AE Wealth Management LLC Purchases 4,394 Shares of DT Midstream, Inc. (NYSE:DTM)

Key Points

• AE Wealth Management LLC increased its stake in DT Midstream, Inc. by 64.1% during the first quarter, now holding 11,244 shares valued at $1,085,000.
• The company reported $1.06 earnings per share (EPS) for the last quarter, missing the analysts' estimate by $0.01, with a revenue of $288.81 million.
• DT Midstream announced a quarterly dividend of $0.82, leading to an annualized yield of 3.28% and a payout ratio of 89.37%.

AE Wealth Management LLC raised its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 64.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,244 shares of the company's stock after purchasing an additional 4,394 shares during the quarter. AE Wealth Management LLC's holdings in DT Midstream were worth $1,085,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of DT Midstream by 18.9% in the first quarter. CWM LLC now owns 4,201 shares of the company's stock worth $405,000 after buying an additional 669 shares during the period. OneDigital Investment Advisors LLC purchased a new stake in DT Midstream in the first quarter worth $274,000. Bessemer Group Inc. lifted its position in shares of DT Midstream by 44.0% during the first quarter. Bessemer Group Inc. now owns 442 shares of the company's stock worth $43,000 after purchasing an additional 135 shares during the last quarter. True Link Financial Advisors LLC purchased a new stake in shares of DT Midstream during the first quarter valued at $238,000. Finally, Catalyst Capital Advisors LLC grew its holdings in shares of DT Midstream by 10.1% in the first quarter. Catalyst Capital Advisors LLC now owns 144,025 shares of the company's stock worth $13,896,000 after purchasing an additional 13,243 shares during the last quarter. Institutional investors own 81.53% of the company's stock.

DT Midstream Trading Down 0.6%

Shares of NYSE:DTM opened at $100.08 on Monday. The company has a market capitalization of $10.17 billion, a PE ratio of 27.27, a P/E/G ratio of 1.81 and a beta of 0.78. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a 12-month low of $69.82 and a 12-month high of $114.50. The business's fifty day simple moving average is $104.75 and its 200-day simple moving average is $100.86.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.01). The company had revenue of $288.81 million during the quarter, compared to analysts' expectations of $285.48 million. DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. During the same quarter last year, the firm earned $0.99 EPS. As a group, equities research analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date was Monday, June 16th. DT Midstream's payout ratio is currently 89.37%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DTM shares. Barclays lifted their price objective on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. US Capital Advisors downgraded shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Morgan Stanley set a $115.00 price objective on DT Midstream and gave the stock an "underweight" rating in a research note on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $109.27.

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.

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