Hancock Whitney Corp Makes New Investment in DT Midstream, Inc. (NYSE:DTM)

Hancock Whitney Corp bought a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,434 shares of the company's stock, valued at approximately $585,000.

Several other hedge funds also recently modified their holdings of DTM. Blue Trust Inc. boosted its holdings in DT Midstream by 16.0% in the second quarter. Blue Trust Inc. now owns 1,032 shares of the company's stock worth $73,000 after purchasing an additional 142 shares in the last quarter. Caprock Group LLC lifted its position in shares of DT Midstream by 3.7% in the third quarter. Caprock Group LLC now owns 4,058 shares of the company's stock worth $322,000 after buying an additional 143 shares during the last quarter. TFG Advisers LLC lifted its position in shares of DT Midstream by 3.1% in the third quarter. TFG Advisers LLC now owns 5,774 shares of the company's stock worth $454,000 after buying an additional 172 shares during the last quarter. Princeton Global Asset Management LLC boosted its stake in shares of DT Midstream by 8.6% during the 3rd quarter. Princeton Global Asset Management LLC now owns 2,525 shares of the company's stock worth $199,000 after acquiring an additional 200 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in shares of DT Midstream by 1.1% during the 2nd quarter. Raymond James & Associates now owns 18,148 shares of the company's stock valued at $1,289,000 after acquiring an additional 201 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DTM. Barclays boosted their target price on DT Midstream from $85.00 to $92.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Citigroup raised shares of DT Midstream from a "neutral" rating to a "buy" rating and lifted their price target for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Wells Fargo & Company upped their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Stifel Nicolaus lowered shares of DT Midstream from a "buy" rating to a "hold" rating and raised their target price for the company from $78.00 to $89.00 in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their target price on shares of DT Midstream from $66.00 to $74.00 and gave the stock a "sell" rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, DT Midstream presently has a consensus rating of "Hold" and an average price target of $84.78.

DT Midstream Trading Up 0.4 %

Shares of DTM stock opened at $107.14 on Wednesday. The firm has a market capitalization of $10.41 billion, a P/E ratio of 25.97 and a beta of 0.71. DT Midstream, Inc. has a 1 year low of $51.17 and a 1 year high of $109.85. The firm's fifty day simple moving average is $88.93 and its 200 day simple moving average is $77.67. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. During the same quarter in the previous year, the firm posted $0.94 EPS. As a group, sell-side analysts predict that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 annualized dividend and a yield of 2.74%. DT Midstream's dividend payout ratio (DPR) is 71.53%.

DT Midstream 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.