DT Midstream (NYSE:DTM) Reaches New 12-Month High – Should You Buy?

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

Analyst Upgrades and Downgrades

DTM has been the topic of several recent research reports. Citigroup increased their target price on DT Midstream from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Wells Fargo & Company raised their price objective on DT Midstream from $121.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. Morgan Stanley lifted their target price on DT Midstream from $126.00 to $137.00 and gave the company an “underweight” rating in a research note on Wednesday, November 12th. JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $118.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, December 2nd. Finally, Jefferies Financial Group set a $141.00 price objective on shares of DT Midstream and gave the stock a “buy” rating in a research report on Friday. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $125.91.

DT Midstream Stock Down 1.0%

The company has a market capitalization of $12.69 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 2.24 and a beta of 0.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 0.92. The business’s 50 day moving average is $120.04 and its 200 day moving average is $111.93.

DT Midstream (NYSE:DTM) last posted 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. The business had revenue of $314.00 million during the quarter, compared to analysts’ expectations of $309.21 million. DT Midstream had a net margin of 34.30% and a return on equity of 8.83%. During the same quarter last year, the company posted $0.90 earnings per share. Sell-side analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Horizon Investments LLC acquired a new stake in shares of DT Midstream during the fourth quarter worth about $3,066,000. Oppenheimer & Co. Inc. boosted its holdings in shares of DT Midstream by 35.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 3,161 shares of the company’s stock valued at $378,000 after acquiring an additional 822 shares during the last quarter. Sigma Planning Corp lifted its position in DT Midstream by 8.2% during the fourth quarter. Sigma Planning Corp now owns 16,813 shares of the company’s stock valued at $2,012,000 after purchasing an additional 1,280 shares during the period. Jennison Associates LLC boosted its holdings in DT Midstream by 8.9% in the fourth quarter. Jennison Associates LLC now owns 247,640 shares of the company’s stock valued at $29,638,000 after purchasing an additional 20,308 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in DT Midstream during the 4th quarter worth about $60,000. 81.53% of the stock is owned by institutional investors and hedge funds.

About DT Midstream

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.