Cary Street Partners Investment Advisory LLC Buys 4,588 Shares of DT Midstream, Inc. $DTM

Cary Street Partners Investment Advisory LLC grew its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 1,544.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,885 shares of the company’s stock after purchasing an additional 4,588 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in DT Midstream were worth $552,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mather Group LLC. purchased a new stake in DT Midstream in the third quarter worth about $30,000. Centerpoint Advisors LLC raised its position in shares of DT Midstream by 198.9% in the 3rd quarter. Centerpoint Advisors LLC now owns 269 shares of the company’s stock worth $30,000 after acquiring an additional 179 shares in the last quarter. First Horizon Corp bought a new position in shares of DT Midstream in the 3rd quarter worth approximately $32,000. Root Financial Partners LLC purchased a new position in shares of DT Midstream in the 3rd quarter valued at approximately $33,000. Finally, Westside Investment Management Inc. boosted its position in shares of DT Midstream by 100.0% during the third quarter. Westside Investment Management Inc. now owns 290 shares of the company’s stock valued at $33,000 after purchasing an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

DTM has been the topic of several recent research reports. UBS Group upped their price target on DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a research note on Friday. Stifel Nicolaus set a $137.00 target price on shares of DT Midstream in a report on Monday. Wells Fargo & Company reiterated an “overweight” rating and issued a $150.00 price target on shares of DT Midstream in a research note on Sunday. JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $118.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, December 2nd. Finally, Barclays upped their price objective on shares of DT Midstream from $114.00 to $119.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.82.

DT Midstream Price Performance

Shares of NYSE DTM opened at $137.93 on Tuesday. DT Midstream, Inc. has a twelve month low of $83.30 and a twelve month high of $138.31. The firm has a market cap of $14.03 billion, a P/E ratio of 32.00, a PEG ratio of 2.43 and a beta of 0.77. The company has a 50 day moving average of $123.69 and a 200 day moving average of $115.19. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

DT Midstream (NYSE:DTM) last issued its earnings results on Thursday, February 19th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.03). The business had revenue of $317.00 million for the quarter, compared to analysts’ expectations of $320.07 million. DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. During the same quarter in the prior year, the business posted $0.94 earnings per share. As a group, research analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. This is a boost from DT Midstream’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 16th. DT Midstream’s payout ratio is 76.10%.

About DT Midstream

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.