DT Midstream (NYSE:DTM) Hits New 12-Month High – Here’s Why

DT Midstream, Inc. (NYSE:DTM) hit a new 52-week high during trading on Monday . The company traded as high as $130.28 and last traded at $130.0750, with a volume of 57263 shares trading hands. The stock had previously closed at $128.58.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of DT Midstream from $114.00 to $119.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. Weiss Ratings reissued a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, January 21st. Wells Fargo & Company upped their price target on shares of DT Midstream from $121.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. Stifel Nicolaus lifted their price objective on DT Midstream from $119.00 to $121.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Jefferies Financial Group set a $141.00 target price on DT Midstream and gave the company a “buy” rating in a research note on Friday, January 30th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, DT Midstream has a consensus rating of “Moderate Buy” and an average price target of $126.09.

DT Midstream Price Performance

The stock has a market cap of $13.40 billion, a PE ratio of 33.29, a PEG ratio of 2.33 and a beta of 0.77. The business’s 50-day simple moving average is $121.51 and its 200-day simple moving average is $113.39. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.69.

Institutional Investors Weigh In On DT Midstream

Several institutional investors and hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in shares of DT Midstream during the fourth quarter valued at approximately $28,000. Richardson Financial Services Inc. boosted its holdings in DT Midstream by 62.7% in the fourth quarter. Richardson Financial Services Inc. now owns 244 shares of the company’s stock valued at $29,000 after acquiring an additional 94 shares in the last quarter. Mather Group LLC. purchased a new position in DT Midstream during the 3rd quarter valued at $30,000. Centerpoint Advisors LLC raised its holdings in DT Midstream by 198.9% in the 3rd quarter. Centerpoint Advisors LLC now owns 269 shares of the company’s stock worth $30,000 after purchasing an additional 179 shares in the last quarter. Finally, First Horizon Corp bought a new position in DT Midstream in the 3rd quarter worth $32,000. Hedge funds and other institutional investors 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.