Hennion & Walsh Asset Management Inc. Sells 181 Shares of DT Midstream, Inc. (NYSE:DTM)

Hennion & Walsh Asset Management Inc. lessened its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,263 shares of the company’s stock after selling 181 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in DT Midstream were worth $2,313,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in DT Midstream by 225.4% during the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock worth $11,449,000 after acquiring an additional 100,825 shares during the period. Friedenthal Financial bought a new position in DT Midstream during the 4th quarter worth $764,000. Atria Investments Inc bought a new position in DT Midstream during the 3rd quarter worth $666,000. Bridgewater Associates LP increased its stake in DT Midstream by 57.6% during the 3rd quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock worth $14,576,000 after acquiring an additional 67,725 shares during the period. Finally, State Street Corp increased its stake in DT Midstream by 6.4% during the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after acquiring an additional 202,447 shares during the period. Institutional investors own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. 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 note on Friday, October 25th. Stifel Nicolaus upgraded DT Midstream from a “hold” rating to a “buy” rating and lifted their price target for the company from $89.00 to $106.00 in a research note on Thursday, December 19th. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and lifted their price target for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. JPMorgan Chase & Co. lifted their price target on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Finally, The Goldman Sachs Group lifted their price target on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $95.88.

DT Midstream Trading Up 0.2 %

NYSE DTM opened at $112.55 on Friday. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 27.38 and a beta of 0.79. DT Midstream, Inc. has a twelve month low of $51.17 and a twelve month high of $112.86. The business’s fifty day moving average is $102.80 and its 200 day moving average is $87.01. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM) last announced its earnings results on Tuesday, October 29th. The company reported $0.90 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 analyst estimates of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same period in the previous year, the firm posted $0.94 earnings per share. As a group, sell-side analysts expect 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 was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Monday, December 16th. DT Midstream’s payout ratio 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.