MML Investors Services LLC Acquires New Position in DT Midstream, Inc. (NYSE:DTM)

MML Investors Services LLC acquired a new stake in DT Midstream, Inc. (NYSE:DTM) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,090 shares of the company’s stock, valued at approximately $558,000.

A number of other institutional investors have also recently bought and sold shares of the business. UMB Bank n.a. lifted its stake in shares of DT Midstream by 324.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock valued at $25,000 after purchasing an additional 240 shares during the period. V Square Quantitative Management LLC acquired a new position in DT Midstream in the third quarter valued at about $29,000. Family Firm Inc. bought a new position in DT Midstream during the second quarter worth about $26,000. First Command Advisory Services Inc. acquired a new position in shares of DT Midstream during the 2nd quarter worth about $31,000. Finally, Brooklyn Investment Group bought a new stake in shares of DT Midstream in the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $100.91 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $9.80 billion, a price-to-earnings ratio of 24.55 and a beta of 0.77. The stock’s 50-day moving average is $96.95 and its 200-day moving average is $82.28. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $109.85.

DT Midstream (NYSE:DTM) last released its 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 during 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 in the previous year, the firm posted $0.94 EPS. Equities analysts predict that DT Midstream, Inc. will post 3.84 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is currently 71.53%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Wells Fargo & Company boosted their price target on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Stifel Nicolaus raised DT Midstream from a “hold” rating to a “buy” rating and raised their price objective for the stock from $89.00 to $106.00 in a research note on Thursday. The Goldman Sachs Group lifted their target price on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $88.89.

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.