analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 15th. DT Midstream’s dividend payout ratio is presently 82.83%.

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.