Nisa Investment Advisors LLC Buys 1,005 Shares of DT Midstream, Inc. (NYSE:DTM)

Nisa Investment Advisors LLC lifted its position in DT Midstream, Inc. (NYSE:DTM) by 6.4% during the 4th quarter, HoldingsChannel reports. The firm owned 16,670 shares of the company’s stock after acquiring an additional 1,005 shares during the quarter. Nisa Investment Advisors LLC’s holdings in DT Midstream were worth $914,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DTM. Geneos Wealth Management Inc. bought a new stake in DT Midstream in the 1st quarter worth approximately $30,000. Chilton Capital Management LLC purchased a new stake in DT Midstream during the first quarter valued at $39,000. First Horizon Advisors Inc. lifted its position in DT Midstream by 192.3% during the third quarter. First Horizon Advisors Inc. now owns 947 shares of the company’s stock valued at $50,000 after purchasing an additional 623 shares during the last quarter. Blue Trust Inc. grew its stake in shares of DT Midstream by 28.3% in the 4th quarter. Blue Trust Inc. now owns 992 shares of the company’s stock worth $53,000 after buying an additional 219 shares in the last quarter. Finally, ICA Group Wealth Management LLC purchased a new position in shares of DT Midstream in the 4th quarter worth $59,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Price Performance

Shares of DTM stock opened at $62.19 on Tuesday. The stock has a 50 day moving average price of $58.08 and a 200 day moving average price of $55.94. DT Midstream, Inc. has a 52-week low of $45.10 and a 52-week high of $64.19. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market capitalization of $6.04 billion, a P/E ratio of 15.74 and a beta of 0.73.

DT Midstream (NYSE:DTM) last released its earnings results on Friday, February 16th. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.32. The business had revenue of $244.00 million during the quarter, compared to the consensus estimate of $235.19 million. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. During the same period last year, the company earned $0.93 earnings per share. As a group, sell-side 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 announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were given a dividend of $0.735 per share. The ex-dividend date was Friday, March 15th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.69. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.73%. DT Midstream’s dividend payout ratio (DPR) is 74.43%.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average price 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 can be accessed through this hyperlink. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

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

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.