Private Advisor Group LLC Grows Stock Position in DT Midstream, Inc. (NYSE:DTM)

Private Advisor Group LLC increased its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 27.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,695 shares of the company’s stock after buying an additional 1,000 shares during the quarter. Private Advisor Group LLC’s holdings in DT Midstream were worth $369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in DTM. Prevail Innovative Wealth Advisors LLC raised its holdings in shares of DT Midstream by 37.9% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company’s stock worth $2,316,000 after purchasing an additional 10,418 shares during the period. Illinois Municipal Retirement Fund raised its holdings in shares of DT Midstream by 137.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock worth $1,840,000 after purchasing an additional 17,437 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of DT Midstream in the 1st quarter worth about $1,085,000. Cetera Investment Advisers raised its holdings in shares of DT Midstream by 1,223.2% in the 1st quarter. Cetera Investment Advisers now owns 54,107 shares of the company’s stock worth $3,306,000 after purchasing an additional 50,018 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of DT Midstream by 15.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock worth $8,657,000 after purchasing an additional 16,171 shares during the period. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Up 2.6 %

Shares of DT Midstream stock opened at $92.22 on Wednesday. The business’s fifty day moving average price is $81.64 and its two-hundred day moving average price is $73.73. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $8.96 billion, a P/E ratio of 22.44 and a beta of 0.71. DT Midstream, Inc. has a 1-year low of $51.17 and a 1-year high of $92.47.

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

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio is presently 71.53%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays raised their target price on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday. Citigroup raised their price objective 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 raised their price objective on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Finally, Morgan Stanley lifted their target price on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, DT Midstream has an average rating of “Hold” and a consensus price target of $80.44.

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.