DT Midstream, Inc. (NYSE:DTM) Shares Acquired by Creative Planning

Creative Planning increased its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 8.1% in the 3rd quarter, Holdings Channel reports. The firm owned 41,800 shares of the company’s stock after purchasing an additional 3,145 shares during the period. Creative Planning’s holdings in DT Midstream were worth $3,288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DTM. UMB Bank n.a. lifted its holdings in DT Midstream by 324.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock valued at $25,000 after purchasing an additional 240 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of DT Midstream in the second quarter valued at about $26,000. First Command Advisory Services Inc. acquired a new position in DT Midstream during the second quarter worth about $31,000. American National Bank grew its stake in DT Midstream by 100.0% during the 2nd quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after acquiring an additional 234 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in DT Midstream by 76.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company’s stock valued at $46,000 after acquiring an additional 330 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Price Performance

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 $72.46. The stock has a market cap of $8.49 billion, a PE ratio of 21.31 and a beta of 0.74. DT Midstream, Inc. has a 1-year low of $51.17 and a 1-year high of $88.21. 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 (NYSE:DTM) last announced its earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The company had revenue of $244.00 million for the quarter, compared to analyst estimates of $236.83 million. During the same quarter in the previous year, the company earned $0.93 earnings per share. As a group, analysts forecast that DT Midstream, Inc. will post 3.99 EPS for the current year.

DT Midstream Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DTM shares. Citigroup boosted their target price on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Barclays raised their target price on DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their price target 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. Stifel Nicolaus upped their price objective on shares of DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley lifted their target price on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $77.38.

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.