DT Midstream, Inc. (NYSE:DTM) Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC increased its holdings in DT Midstream, Inc. (NYSE:DTM) by 11.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,699 shares of the company’s stock after acquiring an additional 385 shares during the quarter. Bleakley Financial Group LLC’s holdings in DT Midstream were worth $291,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Blue Trust Inc. increased 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 valued at $73,000 after acquiring an additional 142 shares during the period. Raymond James & Associates grew its position in DT Midstream by 1.1% in the 2nd quarter. Raymond James & Associates now owns 18,148 shares of the company’s stock valued at $1,289,000 after buying an additional 201 shares during the last quarter. First Horizon Advisors Inc. grew its position in DT Midstream by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 787 shares of the company’s stock valued at $56,000 after buying an additional 224 shares during the last quarter. Signaturefd LLC grew its position in DT Midstream by 11.7% in the 2nd quarter. Signaturefd LLC now owns 2,212 shares of the company’s stock valued at $157,000 after buying an additional 232 shares during the last quarter. Finally, American National Bank grew its position in DT Midstream by 100.0% in the 2nd quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after buying an additional 234 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Price Performance

DT Midstream stock opened at $87.20 on Thursday. DT Midstream, Inc. has a 52 week low of $51.17 and a 52 week high of $87.45. 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’s 50-day simple moving average is $79.24 and its 200 day simple moving average is $72.07. The firm has a market capitalization of $8.47 billion, a PE ratio of 21.27 and a beta of 0.74.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The business had revenue of $244.00 million for the quarter, compared to analyst estimates of $236.83 million. During the same period in the previous year, the firm earned $0.93 EPS. On average, equities research analysts predict that DT Midstream, Inc. will post 3.99 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 16th were given a $0.735 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.94 annualized dividend and a dividend yield of 3.37%. DT Midstream’s dividend payout ratio is presently 71.71%.

Analysts Set New Price Targets

DTM has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Stifel Nicolaus lifted their price objective on shares of DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Citigroup boosted their target price on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Barclays boosted their target price on shares of DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company boosted 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. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $75.29.

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.