Focus Partners Wealth Has $24.24 Million Stock Position in DT Midstream, Inc. (NYSE:DTM)

Focus Partners Wealth lowered its position in shares of DT Midstream, Inc. (NYSE:DTM) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 243,739 shares of the company’s stock after selling 2,328 shares during the quarter. Focus Partners Wealth’s holdings in DT Midstream were worth $24,242,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in DTM. Friedenthal Financial bought a new position in shares of DT Midstream in the fourth quarter worth about $764,000. Truist Financial Corp bought a new position in shares of DT Midstream in the fourth quarter worth about $771,000. Thrivent Financial for Lutherans raised its stake in shares of DT Midstream by 55.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the company’s stock worth $3,536,000 after acquiring an additional 12,755 shares during the last quarter. UMB Bank n.a. raised its stake in shares of DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after acquiring an additional 167 shares during the last quarter. Finally, Atria Investments Inc raised its stake in shares of DT Midstream by 82.0% in the fourth quarter. Atria Investments Inc now owns 15,412 shares of the company’s stock worth $1,532,000 after acquiring an additional 6,946 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Performance

Shares of DTM stock opened at $101.28 on Monday. The company’s fifty day simple moving average is $95.66 and its 200-day simple moving average is $99.09. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market cap of $10.29 billion, a PE ratio of 24.64 and a beta of 0.77. DT Midstream, Inc. has a 12 month low of $64.56 and a 12 month high of $114.50.

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

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Monday, June 16th. DT Midstream’s payout ratio is presently 89.37%.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the purchase, the director now owns 38,653 shares of the company’s stock, valued at approximately $3,359,718.76. The trade was a 2.66% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 1,235 shares of company stock valued at $109,867 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Williams Trading set a $110.00 price target on shares of DT Midstream in a research note on Monday, March 24th. JPMorgan Chase & Co. boosted their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Wells Fargo & Company dropped their price target on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Morgan Stanley boosted their price target on shares of DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 25th. Finally, Raymond James boosted their price target on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, DT Midstream presently has a consensus rating of “Hold” and a consensus target price of $108.27.

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.