Beaird Harris Wealth Management LLC cut its stake in shares of DT Midstream, Inc. (NYSE:DTM – Free Report) by 53.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 431 shares of the company’s stock after selling 499 shares during the period. Beaird Harris Wealth Management LLC’s holdings in DT Midstream were worth $34,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank n.a. increased its stake in DT Midstream by 324.3% during the third quarter. UMB Bank n.a. now owns 314 shares of the company’s stock worth $25,000 after acquiring an additional 240 shares during the last quarter. Family Firm Inc. acquired a new stake in DT Midstream during the 2nd quarter worth approximately $26,000. V Square Quantitative Management LLC acquired a new position in DT Midstream during the third quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB purchased a new stake in DT Midstream during the third quarter worth approximately $29,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of DT Midstream in the second quarter worth $31,000. 81.53% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently weighed in on DTM. JPMorgan Chase & Co. lifted their target price on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and upped their target price for the stock from $90.00 to $115.00 in a research report on Thursday, November 21st. Stifel Nicolaus downgraded DT Midstream from a “buy” rating to a “hold” rating and raised their target price for the company from $78.00 to $89.00 in a report on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. Finally, Barclays increased their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $84.78.
DT Midstream Stock Performance
DT Midstream stock opened at $100.64 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average of $95.53 and a 200-day moving average of $81.07. The stock has a market cap of $9.78 billion, a P/E ratio of 24.49 and a beta of 0.77. DT Midstream, Inc. has a 52 week low of $51.17 and a 52 week high of $109.85.
DT Midstream (NYSE:DTM – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter last year, the company earned $0.94 earnings per share. On average, analysts expect that DT Midstream, Inc. will post 3.84 EPS for the current fiscal year.
DT Midstream Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s payout ratio is currently 71.53%.
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.
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