Hennion & Walsh Asset Management Inc. Sells 1,488 Shares of DT Midstream, Inc. (NYSE:DTM)

Hennion & Walsh Asset Management Inc. decreased its position in DT Midstream, Inc. (NYSE:DTM) by 6.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,444 shares of the company’s stock after selling 1,488 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in DT Midstream were worth $1,844,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Prevail Innovative Wealth Advisors LLC boosted its holdings in shares of DT Midstream by 37.9% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company’s stock worth $2,316,000 after buying an additional 10,418 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in DT Midstream by 137.6% during the first quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock valued at $1,840,000 after purchasing an additional 17,437 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in DT Midstream during the first quarter valued at about $1,085,000. Cetera Investment Advisers increased its position in DT Midstream by 1,223.2% in the first quarter. Cetera Investment Advisers now owns 54,107 shares of the company’s stock worth $3,306,000 after buying an additional 50,018 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of DT Midstream by 15.3% in the second quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock worth $8,657,000 after buying an additional 16,171 shares during the period. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Down 0.6 %

DTM opened at $87.39 on Friday. DT Midstream, Inc. has a 52 week low of $51.17 and a 52 week high of $88.21. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The firm has a 50-day simple moving average of $80.02 and a two-hundred day simple moving average of $72.46. The company has a market capitalization of $8.49 billion, a PE ratio of 21.31 and a beta of 0.74.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.06. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The business had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. During the same quarter last year, the business posted $0.93 EPS. Analysts forecast that DT Midstream, Inc. will post 3.99 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 16th were given a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 3.36%. The ex-dividend date was Monday, September 16th. DT Midstream’s dividend payout ratio is presently 71.71%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DTM shares. Wells Fargo & Company boosted their price objective on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley increased 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. 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 research note on Friday, October 4th. Stifel Nicolaus increased their price target on DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Citigroup boosted their price objective on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, DT Midstream currently has a consensus rating of “Hold” and an average target price of $77.38.

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.