Cary Street Partners Investment Advisory LLC Buys 4,588 Shares of DT Midstream, Inc. $DTM

Cary Street Partners Investment Advisory LLC raised its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 1,544.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,885 shares of the company’s stock after buying an additional 4,588 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in DT Midstream were worth $552,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Miller Howard Investments Inc. NY boosted its position in DT Midstream by 24.9% in the third quarter. Miller Howard Investments Inc. NY now owns 210,411 shares of the company’s stock worth $23,789,000 after purchasing an additional 41,929 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of DT Midstream by 76.7% in the 3rd quarter. Principal Financial Group Inc. now owns 500,329 shares of the company’s stock worth $56,568,000 after purchasing an additional 217,185 shares in the last quarter. Clean Energy Transition LLP increased its stake in shares of DT Midstream by 84.7% in the 2nd quarter. Clean Energy Transition LLP now owns 324,763 shares of the company’s stock worth $35,695,000 after purchasing an additional 148,911 shares in the last quarter. First American Bank bought a new position in DT Midstream in the 3rd quarter worth $1,373,000. Finally, 59 North Capital Management LP purchased a new position in DT Midstream during the second quarter valued at $226,757,000. 81.53% of the stock is owned by institutional investors.

DT Midstream Trading Up 1.4%

DTM stock opened at $137.93 on Tuesday. The firm has a fifty day moving average price of $123.69 and a 200 day moving average price of $115.19. DT Midstream, Inc. has a fifty-two week low of $83.30 and a fifty-two week high of $138.31. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $14.03 billion, a PE ratio of 32.00, a price-to-earnings-growth ratio of 2.43 and a beta of 0.77.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Thursday, February 19th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.03). The company had revenue of $317.00 million during the quarter, compared to analysts’ expectations of $320.07 million. DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.During the same quarter in the prior year, the business posted $0.94 EPS. Sell-side analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, March 16th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.82. DT Midstream’s dividend payout ratio (DPR) is 76.10%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, January 21st. UBS Group increased their target price on shares of DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a report on Friday. Bank of America lifted their price target on shares of DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Mizuho upped their price target on shares of DT Midstream from $108.00 to $129.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Finally, Jefferies Financial Group set a $148.00 price objective on shares of DT Midstream and gave the stock a “buy” rating in a research note on Friday. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, DT Midstream currently has a consensus rating of “Moderate Buy” and an average target price of $133.82.

DT Midstream Profile

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.