Sequoia Financial Advisors LLC Acquires 1,106 Shares of DT Midstream, Inc. (NYSE:DTM)

Sequoia Financial Advisors LLC boosted its holdings in DT Midstream, Inc. (NYSE:DTM) by 22.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,059 shares of the company’s stock after purchasing an additional 1,106 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in DT Midstream were worth $332,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Miller Howard Investments Inc. NY boosted its stake in DT Midstream by 1.5% in the 4th quarter. Miller Howard Investments Inc. NY now owns 173,194 shares of the company’s stock worth $9,491,000 after purchasing an additional 2,483 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of DT Midstream during the 4th quarter worth approximately $815,000. Nisa Investment Advisors LLC raised its holdings in shares of DT Midstream by 6.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 16,670 shares of the company’s stock worth $914,000 after acquiring an additional 1,005 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of DT Midstream during the 4th quarter worth approximately $445,000. Finally, Blue Trust Inc. raised its holdings in shares of DT Midstream by 28.3% during the 4th quarter. Blue Trust Inc. now owns 992 shares of the company’s stock worth $53,000 after acquiring an additional 219 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Performance

NYSE:DTM opened at $62.75 on Friday. The stock’s fifty day moving average is $58.71 and its 200 day moving average is $56.10. DT Midstream, Inc. has a fifty-two week low of $45.10 and a fifty-two week high of $64.19. The firm has a market capitalization of $6.09 billion, a PE ratio of 15.89 and a beta of 0.73. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63.

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

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were paid a $0.735 dividend. This is a positive change from DT Midstream’s previous quarterly dividend of $0.69. The ex-dividend date was Friday, March 15th. This represents a $2.94 dividend on an annualized basis and a yield of 4.69%. DT Midstream’s dividend payout ratio (DPR) is presently 74.43%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wolfe Research raised DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Mizuho reaffirmed a “neutral” rating and set a $57.00 price objective (down from $58.00) on shares of DT Midstream in a report on Friday, January 5th. Finally, Barclays upped their price objective on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $58.50.

DT Midstream 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.