Independent Advisor Alliance Sells 824 Shares of DT Midstream, Inc. (NYSE:DTM)

Independent Advisor Alliance lessened its position in shares of DT Midstream, Inc. (NYSE:DTM) by 16.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,191 shares of the company’s stock after selling 824 shares during the period. Independent Advisor Alliance’s holdings in DT Midstream were worth $330,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Atria Investments Inc acquired a new stake in DT Midstream during the 3rd quarter worth about $666,000. Cetera Investment Advisers grew its stake in DT Midstream by 1,223.2% during the first quarter. Cetera Investment Advisers now owns 54,107 shares of the company’s stock worth $3,306,000 after purchasing an additional 50,018 shares during the period. Envestnet Asset Management Inc. increased its holdings in DT Midstream by 15.3% in the second quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock worth $8,657,000 after purchasing an additional 16,171 shares in the last quarter. GSA Capital Partners LLP lifted its stake in DT Midstream by 31.9% in the third quarter. GSA Capital Partners LLP now owns 27,209 shares of the company’s stock valued at $2,140,000 after buying an additional 6,575 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of DT Midstream by 151.8% during the 3rd quarter. Victory Capital Management Inc. now owns 113,374 shares of the company’s stock worth $8,918,000 after buying an additional 68,350 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. The Goldman Sachs Group lifted their price target on shares of DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. Barclays increased their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Wells Fargo & Company boosted their target price on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus lowered DT Midstream from a “buy” rating to a “hold” rating and increased their price target for the stock from $78.00 to $89.00 in a report on Wednesday, October 30th. Two investment 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 MarketBeat, the company currently has an average rating of “Hold” and an average price target of $84.78.

DT Midstream Price Performance

DTM stock opened at $105.81 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The business has a 50-day simple moving average of $90.08 and a two-hundred day simple moving average of $78.16. The company has a market capitalization of $10.28 billion, a P/E ratio of 25.74 and a beta of 0.71. DT Midstream, Inc. has a 52-week low of $51.17 and a 52-week high of $109.85.

DT Midstream (NYSE:DTM) 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). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The company had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $242.64 million. During the same period in the previous year, the firm earned $0.94 EPS. Research analysts expect that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $0.735 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 annualized dividend and a dividend yield of 2.78%. DT Midstream’s payout ratio is 71.53%.

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.