Wedmont Private Capital Increases Position in DT Midstream, Inc. (NYSE:DTM)

Wedmont Private Capital lifted its stake in DT Midstream, Inc. (NYSE:DTM) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,318 shares of the company’s stock after purchasing an additional 175 shares during the period. Wedmont Private Capital’s holdings in DT Midstream were worth $308,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC purchased a new position in DT Midstream in the 4th quarter valued at approximately $208,000. Wilmington Savings Fund Society FSB grew its holdings in DT Midstream by 38.3% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 509 shares of the company’s stock valued at $51,000 after purchasing an additional 141 shares during the last quarter. Savant Capital LLC increased its position in shares of DT Midstream by 29.0% in the fourth quarter. Savant Capital LLC now owns 7,034 shares of the company’s stock valued at $699,000 after buying an additional 1,582 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of DT Midstream by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock worth $2,685,000 after buying an additional 100 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC acquired a new position in shares of DT Midstream during the 4th quarter worth $205,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

DTM has been the subject of several recent research reports. Wells Fargo & Company dropped their price target on DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Bank of America assumed coverage on shares of DT Midstream in a research note on Monday, March 24th. They issued a “buy” rating and a $110.00 target price for the company. US Capital Advisors lowered shares of DT Midstream from a “moderate buy” rating to a “hold” rating in a report on Monday, April 28th. UBS Group lifted their price target on shares of DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Finally, Barclays upped their price objective on shares of DT Midstream from $102.00 to $103.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $109.27.

DT Midstream Price Performance

DT Midstream stock opened at $105.46 on Thursday. DT Midstream, Inc. has a 1 year low of $66.98 and a 1 year high of $114.50. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a 50 day moving average price of $100.00 and a 200 day moving average price of $100.31. The company has a market cap of $10.71 billion, a price-to-earnings ratio of 25.66 and a beta of 0.78.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.01). The company had revenue of $288.81 million for the quarter, compared to analysts’ expectations of $285.48 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same period in the prior year, the firm earned $0.99 earnings per share. Sell-side analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 annualized dividend and a yield of 3.11%. DT Midstream’s dividend payout ratio is presently 89.37%.

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.