HighPoint Advisor Group LLC Buys Shares of 7,011 DT Midstream, Inc. (NYSE:DTM)

HighPoint Advisor Group LLC purchased a new position in shares of DT Midstream, Inc. (NYSE:DTM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,011 shares of the company’s stock, valued at approximately $417,000.

A number of other institutional investors have also modified their holdings of the company. Wetzel Investment Advisors Inc. acquired a new stake in DT Midstream during the fourth quarter worth approximately $25,000. HHM Wealth Advisors LLC acquired a new stake in shares of DT Midstream during the fourth quarter worth $25,000. ICA Group Wealth Management LLC purchased a new stake in shares of DT Midstream in the fourth quarter valued at $32,000. Burkett Financial Services LLC acquired a new position in DT Midstream in the fourth quarter valued at $42,000. Finally, GAMMA Investing LLC purchased a new position in DT Midstream during the fourth quarter worth about $52,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

DTM has been the subject of several recent analyst reports. US Capital Advisors cut DT Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Wells Fargo & Company raised shares of DT Midstream from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $62.00 to $77.00 in a research report on Tuesday, June 4th. Barclays lifted their price target on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Mizuho upped their price objective on DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, April 29th. Finally, Stifel Nicolaus raised their price objective on DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $63.71.

DT Midstream Price Performance

Shares of NYSE DTM opened at $68.71 on Thursday. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of 16.76 and a beta of 0.73. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.71 and a quick ratio of 0.71. DT Midstream, Inc. has a 1-year low of $46.36 and a 1-year high of $69.90. The business has a 50-day moving average of $65.40 and a 200-day moving average of $59.35.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. The company had revenue of $240.00 million during the quarter, compared to the consensus estimate of $242.62 million. During the same quarter last year, the company earned $0.84 earnings per share. On average, equities analysts anticipate that DT Midstream, Inc. will post 3.94 EPS for the current fiscal year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be given a $0.735 dividend. The ex-dividend date is Monday, June 17th. This represents a $2.94 dividend on an annualized basis and a yield of 4.28%. DT Midstream’s payout ratio is currently 71.71%.

Insider Activity

In other DT Midstream news, CFO Jeffrey A. Jewell purchased 400 shares of DT Midstream stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $62.80 per share, with a total value of $25,120.00. Following the completion of the acquisition, the chief financial officer now owns 44,285 shares of the company’s stock, valued at approximately $2,781,098. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

DT Midstream Company 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.