Raymond James & Associates raised its holdings in shares of DT Midstream, Inc. (NYSE:DTM – Get Rating) by 8.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,074 shares of the company’s stock after buying an additional 5,265 shares during the period. Raymond James & Associates’ holdings in DT Midstream were worth $3,636,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. TFG Advisers LLC bought a new stake in shares of DT Midstream in the 3rd quarter valued at about $238,000. State of Alaska Department of Revenue lifted its position in DT Midstream by 143.5% in the third quarter. State of Alaska Department of Revenue now owns 33,790 shares of the company’s stock valued at $1,753,000 after purchasing an additional 19,911 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of DT Midstream during the third quarter valued at approximately $1,334,000. Hexagon Capital Partners LLC bought a new position in shares of DT Midstream in the third quarter worth approximately $36,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of DT Midstream by 6.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 14,799 shares of the company’s stock worth $768,000 after purchasing an additional 900 shares during the last quarter. 78.28% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have weighed in on DTM shares. Barclays dropped their price target on shares of DT Midstream from $67.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday. Wells Fargo & Company downgraded DT Midstream from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $68.00 to $62.00 in a report on Friday, December 16th. Wolfe Research cut DT Midstream from an “outperform” rating to a “peer perform” rating in a report on Wednesday, November 16th. Morgan Stanley boosted their target price on DT Midstream from $60.00 to $64.00 and gave the company an “underweight” rating in a research note on Wednesday, October 19th. Finally, Citigroup began coverage on DT Midstream in a research note on Thursday, December 8th. They issued a “sell” rating and a $54.00 price target for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.29.
DT Midstream Trading Up 0.6 %
DT Midstream (NYSE:DTM – Get Rating) last announced its earnings results on Friday, October 28th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The firm had revenue of $235.00 million for the quarter, compared to analysts’ expectations of $230.73 million. DT Midstream had a net margin of 41.33% and a return on equity of 8.24%. Research analysts forecast that DT Midstream, Inc. will post 3.88 earnings per share for the current fiscal year.
DT Midstream Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, January 15th. Shareholders of record on Monday, December 19th were issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Friday, December 16th. DT Midstream’s dividend payout ratio (DPR) is presently 67.02%.
About DT Midstream
DT Midstream, Inc provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. It develops, owns, and operates an integrated portfolio of interstate pipelines, intrastate pipelines, storage systems, lateral pipelines, gathering systems, related treatment plants, and compression and surface facilities.
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