DT Midstream (NYSE:DTM) Sets New 12-Month High – What’s Next?

DT Midstream, Inc. (NYSE:DTM) hit a new 52-week high during trading on Thursday . The stock traded as high as $134.97 and last traded at $133.4050, with a volume of 301429 shares traded. The stock had previously closed at $133.48.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Barclays increased their price target 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. Morgan Stanley lifted their price target on shares of DT Midstream from $137.00 to $139.00 and gave the company an “underweight” rating in a research report on Tuesday, February 10th. Stifel Nicolaus upped their price target on DT Midstream from $119.00 to $121.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Jefferies Financial Group set a $141.00 price objective on DT Midstream and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of DT Midstream in a research report on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, DT Midstream has a consensus rating of “Moderate Buy” and an average price target of $128.00.

DT Midstream Stock Performance

The stock has a market cap of $13.43 billion, a PE ratio of 33.27, a P/E/G ratio of 2.36 and a beta of 0.77. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a 50-day simple moving average of $122.77 and a 200-day simple moving average of $114.46.

DT Midstream (NYSE:DTM) last released its quarterly earnings data 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). DT Midstream had a net margin of 34.30% and a return on equity of 8.83%. The firm had revenue of $322.00 million during the quarter, compared to analyst estimates of $320.07 million. During the same period in the prior year, the firm earned $0.94 earnings per share. Equities analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DT Midstream

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV boosted its position in DT Midstream by 16.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,802 shares of the company’s stock worth $1,891,000 after purchasing an additional 2,249 shares during the period. Beacon Pointe Advisors LLC acquired a new position in shares of DT Midstream during the fourth quarter worth about $318,000. First Citizens Bank & Trust Co. boosted its position in shares of DT Midstream by 2.2% in the fourth quarter. First Citizens Bank & Trust Co. now owns 14,454 shares of the company’s stock worth $1,730,000 after buying an additional 310 shares during the period. NewEdge Advisors LLC boosted its position in shares of DT Midstream by 5.7% in the fourth quarter. NewEdge Advisors LLC now owns 13,891 shares of the company’s stock worth $1,662,000 after buying an additional 748 shares during the period. Finally, VestGen Investment Management grew its stake in shares of DT Midstream by 1.2% in the fourth quarter. VestGen Investment Management now owns 7,698 shares of the company’s stock valued at $921,000 after buying an additional 94 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

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.