CoreCap Advisors LLC Buys New Stake in DT Midstream, Inc. (NYSE:DTM)

CoreCap Advisors LLC purchased a new stake in shares of DT Midstream, Inc. (NYSE:DTM) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,223 shares of the company’s stock, valued at approximately $1,010,000.

Several other institutional investors have also bought and sold shares of the business. International Assets Investment Management LLC bought a new position in shares of DT Midstream in the 4th quarter valued at about $815,000. Victory Capital Management Inc. boosted its holdings in shares of DT Midstream by 17.1% in the 4th quarter. Victory Capital Management Inc. now owns 24,300 shares of the company’s stock worth $1,332,000 after purchasing an additional 3,545 shares during the period. Natixis Advisors L.P. increased its position in shares of DT Midstream by 29.0% during the 4th quarter. Natixis Advisors L.P. now owns 17,156 shares of the company’s stock valued at $940,000 after purchasing an additional 3,861 shares during the last quarter. Private Advisor Group LLC purchased a new stake in DT Midstream during the 4th quarter valued at $206,000. Finally, Charles Schwab Investment Management Inc. lifted its position in DT Midstream by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 841,896 shares of the company’s stock worth $46,136,000 after buying an additional 44,482 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Citigroup increased their target price on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $75.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Stifel Nicolaus upped their target price on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Barclays raised their price target on DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company upped their price objective on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.75.

DT Midstream Price Performance

DTM opened at $76.80 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $74.30 and its 200-day simple moving average is $67.64. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 18.73 and a beta of 0.74. DT Midstream, Inc. has a 12-month low of $50.88 and a 12-month high of $78.83.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The business had revenue of $244.00 million during the quarter, compared to analyst estimates of $236.83 million. During the same quarter in the previous year, the business posted $0.93 EPS. On average, equities research analysts anticipate that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.94 annualized dividend and a yield of 3.83%. DT Midstream’s dividend payout ratio (DPR) is presently 71.71%.

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.