Merit Financial Group LLC Invests $458,000 in DT Midstream, Inc. (NYSE:DTM)

Merit Financial Group LLC purchased a new position in shares of DT Midstream, Inc. (NYSE:DTM) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 4,611 shares of the company’s stock, valued at approximately $458,000.

A number of other hedge funds have also bought and sold shares of the company. UMB Bank n.a. raised 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 valued at $25,000 after buying an additional 240 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of DT Midstream in the 3rd quarter worth approximately $29,000. Wilmington Savings Fund Society FSB bought a new stake in shares of DT Midstream in the 3rd quarter valued at approximately $29,000. AdvisorNet Financial Inc raised its position in shares of DT Midstream by 106.7% during the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after acquiring an additional 160 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in DT Midstream during the third quarter worth $40,000. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on DTM shares. The Goldman Sachs Group boosted their target price on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Morgan Stanley boosted their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Wells Fargo & Company raised their target price on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Stifel Nicolaus raised DT Midstream from a “hold” rating to a “buy” rating and upped their target price for the company from $89.00 to $106.00 in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised 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 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. Based on data from MarketBeat.com, DT Midstream currently has a consensus rating of “Hold” and a consensus price target of $95.88.

DT Midstream Stock Performance

Shares of NYSE DTM opened at $111.57 on Friday. DT Midstream, Inc. has a 12-month low of $51.17 and a 12-month high of $114.50. The company has a market cap of $10.84 billion, a PE ratio of 27.15 and a beta of 0.79. The stock has a 50 day simple moving average of $103.83 and a 200-day simple moving average of $88.19. 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:DTM) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The business had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. During the same quarter last year, the firm posted $0.94 EPS. On average, equities research analysts forecast that DT Midstream, Inc. will post 3.84 EPS for the current year.

DT Midstream Announces Dividend

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