DT Midstream, Inc. (NYSE:DTM) Shares Purchased by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC grew its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 3,834.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 101,196 shares of the company's stock after acquiring an additional 98,624 shares during the quarter. Icon Wealth Advisors LLC owned 0.10% of DT Midstream worth $7,960,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. UMB Bank n.a. raised its stake 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 purchasing an additional 240 shares during the last quarter. Family Firm Inc. acquired a new stake in DT Midstream during the 2nd quarter valued at approximately $26,000. V Square Quantitative Management LLC acquired a new stake in DT Midstream during the 3rd quarter worth about $29,000. First Command Advisory Services Inc. acquired a new position in shares of DT Midstream in the 2nd quarter valued at about $31,000. Finally, American National Bank boosted its stake in shares of DT Midstream by 100.0% in the second quarter. American National Bank now owns 468 shares of the company's stock worth $33,000 after buying an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Trading Up 0.1 %

Shares of DT Midstream stock traded up $0.15 during mid-day trading on Friday, hitting $108.56. The stock had a trading volume of 902,837 shares, compared to its average volume of 984,293. The firm has a 50-day moving average of $88.36 and a two-hundred day moving average of $77.20. The firm has a market cap of $10.55 billion, a P/E ratio of 26.41 and a beta of 0.71. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a 12-month low of $51.17 and a 12-month high of $109.85.

DT Midstream (NYSE:DTM - Get Free Report) last issued 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). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The business had revenue of $248.00 million during the quarter, compared to analysts' expectations of $242.64 million. During the same quarter in the previous year, the company posted $0.94 earnings per share. Sell-side analysts forecast that DT Midstream, Inc. will post 3.96 earnings per share for the current 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 dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.71%. The ex-dividend date is Monday, December 16th. DT Midstream's dividend payout ratio (DPR) is presently 71.53%.

Wall Street Analyst Weigh In

DTM has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on DT Midstream from $87.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Morgan Stanley increased their price target on shares of DT Midstream from $82.00 to $92.00 and gave the stock an "underweight" rating in a report on Friday, October 25th. Citigroup raised shares of DT Midstream from a "neutral" rating to a "buy" rating and increased their target price for the stock from $90.00 to $115.00 in a research note on Thursday. The Goldman Sachs Group lifted their price target on DT Midstream from $66.00 to $74.00 and gave the company a "sell" rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their target price on DT Midstream from $78.00 to $83.00 and gave the stock a "neutral" rating in a research note on Friday, October 4th. Two equities research 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 data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $84.78.

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.