Raymond James & Associates Raises Position in DT Midstream, Inc. (NYSE:DTM)

Raymond James & Associates raised its holdings in shares of DT Midstream, Inc. (NYSE:DTMGet 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. increased its stake 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 buying an additional 900 shares during the period. 78.28% of the stock is owned by institutional investors.

DT Midstream Price Performance

Shares of DTM stock opened at $53.22 on Friday. The business’s fifty day moving average is $56.62 and its 200 day moving average is $55.40. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.74. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 13.93 and a beta of 0.86. DT Midstream, Inc. has a twelve month low of $45.58 and a twelve month high of $61.12.

DT Midstream (NYSE:DTMGet Rating) last released its earnings results on Friday, October 28th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. DT Midstream had a net margin of 41.33% and a return on equity of 8.24%. The firm had revenue of $235.00 million for the quarter, compared to the consensus estimate of $230.73 million. Research analysts expect that DT Midstream, Inc. will post 3.88 EPS for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, January 15th. Shareholders of record on Monday, December 19th were paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Friday, December 16th. DT Midstream’s dividend payout ratio is 67.02%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Mizuho lowered shares of DT Midstream from a “buy” rating to a “neutral” rating and cut their price target for the stock from $67.00 to $62.00 in a report on Monday, October 31st. Wells Fargo & Company lowered DT Midstream from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $68.00 to $62.00 in a research report on Friday, December 16th. Wolfe Research lowered DT Midstream from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, November 16th. Barclays decreased their target price on DT Midstream from $67.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Morgan Stanley lifted their price target on shares of DT Midstream from $60.00 to $64.00 and gave the company an “underweight” rating in a report on Wednesday, October 19th. 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 Company Profile

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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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Institutional Ownership by Quarter for DT Midstream (NYSE:DTM)

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