Beacon Pointe Advisors LLC Takes Position in DT Midstream, Inc. (NYSE:DTM)

Beacon Pointe Advisors LLC acquired a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,944 shares of the company's stock, valued at approximately $293,000.

Several other institutional investors have also recently modified their holdings of the stock. Friedenthal Financial acquired a new position in shares of DT Midstream in the fourth quarter worth $764,000. Truist Financial Corp purchased a new stake in DT Midstream during the 4th quarter worth about $771,000. Thrivent Financial for Lutherans raised its stake in DT Midstream by 55.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the company's stock valued at $3,536,000 after purchasing an additional 12,755 shares during the last quarter. UMB Bank n.a. lifted its holdings in DT Midstream by 53.2% in the 4th quarter. UMB Bank n.a. now owns 481 shares of the company's stock valued at $48,000 after purchasing an additional 167 shares in the last quarter. Finally, Atria Investments Inc grew its holdings in shares of DT Midstream by 82.0% during the fourth quarter. Atria Investments Inc now owns 15,412 shares of the company's stock worth $1,532,000 after buying an additional 6,946 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Trading Up 1.2 %

NYSE DTM traded up $1.18 during mid-day trading on Friday, hitting $101.28. The company's stock had a trading volume of 628,764 shares, compared to its average volume of 866,929. The firm has a market capitalization of $10.29 billion, a P/E ratio of 24.64 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream, Inc. has a 52-week low of $64.56 and a 52-week high of $114.50. The stock's fifty day simple moving average is $95.66 and its two-hundred day simple moving average is $99.01.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The company had revenue of $288.81 million during the quarter, compared to analysts' expectations of $285.48 million. During the same period last year, the business earned $0.99 earnings per share. Research analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Monday, June 16th. DT Midstream's dividend payout ratio is presently 89.37%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DTM shares. JPMorgan Chase & Co. upped their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. UBS Group increased their price target on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Bank of America assumed coverage on DT Midstream in a research note on Monday, March 24th. They issued a "buy" rating and a $110.00 target price for the company. Morgan Stanley raised their price target on DT Midstream from $92.00 to $105.00 and gave the stock an "underweight" rating in a research note on Tuesday, March 25th. Finally, Raymond James lifted their price target on DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, DT Midstream currently has an average rating of "Hold" and an average price target of $108.27.

Insider Buying and Selling at DT Midstream

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average cost of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought 1,235 shares of company stock valued at $109,867 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

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.