Gilliland Jeter Wealth Management LLC Purchases New Position in DT Midstream, Inc. (NYSE:DTM)

Gilliland Jeter Wealth Management LLC purchased a new stake in shares of DT Midstream, Inc. (NYSE:DTM) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 11,212 shares of the company’s stock, valued at approximately $614,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Deutsche Bank AG grew its holdings in DT Midstream by 1,176.7% in the third quarter. Deutsche Bank AG now owns 867,145 shares of the company’s stock worth $45,889,000 after purchasing an additional 799,224 shares during the period. Eagle Global Advisors LLC purchased a new stake in DT Midstream in the third quarter worth about $8,590,000. Envestnet Asset Management Inc. grew its holdings in DT Midstream by 186.3% in the third quarter. Envestnet Asset Management Inc. now owns 157,152 shares of the company’s stock worth $8,316,000 after purchasing an additional 102,255 shares during the period. Covalis Capital LLP purchased a new stake in DT Midstream in the third quarter worth about $5,077,000. Finally, Comerica Bank grew its holdings in DT Midstream by 11,073.2% in the third quarter. Comerica Bank now owns 86,257 shares of the company’s stock worth $4,565,000 after purchasing an additional 85,485 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DTM. Wolfe Research upgraded shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Mizuho reiterated a “neutral” rating and issued a $57.00 target price (down previously from $58.00) on shares of DT Midstream in a research note on Friday, January 5th. Finally, Barclays upped their target price on shares of DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $58.50.

Insiders Place Their Bets

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were acquired at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the transaction, the director now owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

DT Midstream Stock Performance

DT Midstream stock traded down $0.55 during midday trading on Friday, reaching $64.04. 702,590 shares of the company traded hands, compared to its average volume of 708,724. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 16.22 and a beta of 0.73. The business has a 50 day moving average of $60.05 and a two-hundred day moving average of $56.56. DT Midstream, Inc. has a 12 month low of $45.10 and a 12 month high of $64.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.63 and a quick ratio of 0.63.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Friday, February 16th. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.32. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. The company had revenue of $244.00 million for the quarter, compared to the consensus estimate of $235.19 million. During the same quarter in the prior year, the firm earned $0.93 earnings per share. As a group, research analysts predict that DT Midstream, Inc. will post 3.95 earnings per share for the current year.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were given a $0.735 dividend. The ex-dividend date was Friday, March 15th. This is an increase from DT Midstream’s previous quarterly dividend of $0.69. This represents a $2.94 annualized dividend and a yield of 4.59%. DT Midstream’s dividend payout ratio (DPR) is presently 74.43%.

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.