Ashton Thomas Securities LLC Purchases New Position in DT Midstream, Inc. (NYSE:DTM)

Ashton Thomas Securities LLC acquired a new stake in shares of DT Midstream, Inc. (NYSE:DTM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 706 shares of the company’s stock, valued at approximately $56,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DTM. UMB Bank n.a. lifted its position in shares of DT Midstream by 324.3% in the third quarter. UMB Bank n.a. now owns 314 shares of the company’s stock worth $25,000 after buying an additional 240 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of DT Midstream in the 3rd quarter valued at approximately $29,000. Family Firm Inc. bought a new position in shares of DT Midstream in the 2nd quarter valued at approximately $26,000. First Command Advisory Services Inc. acquired a new stake in DT Midstream in the 2nd quarter worth approximately $31,000. Finally, American National Bank boosted its position in DT Midstream by 100.0% during the second quarter. American National Bank now owns 468 shares of the company’s stock worth $33,000 after purchasing an additional 234 shares during the period. Institutional investors own 81.53% of the company’s stock.

Analysts Set New Price Targets

DTM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Morgan Stanley boosted their target price on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Barclays raised their price target on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Stifel Nicolaus cut DT Midstream from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $78.00 to $89.00 in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their target price on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $80.44.

DT Midstream Stock Down 1.6 %

DTM stock opened at $98.20 on Thursday. DT Midstream, Inc. has a twelve month low of $51.17 and a twelve month high of $100.97. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a market cap of $9.54 billion, a PE ratio of 23.89 and a beta of 0.71. The business’s 50-day simple moving average is $84.42 and its 200 day simple moving average is $75.30.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.05). The firm had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same period in the previous year, the business posted $0.94 EPS. On average, research analysts anticipate that DT Midstream, Inc. will post 3.96 earnings per share for the current year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.99%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

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.