AdvisorNet Financial Inc Buys 160 Shares of DT Midstream, Inc. (NYSE:DTM)

AdvisorNet Financial Inc raised its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 106.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 310 shares of the company’s stock after purchasing an additional 160 shares during the period. AdvisorNet Financial Inc’s holdings in DT Midstream were worth $31,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DTM. Federated Hermes Inc. lifted its holdings in shares of DT Midstream by 19.3% in the 2nd quarter. Federated Hermes Inc. now owns 9,819 shares of the company’s stock valued at $697,000 after acquiring an additional 1,590 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of DT Midstream by 15.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock valued at $8,657,000 after acquiring an additional 16,171 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of DT Midstream by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 60,100 shares of the company’s stock valued at $4,269,000 after acquiring an additional 1,000 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of DT Midstream by 4.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 22,869 shares of the company’s stock valued at $1,620,000 after acquiring an additional 1,057 shares during the last quarter. Finally, AE Wealth Management LLC lifted its holdings in shares of DT Midstream by 31.9% in the 2nd quarter. AE Wealth Management LLC now owns 6,875 shares of the company’s stock valued at $488,000 after acquiring an additional 1,663 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on DTM. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and increased their price target for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Barclays initiated coverage on shares of DT Midstream in a research note on Friday, January 10th. They issued an “equal weight” rating and a $112.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. The Goldman Sachs Group raised their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Finally, Morgan Stanley raised 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $95.88.

DT Midstream Stock Performance

Shares of NYSE:DTM opened at $112.55 on Friday. The firm has a market cap of $10.93 billion, a PE ratio of 27.38 and a beta of 0.79. The firm’s 50 day simple moving average is $102.80 and its 200-day simple moving average is $87.13. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $112.86. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). The business had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same period in the previous year, the business earned $0.94 earnings per share. As a group, equities analysts predict that DT Midstream, Inc. will post 3.84 EPS for the current year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Monday, December 16th. DT Midstream’s payout ratio is 71.53%.

About DT Midstream

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.