Raymond James Financial Services Advisors Inc. Buys 1,475 Shares of DT Midstream, Inc. (NYSE:DTM)

Raymond James Financial Services Advisors Inc. lifted its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 7.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 20,154 shares of the company’s stock after acquiring an additional 1,475 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in DT Midstream were worth $1,104,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mariner LLC lifted its holdings in shares of DT Midstream by 10.6% during the 3rd quarter. Mariner LLC now owns 20,790 shares of the company’s stock worth $1,100,000 after acquiring an additional 1,985 shares during the last quarter. JPMorgan Chase & Co. raised its position in DT Midstream by 2.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,931,337 shares of the company’s stock worth $102,960,000 after purchasing an additional 39,059 shares during the period. Comerica Bank raised its position in DT Midstream by 11,073.2% in the 3rd quarter. Comerica Bank now owns 86,257 shares of the company’s stock worth $4,565,000 after purchasing an additional 85,485 shares during the period. Whittier Trust Co. raised its position in DT Midstream by 175.0% in the 4th quarter. Whittier Trust Co. now owns 1,672 shares of the company’s stock worth $92,000 after purchasing an additional 1,064 shares during the period. Finally, Barclays PLC raised its position in DT Midstream by 100.2% in the 3rd quarter. Barclays PLC now owns 117,302 shares of the company’s stock worth $6,207,000 after purchasing an additional 58,722 shares during the period. 81.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average cost of $56.87 per share, with a total value of $56,870.00. Following the completion of the purchase, the director now directly owns 37,289 shares in the company, valued at $2,120,625.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DTM shares. Wolfe Research upgraded shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Mizuho reiterated a “neutral” rating and issued a $57.00 target price (down previously from $58.00) on shares of DT Midstream in a research report on Friday, January 5th. Finally, Barclays lifted their target price on shares of DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, DT Midstream presently has an average rating of “Hold” and a consensus target price of $58.57.

DT Midstream Price Performance

DTM stock opened at $62.64 on Monday. The firm’s 50-day moving average price is $57.89 and its two-hundred day moving average price is $55.88. DT Midstream, Inc. has a 12-month low of $45.10 and a 12-month high of $64.19. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of 15.86 and a beta of 0.73. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.72.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Friday, February 16th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.32. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. The firm had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $235.19 million. During the same quarter in the previous year, the company earned $0.93 earnings per share. As a group, equities analysts predict that DT Midstream, Inc. will post 3.85 earnings per share for the current year.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, March 18th will be paid a $0.735 dividend. This is an increase from DT Midstream’s previous quarterly dividend of $0.69. This represents a $2.94 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Friday, March 15th. DT Midstream’s dividend payout ratio is presently 74.43%.

DT Midstream Company 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.