DT Midstream (NYSE:DTM) Hits New 52-Week High – Time to Buy?

Shares of DT Midstream, Inc. (NYSE:DTM) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $118.22 and last traded at $118.2170, with a volume of 141063 shares. The stock had previously closed at $115.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $114.00 to $118.00 and gave the stock a “neutral” rating in a report on Monday, September 29th. Stifel Nicolaus raised their target price on DT Midstream from $119.00 to $121.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Jefferies Financial Group started coverage on DT Midstream in a research note on Monday, November 3rd. They issued a “buy” rating and a $125.00 target price on the stock. Morgan Stanley increased their price target on DT Midstream from $126.00 to $137.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 12th. Finally, Wells Fargo & Company lifted their price objective on DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, DT Midstream presently has an average rating of “Hold” and an average price target of $117.46.

DT Midstream Price Performance

The firm has a market cap of $11.90 billion, a P/E ratio of 29.55, a PEG ratio of 2.27 and a beta of 0.77. The business’s fifty day simple moving average is $111.13 and its 200-day simple moving average is $106.52. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69.

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, beating the consensus estimate of $1.03 by $0.10. DT Midstream had a return on equity of 8.83% and a net margin of 34.30%.The company had revenue of $314.00 million during the quarter, compared to analysts’ expectations of $309.21 million. During the same period in the previous year, the business earned $0.90 earnings per share. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. As a group, analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

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

Hedge Funds Weigh In On DT Midstream

Large investors have recently modified their holdings of the company. 59 North Capital Management LP purchased a new position in DT Midstream during the second quarter valued at approximately $226,757,000. Norges Bank bought a new position in DT Midstream in the 2nd quarter valued at $143,743,000. Merewether Investment Management LP grew its position in shares of DT Midstream by 192.4% during the 3rd quarter. Merewether Investment Management LP now owns 1,000,600 shares of the company’s stock valued at $113,128,000 after purchasing an additional 658,400 shares in the last quarter. Vanguard Group Inc. grew its position in shares of DT Midstream by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company’s stock valued at $1,078,161,000 after purchasing an additional 621,183 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in shares of DT Midstream in the third quarter worth $43,347,000. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Company Profile

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.