DT Midstream (NYSE:DTM) Sees Strong Trading Volume – Time to Buy?

DT Midstream, Inc. (NYSE:DTM) shares saw an uptick in trading volume on Wednesday . 691,413 shares changed hands during mid-day trading, an increase of 6% from the previous session’s volume of 653,452 shares.The stock last traded at $101.85 and had previously closed at $103.03.

Analysts Set New Price Targets

Several research analysts have commented on DTM shares. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and raised their price objective for the company from $90.00 to $115.00 in a research report on Thursday. The Goldman Sachs Group raised their target price on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a report on Tuesday, November 5th. Barclays upped their price target on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Stifel Nicolaus downgraded shares of DT Midstream from a “buy” rating to a “hold” rating and increased their price objective for the company from $78.00 to $89.00 in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their target price on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $84.78.

DT Midstream Stock Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $10.52 billion, a PE ratio of 26.35 and a beta of 0.71. The company has a 50 day moving average price of $87.72 and a 200 day moving average price of $76.89.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter last year, the company earned $0.94 earnings per share. Equities analysts forecast that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $0.735 per share. The ex-dividend date is Monday, December 16th. This represents a $2.94 annualized dividend and a dividend yield of 2.71%. DT Midstream’s payout ratio is 71.53%.

Institutional Trading of DT Midstream

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Coldstream Capital Management Inc. acquired a new position in shares of DT Midstream in the 3rd quarter valued at about $239,000. Geode Capital Management LLC boosted its holdings in shares of DT Midstream by 4.3% during the third quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock valued at $162,567,000 after acquiring an additional 85,462 shares during the period. Executive Wealth Management LLC grew its position in shares of DT Midstream by 14.7% during the third quarter. Executive Wealth Management LLC now owns 10,563 shares of the company’s stock worth $831,000 after acquiring an additional 1,356 shares during the last quarter. Duff & Phelps Investment Management Co. increased its holdings in shares of DT Midstream by 48.8% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 271,067 shares of the company’s stock worth $21,322,000 after acquiring an additional 88,946 shares during the period. Finally, Barclays PLC lifted its position in DT Midstream by 3.7% in the 3rd quarter. Barclays PLC now owns 283,363 shares of the company’s stock valued at $22,289,000 after purchasing an additional 10,074 shares during the last quarter. 81.53% of the stock is 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.