DT Midstream (NYSE:DTM) Sets New 52-Week High – Here’s What Happened

Shares of DT Midstream, Inc. (NYSE:DTM) hit a new 52-week high on Monday . The stock traded as high as $126.37 and last traded at $124.1660, with a volume of 1085083 shares changing hands. The stock had previously closed at $125.47.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus raised their price objective 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. Bank of America increased their target price on shares of DT Midstream from $118.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Morgan Stanley lifted their price target on DT Midstream from $126.00 to $137.00 and gave the company an “underweight” rating in a research note on Wednesday, November 12th. Jefferies Financial Group set a $141.00 price target on DT Midstream and gave the stock a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company increased their target price on DT Midstream from $121.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. Seven 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $125.91.

DT Midstream Price Performance

The firm has a market cap of $12.69 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 2.24 and a beta of 0.77. The stock’s fifty day moving average price is $120.04 and its 200-day moving average price is $111.93. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.92.

DT Midstream (NYSE:DTM) last posted 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 firm had revenue of $314.00 million for 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 period last year, the firm posted $0.90 earnings per share. As a group, equities analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada lifted its position in 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 buying an additional 16,043 shares in the last quarter. NewEdge Advisors LLC boosted 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 acquiring an additional 218 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of DT Midstream by 13.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,241 shares of the company’s stock valued at $26,652,000 after acquiring an additional 31,894 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of DT Midstream by 39.3% in the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock valued at $42,000 after purchasing an additional 123 shares during the period. Finally, Truist Financial Corp increased its position in DT Midstream by 18.3% during the second quarter. Truist Financial Corp now owns 15,862 shares of the company’s stock worth $1,743,000 after purchasing an additional 2,451 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

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.