Farther Finance Advisors LLC Increases Stake in DT Midstream, Inc. (NYSE:DTM)

Farther Finance Advisors LLC increased its stake in DT Midstream, Inc. (NYSE:DTM) by 24.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,495 shares of the company’s stock after purchasing an additional 296 shares during the quarter. Farther Finance Advisors LLC’s holdings in DT Midstream were worth $147,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in DT Midstream by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock valued at $1,049,363,000 after buying an additional 359,017 shares in the last quarter. Deutsche Bank AG increased its stake in DT Midstream by 5.5% during the fourth quarter. Deutsche Bank AG now owns 2,831,830 shares of the company’s stock valued at $281,569,000 after purchasing an additional 147,790 shares during the last quarter. Geode Capital Management LLC increased its stake in DT Midstream by 18.7% during the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company’s stock valued at $243,948,000 after purchasing an additional 386,670 shares during the last quarter. Blackstone Inc. grew its position in shares of DT Midstream by 2,783.1% during the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock worth $162,199,000 after acquiring an additional 1,574,705 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of DT Midstream by 24.7% during the fourth quarter. Invesco Ltd. now owns 1,487,901 shares of the company’s stock worth $147,942,000 after acquiring an additional 294,583 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Wells Fargo & Company dropped their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. UBS Group increased their price objective on DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Williams Trading set a $110.00 target price on DT Midstream in a research report on Monday, March 24th. Finally, US Capital Advisors downgraded shares of DT Midstream from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $109.27.

DT Midstream Stock Performance

Shares of NYSE DTM opened at $106.35 on Friday. The stock’s fifty day moving average price is $102.09 and its two-hundred day moving average price is $100.33. The firm has a market cap of $10.80 billion, a price-to-earnings ratio of 28.98, a P/E/G ratio of 1.68 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.82 and a quick ratio of 0.82. DT Midstream, Inc. has a one year low of $68.88 and a one year high of $114.50.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.01). The business had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. DT Midstream had a return on equity of 8.46% and a net margin of 34.96%. During the same quarter in the prior year, the company earned $0.99 earnings per share. On average, equities analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a $0.82 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a yield of 3.08%. DT Midstream’s dividend payout ratio (DPR) is presently 89.37%.

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.