Raymond James & Associates Purchases 12,406 Shares of DT Midstream, Inc. (NYSE:DTM)

Raymond James & Associates grew its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 68.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,554 shares of the company's stock after purchasing an additional 12,406 shares during the period. Raymond James & Associates' holdings in DT Midstream were worth $2,403,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Blue Trust Inc. raised its position in DT Midstream by 16.0% during the second quarter. Blue Trust Inc. now owns 1,032 shares of the company's stock valued at $73,000 after buying an additional 142 shares during the period. First Horizon Advisors Inc. increased its position in DT Midstream by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 787 shares of the company's stock worth $56,000 after purchasing an additional 224 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in DT Midstream by 6.9% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 3,532 shares of the company's stock worth $278,000 after purchasing an additional 228 shares during the last quarter. Signaturefd LLC increased its position in DT Midstream by 11.7% in the 2nd quarter. Signaturefd LLC now owns 2,212 shares of the company's stock worth $157,000 after purchasing an additional 232 shares during the last quarter. Finally, American National Bank increased its position in DT Midstream by 100.0% in the 2nd quarter. American National Bank now owns 468 shares of the company's stock worth $33,000 after purchasing an additional 234 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on DTM shares. Citigroup upped their price target on DT Midstream from $62.00 to $76.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 4th. Barclays upped their price target on DT Midstream from $85.00 to $92.00 and gave the stock an "overweight" rating in a research note on Monday. Wells Fargo & Company upped their price target on DT Midstream from $87.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on DT Midstream from $78.00 to $83.00 and gave the stock a "neutral" rating in a research note on Friday, October 4th. Finally, Morgan Stanley upped their price target on DT Midstream from $82.00 to $92.00 and gave the stock an "underweight" rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, DT Midstream has an average rating of "Hold" and an average price target of $80.44.

DT Midstream Stock Up 4.3 %

Shares of DTM traded up $3.93 during midday trading on Wednesday, hitting $96.16. The stock had a trading volume of 1,135,793 shares, compared to its average volume of 644,011. The company has a 50 day simple moving average of $81.95 and a two-hundred day simple moving average of $73.93. DT Midstream, Inc. has a twelve month low of $51.17 and a twelve month high of $96.67. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 23.26 and a beta of 0.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

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

DT Midstream Announces Dividend

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 given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream's dividend payout ratio (DPR) is presently 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.