DT Midstream, Inc. (NYSE:DTM) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 22.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,059 shares of the company’s stock after buying an additional 1,106 shares during the period. Sequoia Financial Advisors LLC’s holdings in DT Midstream were worth $332,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DTM. JPMorgan Chase & Co. raised its stake in shares of DT Midstream by 7.1% during the 1st quarter. JPMorgan Chase & Co. now owns 225,447 shares of the company’s stock worth $12,233,000 after buying an additional 14,913 shares during the period. American Century Companies Inc. increased its position in shares of DT Midstream by 5.0% during the first quarter. American Century Companies Inc. now owns 5,889 shares of the company’s stock worth $320,000 after purchasing an additional 278 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of DT Midstream by 4.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,058 shares of the company’s stock worth $763,000 after purchasing an additional 551 shares in the last quarter. HighTower Advisors LLC increased its position in shares of DT Midstream by 23.0% during the first quarter. HighTower Advisors LLC now owns 9,218 shares of the company’s stock worth $500,000 after purchasing an additional 1,724 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of DT Midstream by 31.3% during the first quarter. Citigroup Inc. now owns 21,331 shares of the company’s stock worth $1,157,000 after purchasing an additional 5,087 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on DTM. Mizuho reiterated a “neutral” rating and set a $57.00 price target (down from $58.00) on shares of DT Midstream in a research report on Friday, January 5th. Barclays boosted their price target on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, Wolfe Research upgraded DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $58.50.

DT Midstream Stock Up 0.4 %

Shares of NYSE:DTM opened at $62.75 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.72. The business has a fifty day moving average of $58.71 and a two-hundred day moving average of $56.10. The stock has a market cap of $6.09 billion, a P/E ratio of 15.89 and a beta of 0.73. DT Midstream, Inc. has a 52-week low of $45.10 and a 52-week high of $64.19.

DT Midstream (NYSE:DTM) last issued its earnings results on Friday, February 16th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.32. The company had revenue of $244.00 million during the quarter, compared to analysts’ expectations 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 in the prior year, the business earned $0.93 EPS. On average, research analysts expect that DT Midstream, Inc. will post 3.85 earnings per share for the current year.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were issued a dividend of $0.735 per share. The ex-dividend date was Friday, March 15th. This is a boost 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 4.69%. DT Midstream’s dividend payout ratio is currently 74.43%.

Insider Transactions at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction dated Monday, February 26th. The stock was acquired at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the acquisition, the director now owns 37,289 shares in the company, valued at approximately $2,120,625.43. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.04% of the company’s stock.

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.