Evergreen Capital Management LLC Makes New $221,000 Investment in DT Midstream, Inc. (NYSE:DTM)

Evergreen Capital Management LLC bought a new stake in DT Midstream, Inc. (NYSE:DTM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,079 shares of the company’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bright Rock Capital Management LLC bought a new stake in DT Midstream in the 1st quarter valued at about $916,000. Prevail Innovative Wealth Advisors LLC grew its position in DT Midstream by 37.9% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company’s stock worth $2,316,000 after buying an additional 10,418 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in DT Midstream by 137.6% during the first quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock worth $1,840,000 after buying an additional 17,437 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in DT Midstream in the 1st quarter valued at $1,085,000. Finally, Tortoise Index Solutions LLC raised its holdings in DT Midstream by 12.9% in the 4th quarter. Tortoise Index Solutions LLC now owns 128,107 shares of the company’s stock valued at $7,020,000 after acquiring an additional 14,598 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DTM. Stifel Nicolaus raised their price target on DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their target price on shares of DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Barclays increased their price target on shares of DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Citigroup upped their target price on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lifted their price target on DT Midstream from $75.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $70.75.

DT Midstream Stock Down 0.7 %

Shares of DTM opened at $77.76 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. DT Midstream, Inc. has a 52 week low of $50.88 and a 52 week high of $79.73. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 18.97 and a beta of 0.74. The stock has a fifty day moving average of $75.67 and a 200-day moving average of $69.11.

DT Midstream (NYSE:DTM) last posted its earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. The firm had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same period last year, the company earned $0.93 earnings per share. As a group, sell-side analysts anticipate that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Monday, September 16th. DT Midstream’s payout ratio is 71.71%.

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.