Stifel Financial Corp Buys 19,297 Shares of DT Midstream, Inc. (NYSE:DTM)

Stifel Financial Corp boosted its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 41.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,780 shares of the company's stock after buying an additional 19,297 shares during the quarter. Stifel Financial Corp owned approximately 0.07% of DT Midstream worth $5,174,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Quantinno Capital Management LP bought a new position in DT Midstream in the third quarter valued at about $284,000. Recurrent Investment Advisors LLC raised its position in DT Midstream by 9.8% in the third quarter. Recurrent Investment Advisors LLC now owns 327,859 shares of the company's stock valued at $25,789,000 after purchasing an additional 29,156 shares during the last quarter. Point72 Asset Management L.P. bought a new position in DT Midstream in the third quarter valued at about $8,320,000. Millburn Ridgefield Corp bought a new position in DT Midstream in the third quarter valued at about $148,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in DT Midstream in the third quarter valued at about $327,000. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Stock Down 1.0 %

DT Midstream stock traded down $1.02 during mid-day trading on Friday, reaching $100.62. The stock had a trading volume of 719,964 shares, compared to its average volume of 680,307. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $109.85. The stock's 50-day simple moving average is $95.53 and its 200-day simple moving average is $81.17. The firm has a market capitalization of $9.78 billion, a PE ratio of 24.48 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last announced its earnings results 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). The company had revenue of $248.00 million for the quarter, compared to analysts' expectations 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 previous year, the firm earned $0.94 EPS. On average, sell-side analysts forecast that DT Midstream, Inc. will post 3.84 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 annualized dividend and a dividend yield of 2.92%. DT Midstream's payout ratio is 71.53%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on DT Midstream from $78.00 to $83.00 and gave the stock a "neutral" rating in a research report on Friday, October 4th. Barclays raised their price objective on DT Midstream from $85.00 to $92.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Citigroup upgraded DT Midstream from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $90.00 to $115.00 in a research report on Thursday, November 21st. Morgan Stanley raised their price objective on DT Midstream from $82.00 to $92.00 and gave the stock an "underweight" rating in a research report on Friday, October 25th. Finally, The Goldman Sachs Group raised their price objective on DT Midstream from $66.00 to $74.00 and gave the stock a "sell" rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $84.78.

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.