Hennion & Walsh Asset Management Inc. Sells 1,488 Shares of DT Midstream, Inc. (NYSE:DTM)

Hennion & Walsh Asset Management Inc. lessened its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 6.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,444 shares of the company’s stock after selling 1,488 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in DT Midstream were worth $1,844,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DTM. UMB Bank n.a. raised its holdings in DT Midstream by 324.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock worth $25,000 after purchasing an additional 240 shares in the last quarter. Family Firm Inc. purchased a new stake in DT Midstream in the second quarter worth about $26,000. V Square Quantitative Management LLC bought a new stake in DT Midstream during the 3rd quarter valued at approximately $29,000. First Command Advisory Services Inc. bought a new stake in DT Midstream during the 2nd quarter valued at approximately $31,000. Finally, American National Bank grew its holdings in shares of DT Midstream by 100.0% during the 2nd quarter. American National Bank now owns 468 shares of the company’s stock worth $33,000 after acquiring an additional 234 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

Shares of NYSE DTM opened at $87.39 on Friday. The firm has a market cap of $8.49 billion, a P/E ratio of 21.31 and a beta of 0.74. DT Midstream, Inc. has a twelve month low of $51.17 and a twelve month high of $88.21. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average of $80.02 and a 200 day moving average of $72.46.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.06. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The firm had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. During the same quarter in the previous year, the business earned $0.93 earnings per share. As a group, research analysts expect that DT Midstream, Inc. will post 3.99 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th were paid a $0.735 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.36%. DT Midstream’s dividend payout ratio is presently 71.71%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DTM. Morgan Stanley lifted their price target on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday. Citigroup upped their target price on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Barclays lifted their price target on shares of DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Stifel Nicolaus raised their target price 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. boosted their price target on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, DT Midstream presently has an average rating of “Hold” and a consensus target price of $77.38.

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.