Sequoia Financial Advisors LLC Buys 1,494 Shares of DT Midstream, Inc. (NYSE:DTM)

Sequoia Financial Advisors LLC lifted its stake in shares of DT Midstream, Inc. (NYSE:DTMFree Report) by 22.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,082 shares of the company’s stock after buying an additional 1,494 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in DT Midstream were worth $636,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Century Financial Group LLC acquired a new stake in DT Midstream during the third quarter worth approximately $341,000. Raymond James & Associates lifted its holdings in DT Midstream by 68.4% during the 3rd quarter. Raymond James & Associates now owns 30,554 shares of the company’s stock worth $2,403,000 after purchasing an additional 12,406 shares during the last quarter. First Citizens Bank & Trust Co. boosted its stake in DT Midstream by 6.9% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 3,532 shares of the company’s stock valued at $278,000 after purchasing an additional 228 shares during the period. Blue Trust Inc. grew its holdings in DT Midstream by 83.0% in the 3rd quarter. Blue Trust Inc. now owns 1,889 shares of the company’s stock valued at $149,000 after buying an additional 857 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new position in DT Midstream during the 3rd quarter worth $29,000. Institutional investors own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

DTM has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Barclays raised their target price on shares of DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Morgan Stanley boosted their price target on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday. Wells Fargo & Company increased their price target on DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus lifted their price objective on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $77.38.

Get Our Latest Stock Report on DT Midstream

DT Midstream Stock Down 0.6 %

Shares of DTM opened at $87.39 on Friday. The firm has a 50 day simple moving average of $80.02 and a two-hundred day simple moving average of $72.53. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $88.21. The company has a market cap of $8.49 billion, a P/E ratio of 21.31 and a beta of 0.74.

DT Midstream (NYSE:DTMGet Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The company had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same quarter in the previous year, the firm earned $0.93 EPS. Research analysts forecast that DT Midstream, Inc. will post 3.99 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th were issued a $0.735 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.36%. DT Midstream’s dividend payout ratio (DPR) is currently 71.71%.

About DT Midstream

(Free Report)

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.

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Institutional Ownership by Quarter for DT Midstream (NYSE:DTM)

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