Cetera Investment Advisers Boosts Stock Position in DT Midstream, Inc. (NYSE:DTM)

Cetera Investment Advisers lifted its position in DT Midstream, Inc. (NYSE:DTM) by 2.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,349 shares of the company’s stock after purchasing an additional 1,242 shares during the quarter. Cetera Investment Advisers owned 0.06% of DT Midstream worth $3,932,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of DT Midstream by 16.0% in the 2nd quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock worth $73,000 after purchasing an additional 142 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of DT Midstream by 1.1% in the 2nd quarter. Raymond James & Associates now owns 18,148 shares of the company’s stock worth $1,289,000 after purchasing an additional 201 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of DT Midstream by 21.3% in the 1st quarter. GAMMA Investing LLC now owns 1,185 shares of the company’s stock worth $72,000 after purchasing an additional 208 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of DT Midstream by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 787 shares of the company’s stock worth $56,000 after purchasing an additional 224 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of DT Midstream by 11.7% in the 2nd quarter. Signaturefd LLC now owns 2,212 shares of the company’s stock worth $157,000 after purchasing an additional 232 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DTM. Barclays boosted their target price on DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Citigroup boosted their target price on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Wells Fargo & Company boosted their target price on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Stifel Nicolaus boosted their target price on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $73.00.

DT Midstream Stock Up 0.7 %

DTM stock opened at $84.01 on Thursday. DT Midstream, Inc. has a twelve month low of $51.17 and a twelve month high of $84.23. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The firm has a market cap of $8.16 billion, a PE ratio of 20.49 and a beta of 0.74. The business has a 50 day moving average of $76.85 and a 200 day moving average of $70.44.

DT Midstream (NYSE:DTM) last posted its 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 business had revenue of $244.00 million during the quarter, compared to analyst estimates 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 last year, the company earned $0.93 EPS. On average, research analysts forecast that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company 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 3.50%. DT Midstream’s dividend payout ratio (DPR) is currently 71.71%.

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.