Raymond James Financial Services Advisors Inc. Has $1.10 Million Stake in DT Midstream, Inc. (NYSE:DTM)

Raymond James Financial Services Advisors Inc. raised its position in DT Midstream, Inc. (NYSE:DTM) by 7.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,154 shares of the company’s stock after purchasing an additional 1,475 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in DT Midstream were worth $1,104,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DTM. JPMorgan Chase & Co. raised its stake in shares of DT Midstream by 7.1% in the 1st quarter. JPMorgan Chase & Co. now owns 225,447 shares of the company’s stock valued at $12,233,000 after purchasing an additional 14,913 shares during the period. American Century Companies Inc. increased its position in shares of DT Midstream by 5.0% in the first quarter. American Century Companies Inc. now owns 5,889 shares of the company’s stock valued at $320,000 after acquiring an additional 278 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of DT Midstream by 4.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,058 shares of the company’s stock valued at $763,000 after acquiring an additional 551 shares during the last quarter. HighTower Advisors LLC increased its position in shares of DT Midstream by 23.0% in the first quarter. HighTower Advisors LLC now owns 9,218 shares of the company’s stock valued at $500,000 after acquiring an additional 1,724 shares during the last quarter. Finally, Citigroup Inc. increased its position in shares of DT Midstream by 31.3% in the first quarter. Citigroup Inc. now owns 21,331 shares of the company’s stock valued at $1,157,000 after acquiring an additional 5,087 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction dated Monday, February 26th. The stock was bought at an average price of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the acquisition, the director now directly owns 37,289 shares in the company, valued at approximately $2,120,625.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DTM shares. Wolfe Research raised DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Barclays lifted their target price on DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $57.00 target price (down previously from $58.00) on shares of DT Midstream in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $58.57.

DT Midstream Price Performance

Shares of NYSE DTM opened at $62.64 on Monday. The business’s 50 day moving average price is $57.89 and its two-hundred day moving average price is $55.88. The company has a market cap of $6.08 billion, a PE ratio of 15.86 and a beta of 0.73. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.72. DT Midstream, Inc. has a twelve month low of $45.10 and a twelve month high of $64.19.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Friday, February 16th. The company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.32. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. The firm had revenue of $244.00 million for the quarter, compared to the consensus estimate of $235.19 million. During the same quarter in the previous year, the business earned $0.93 earnings per share. On average, analysts predict that DT Midstream, Inc. will post 3.85 EPS for the current year.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, March 18th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend is Friday, March 15th. This is a boost from DT Midstream’s previous quarterly dividend of $0.69. DT Midstream’s payout ratio is currently 74.43%.

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.