DT Midstream (NYSE:DTM) Sees Unusually-High Trading Volume – Time to Buy?

DT Midstream, Inc. (NYSE:DTM) saw an uptick in trading volume on Wednesday . 691,413 shares were traded during 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.

Wall Street Analyst Weigh In

DTM has been the topic of several analyst reports. Citigroup raised their target price on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Barclays upped their target price on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. upped their target price on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Stifel Nicolaus lowered DT Midstream from a “buy” rating to a “hold” rating and raised their price target for the company from $78.00 to $89.00 in a report on Wednesday, October 30th. Finally, Morgan Stanley boosted their target price on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, DT Midstream presently has an average rating of “Hold” and an average price target of $80.44.

DT Midstream Stock Performance

The firm’s 50 day simple moving average is $86.50 and its 200-day simple moving average is $76.49. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 25.06 and a beta of 0.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

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

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 2.88%. DT Midstream’s payout ratio is currently 71.53%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. UMB Bank n.a. increased its stake in shares of DT Midstream by 324.3% in the third quarter. UMB Bank n.a. now owns 314 shares of the company’s stock worth $25,000 after purchasing an additional 240 shares during the period. Family Firm Inc. bought a new stake in shares of DT Midstream in the second quarter valued at approximately $26,000. V Square Quantitative Management LLC bought a new stake in shares of DT Midstream in the third quarter valued at approximately $29,000. First Command Advisory Services Inc. acquired a new stake in shares of DT Midstream in the second quarter worth $31,000. Finally, American National Bank increased its position in DT Midstream by 100.0% during the second quarter. American National Bank now owns 468 shares of the company’s stock worth $33,000 after acquiring an additional 234 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

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.