AdvisorNet Financial Inc Increases Holdings in DT Midstream, Inc. (NYSE:DTM)

AdvisorNet Financial Inc boosted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 106.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 310 shares of the company’s stock after purchasing an additional 160 shares during the period. AdvisorNet Financial Inc’s holdings in DT Midstream were worth $31,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. increased its holdings in DT Midstream by 324.3% during the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock valued at $25,000 after purchasing an additional 240 shares during the period. V Square Quantitative Management LLC bought a new stake in DT Midstream during the 3rd quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB bought a new stake in DT Midstream during the 3rd quarter valued at approximately $29,000. Brooklyn Investment Group bought a new stake in DT Midstream during the 3rd quarter valued at approximately $40,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of DT Midstream in the 3rd quarter worth approximately $56,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley upped their price objective on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Stifel Nicolaus upgraded shares of DT Midstream from a “hold” rating to a “buy” rating and boosted their target price for the company from $89.00 to $106.00 in a research note on Thursday, December 19th. The Goldman Sachs Group boosted their target price on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Wells Fargo & Company boosted their target price on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and boosted their target price for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $95.88.

DT Midstream Trading Up 0.2 %

NYSE:DTM opened at $112.55 on Friday. 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 firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of 27.38 and a beta of 0.79. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $112.86. The business has a fifty day moving average price of $102.80 and a 200-day moving average price of $87.13.

DT Midstream (NYSE:DTM) last issued 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). The firm had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same period in the prior year, the company posted $0.94 EPS. Sell-side analysts forecast that DT Midstream, Inc. will post 3.84 EPS for the current year.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were issued a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Monday, December 16th. DT Midstream’s dividend payout ratio is currently 71.53%.

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.