DT Midstream (NYSE:DTM) Sets New 12-Month High Following Analyst Upgrade

Shares of DT Midstream, Inc. (NYSE:DTM) reached a new 52-week high during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $126.00 to $142.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. DT Midstream traded as high as $142.99 and last traded at $142.33, with a volume of 117364 shares traded. The stock had previously closed at $141.77.

DTM has been the subject of a number of other reports. Jefferies Financial Group set a $148.00 price objective on shares of DT Midstream and gave the stock a “buy” rating in a research report on Friday, February 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, January 21st. Bank of America lifted 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. Stifel Nicolaus set a $137.00 price objective on shares of DT Midstream and gave the company a “hold” rating in a research note on Monday, February 23rd. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $150.00 price objective on shares of DT Midstream in a report on Sunday, February 22nd. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $139.64.

Insider Activity

In other news, CFO Jeffrey A. Jewell acquired 185 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average cost of $136.33 per share, with a total value of $25,221.05. Following the completion of the acquisition, the chief financial officer directly owned 89,583 shares in the company, valued at $12,212,850.39. This represents a 0.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DTM. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of DT Midstream during the fourth quarter valued at approximately $30,000. Rehmann Capital Advisory Group boosted its position in shares of DT Midstream by 36.6% during the fourth quarter. Rehmann Capital Advisory Group now owns 2,876 shares of the company’s stock worth $344,000 after buying an additional 770 shares during the period. Alpine Global Management LLC bought a new position in DT Midstream in the 4th quarter worth approximately $239,000. Invesco Ltd. increased its position in DT Midstream by 4.7% in the 4th quarter. Invesco Ltd. now owns 1,045,754 shares of the company’s stock valued at $125,156,000 after acquiring an additional 47,030 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its position in DT Midstream by 16.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,802 shares of the company’s stock worth $1,891,000 after acquiring an additional 2,249 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Down 0.1%

The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The stock’s fifty day simple moving average is $127.37 and its two-hundred day simple moving average is $117.30. The company has a market capitalization of $14.41 billion, a price-to-earnings ratio of 32.87, a P/E/G ratio of 2.90 and a beta of 0.75.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Thursday, February 19th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.The firm had revenue of $317.00 million during the quarter, compared to analyst estimates of $320.07 million. During the same period in the prior year, the business posted $0.94 EPS. On average, sell-side analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be issued a dividend of $0.88 per share. This is a positive change from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, March 16th. DT Midstream’s dividend payout ratio is presently 76.10%.

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.