Frank Rimerman Advisors LLC Invests $764,000 in DT Midstream, Inc. (NYSE:DTM)

Frank Rimerman Advisors LLC bought a new stake in DT Midstream, Inc. (NYSE:DTM) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,759 shares of the company’s stock, valued at approximately $764,000.

Several other institutional investors have also recently bought and sold shares of DTM. Family Firm Inc. acquired a new stake in shares of DT Midstream in the second quarter valued at approximately $26,000. Mather Group LLC. acquired a new position in shares of DT Midstream during the 1st quarter worth about $29,000. First Command Advisory Services Inc. bought a new stake in DT Midstream in the second quarter valued at approximately $31,000. ICA Group Wealth Management LLC bought a new stake in DT Midstream in the 4th quarter valued at $32,000. Finally, American National Bank raised its position in shares of DT Midstream by 100.0% in the second quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after purchasing an additional 234 shares during the period. Institutional investors own 81.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on DTM. JPMorgan Chase & Co. lifted their price target on DT Midstream from $75.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Citigroup upped their price target on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Stifel Nicolaus lifted their price objective on shares of DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company increased their target price on shares of DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Barclays lifted their price target on shares of DT Midstream from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, DT Midstream currently has an average rating of “Hold” and a consensus price target of $70.75.

DT Midstream Stock Performance

Shares of NYSE:DTM opened at $79.27 on Tuesday. DT Midstream, Inc. has a 1 year low of $50.88 and a 1 year high of $79.30. The stock has a market capitalization of $7.70 billion, a price-to-earnings ratio of 19.33 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. The company’s 50 day simple moving average is $75.17 and its 200 day simple moving average is $68.62.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The company had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same quarter in the previous year, the firm earned $0.93 EPS. As a group, research analysts predict that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be paid a $0.735 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.71%. DT Midstream’s payout ratio is currently 71.71%.

DT Midstream 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.