NewEdge Advisors LLC Boosts Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

NewEdge Advisors LLC raised its holdings in DT Midstream, Inc. (NYSE:DTM) by 6.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,878 shares of the company’s stock after purchasing an additional 733 shares during the period. NewEdge Advisors LLC’s holdings in DT Midstream were worth $915,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of DTM. Family Firm Inc. purchased a new position in shares of DT Midstream in the second quarter worth about $26,000. Mather Group LLC. purchased a new position in shares of DT Midstream in the first quarter worth about $29,000. First Command Advisory Services Inc. purchased a new position in shares of DT Midstream in the second quarter worth about $31,000. American National Bank increased its stake in shares of DT Midstream by 100.0% in the second quarter. American National Bank now owns 468 shares of the company’s stock worth $33,000 after purchasing an additional 234 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of DT Midstream by 76.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company’s stock worth $46,000 after purchasing an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Down 0.3 %

Shares of DTM opened at $83.76 on Tuesday. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 20.43 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $84.18. The firm has a 50 day moving average price of $76.31 and a 200-day moving average price of $70.00.

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

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a dividend of $0.735 per share. The ex-dividend date is Monday, September 16th. This represents a $2.94 dividend on an annualized basis and a yield of 3.51%. DT Midstream’s dividend payout ratio is currently 71.71%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DTM shares. JPMorgan Chase & Co. boosted their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday. Stifel Nicolaus boosted their price objective on shares of DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on shares of DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Barclays boosted their price objective on shares of DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Finally, Citigroup boosted their price objective 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. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, DT Midstream has an average rating of “Hold” and an average price target of $73.00.

About DT Midstream

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.