Envestnet Portfolio Solutions Inc. Invests $234,000 in DT Midstream, Inc. (NYSE:DTM)

Envestnet Portfolio Solutions Inc. bought a new stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,291 shares of the company's stock, valued at approximately $234,000.

Several other institutional investors have also added to or reduced their stakes in the business. HHM Wealth Advisors LLC bought a new position in shares of DT Midstream in the fourth quarter worth approximately $25,000. Mather Group LLC. bought a new stake in DT Midstream during the 1st quarter valued at approximately $29,000. ICA Group Wealth Management LLC purchased a new position in DT Midstream in the 4th quarter worth approximately $32,000. Burkett Financial Services LLC bought a new stake in shares of DT Midstream during the fourth quarter valued at approximately $42,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of DT Midstream by 76.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company's stock worth $46,000 after buying an additional 330 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DTM shares. US Capital Advisors cut DT Midstream from an "overweight" rating to a "hold" rating in a report on Monday, April 29th. Mizuho upped their price objective on DT Midstream from $57.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday, April 29th. Wells Fargo & Company raised their target price on shares of DT Midstream from $77.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Stifel Nicolaus upped their price target on shares of DT Midstream from $70.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of DT Midstream from $75.00 to $78.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, DT Midstream has an average rating of "Hold" and an average target price of $70.00.

DT Midstream Trading Up 1.1 %

Shares of DT Midstream stock traded up $0.81 during trading on Friday, hitting $76.57. The stock had a trading volume of 446,692 shares, compared to its average volume of 655,248. DT Midstream, Inc. has a 12 month low of $50.54 and a 12 month high of $76.78. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.71. The firm's fifty day simple moving average is $72.31 and its 200-day simple moving average is $65.29. The stock has a market cap of $7.44 billion, a PE ratio of 18.68 and a beta of 0.74.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.06. The business had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same quarter last year, the firm earned $0.93 earnings per share. As a group, sell-side analysts expect that DT Midstream, Inc. will post 3.9 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 3.84%. The ex-dividend date is Monday, September 16th. DT Midstream's dividend payout ratio (DPR) is presently 71.71%.

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.