Wealth Enhancement Advisory Services LLC Acquires 748 Shares of DT Midstream, Inc. (NYSE:DTM)

Wealth Enhancement Advisory Services LLC increased its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 8.7% during the third quarter, HoldingsChannel reports. The fund owned 9,320 shares of the company’s stock after acquiring an additional 748 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in DT Midstream were worth $733,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in DT Midstream by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock valued at $312,070,000 after acquiring an additional 490,613 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in DT Midstream by 1.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company’s stock worth $144,398,000 after purchasing an additional 37,463 shares during the period. Bank of New York Mellon Corp boosted its stake in DT Midstream by 3.4% during the second quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock worth $82,870,000 after buying an additional 38,305 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in DT Midstream by 6.3% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock worth $72,737,000 after buying an additional 60,370 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in DT Midstream in the 3rd quarter valued at $39,166,000. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Trading Up 4.3 %

DTM stock opened at $96.16 on Thursday. The business has a fifty day moving average price of $81.95 and a 200 day moving average price of $73.93. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $96.67. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of 23.40 and a beta of 0.71.

DT Midstream (NYSE:DTM) last announced its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same quarter last year, the business posted $0.94 earnings per share. Analysts expect that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s dividend payout ratio is presently 71.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DTM shares. Stifel Nicolaus downgraded shares of DT Midstream from a “buy” rating to a “hold” rating and raised their price objective for the stock from $78.00 to $89.00 in a report on Wednesday, October 30th. Barclays raised their price target on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. lifted their price objective on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. The Goldman Sachs Group increased their target price on DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a report on Tuesday. Finally, Citigroup boosted their price target on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $80.44.

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.