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

DT Midstream, Inc. (NYSE:DTM)’s share price reached a new 52-week high on Tuesday . The company traded as high as $123.50 and last traded at $121.6360, with a volume of 782743 shares traded. The stock had previously closed at $122.31.

Analyst Ratings Changes

A number of equities research analysts have commented on DTM shares. Citigroup increased their price target on DT Midstream from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Barclays upped their price objective on shares of DT Midstream from $114.00 to $119.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. UBS Group lifted their target price on shares of DT Midstream from $115.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. boosted their price target on DT Midstream from $118.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.45.

DT Midstream Stock Up 1.2%

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 company has a market capitalization of $12.64 billion, a price-to-earnings ratio of 31.40, a P/E/G ratio of 2.18 and a beta of 0.76. The business’s 50-day moving average is $119.68 and its 200-day moving average is $111.57.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.10. The company had revenue of $314.00 million for the quarter, compared to the consensus estimate of $309.21 million. DT Midstream had a return on equity of 8.83% and a net margin of 34.30%.During the same period last year, the firm earned $0.90 EPS. As a group, equities analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. 59 North Capital Management LP purchased a new stake in DT Midstream in the 2nd quarter worth approximately $226,757,000. Norges Bank acquired a new position in shares of DT Midstream in the 2nd quarter valued at $143,743,000. Merewether Investment Management LP boosted its holdings in DT Midstream by 192.4% during the third quarter. Merewether Investment Management LP now owns 1,000,600 shares of the company’s stock worth $113,128,000 after buying an additional 658,400 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in DT Midstream during the third quarter valued at $43,347,000. Finally, Holocene Advisors LP increased its holdings in DT Midstream by 117.7% in the third quarter. Holocene Advisors LP now owns 554,059 shares of the company’s stock valued at $62,642,000 after buying an additional 299,609 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

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.