DT Midstream (NYSE:DTM) Sets New 1-Year High After Analyst Upgrade

DT Midstream, Inc. (NYSE:DTM)’s stock price reached a new 52-week high during trading on Thursday after Morgan Stanley raised their price target on the stock from $126.00 to $137.00. Morgan Stanley currently has an underweight rating on the stock. DT Midstream traded as high as $116.47 and last traded at $116.19, with a volume of 11433 shares. The stock had previously closed at $115.31.

DTM has been the subject of several other research reports. Stifel Nicolaus boosted their price target on shares of DT Midstream from $119.00 to $121.00 and gave the stock a “buy” rating in a report on Friday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $114.00 to $118.00 and gave the company a “neutral” rating in a research note on Monday, September 29th. Weiss Ratings restated a “buy (b)” rating on shares of DT Midstream in a research report on Wednesday, October 8th. Citigroup upped their price objective on shares of DT Midstream from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Finally, Jefferies Financial Group assumed coverage on shares of DT Midstream in a research note on Monday, November 3rd. They issued a “buy” rating and a $125.00 target price for the company. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $117.46.

Institutional Trading of DT Midstream

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in DT Midstream by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 11,351,778 shares of the company’s stock valued at $1,247,674,000 after purchasing an additional 176,813 shares during the period. Dimensional Fund Advisors LP increased its holdings in DT Midstream by 3.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,668,447 shares of the company’s stock worth $301,695,000 after acquiring an additional 99,602 shares during the period. 59 North Capital Management LP purchased a new stake in shares of DT Midstream in the second quarter worth $226,757,000. Invesco Ltd. raised its holdings in shares of DT Midstream by 15.4% in the 2nd quarter. Invesco Ltd. now owns 1,664,052 shares of the company’s stock valued at $182,896,000 after acquiring an additional 222,586 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. lifted its position in DT Midstream by 21.8% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 1,582,833 shares of the company’s stock valued at $152,712,000 after purchasing an additional 282,870 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

DT Midstream Price Performance

The business has a fifty day moving average price of $109.84 and a 200-day moving average price of $105.79. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $11.78 billion, a PE ratio of 29.06, a PEG ratio of 2.24 and a beta of 0.77.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.10. DT Midstream had a net margin of 34.30% and a return on equity of 8.83%. The business had revenue of $309.16 million for the quarter, compared to analyst estimates of $309.21 million. During the same quarter last year, the firm earned $0.90 EPS. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. Research analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

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 given a $0.82 dividend. 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 82.83%.

About DT Midstream

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.