HB Wealth Management LLC Buys New Shares in DT Midstream, Inc. (NYSE:DTM)

HB Wealth Management LLC purchased a new position in shares of DT Midstream, Inc. (NYSE:DTMFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,008 shares of the company’s stock, valued at approximately $299,000.

Several other large investors have also made changes to their positions in DTM. FMR LLC raised its holdings in shares of DT Midstream by 1,476.9% during the third quarter. FMR LLC now owns 805,950 shares of the company’s stock worth $63,396,000 after purchasing an additional 754,839 shares during the last quarter. Brookfield Corp ON raised its stake in shares of DT Midstream by 171.3% during the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after buying an additional 655,695 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of DT Midstream in the 3rd quarter valued at about $39,166,000. Charles Schwab Investment Management Inc. boosted its stake in shares of DT Midstream by 30.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after buying an additional 267,269 shares during the last quarter. Finally, State Street Corp grew its holdings in DT Midstream by 6.4% during the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after acquiring an additional 202,447 shares during the period. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Price Performance

NYSE:DTM opened at $111.57 on Friday. The stock has a 50 day moving average of $103.83 and a two-hundred day moving average of $88.19. DT Midstream, Inc. has a 12 month low of $51.17 and a 12 month high of $114.50. The firm has a market cap of $10.84 billion, a P/E ratio of 27.15 and a beta of 0.79. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTMGet Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.05). The firm had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter in the previous year, the firm posted $0.94 earnings per share. On average, analysts expect that DT Midstream, Inc. will post 3.84 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is 71.53%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on DTM shares. Wells Fargo & Company upped their price objective on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus upgraded shares of DT Midstream from a “hold” rating to a “buy” rating and raised their price target for the company from $89.00 to $106.00 in a research report on Thursday, December 19th. The Goldman Sachs Group upped their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research report on Thursday, December 19th. Barclays started coverage on DT Midstream in a research report on Friday, January 10th. They set an “equal weight” rating and a $112.00 target price on the stock. Finally, Morgan Stanley upped their price target on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $95.88.

View Our Latest Analysis on DT Midstream

DT Midstream Profile

(Free Report)

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.

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

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