First Horizon Advisors Inc. Acquires 437 Shares of DT Midstream, Inc. (NYSE:DTM)

First Horizon Advisors Inc. increased its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 55.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,224 shares of the company’s stock after acquiring an additional 437 shares during the quarter. First Horizon Advisors Inc.’s holdings in DT Midstream were worth $96,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Quadrature Capital Ltd raised its position in shares of DT Midstream by 7.9% in the first quarter. Quadrature Capital Ltd now owns 7,149 shares of the company’s stock valued at $437,000 after purchasing an additional 522 shares during the period. Lazard Asset Management LLC acquired a new stake in DT Midstream during the first quarter worth approximately $73,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of DT Midstream by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 46,864 shares of the company’s stock worth $2,864,000 after acquiring an additional 2,997 shares during the period. Bayesian Capital Management LP grew its position in shares of DT Midstream by 10.3% in the first quarter. Bayesian Capital Management LP now owns 6,400 shares of the company’s stock valued at $391,000 after purchasing an additional 600 shares during the last quarter. Finally, Invst LLC bought a new position in shares of DT Midstream during the first quarter worth approximately $782,000. Institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $108.56 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $10.55 billion, a PE ratio of 26.41 and a beta of 0.71. The firm has a 50 day moving average of $88.36 and a 200-day moving average of $77.29. DT Midstream, Inc. has a 12 month low of $51.17 and a 12 month high of $109.85.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 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 firm had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. During the same quarter in the prior year, the firm earned $0.94 earnings per share. On average, equities research analysts predict that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.71%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Stifel Nicolaus cut shares of DT Midstream from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $78.00 to $89.00 in a research note on Wednesday, October 30th. Morgan Stanley boosted their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Finally, Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and raised their target price for the stock from $90.00 to $115.00 in a report on Thursday. 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.