Janney Montgomery Scott LLC Purchases 6,271 Shares of DT Midstream, Inc. (NYSE:DTM)

Janney Montgomery Scott LLC raised its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 59.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,848 shares of the company's stock after purchasing an additional 6,271 shares during the quarter. Janney Montgomery Scott LLC's holdings in DT Midstream were worth $1,626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in DT Midstream by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock valued at $1,049,363,000 after purchasing an additional 359,017 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of DT Midstream by 5.5% in the fourth quarter. Deutsche Bank AG now owns 2,831,830 shares of the company's stock worth $281,569,000 after buying an additional 147,790 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of DT Midstream by 18.7% in the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock worth $243,948,000 after buying an additional 386,670 shares in the last quarter. Blackstone Inc. lifted its holdings in shares of DT Midstream by 2,783.1% in the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock worth $162,199,000 after buying an additional 1,574,705 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of DT Midstream by 24.7% in the fourth quarter. Invesco Ltd. now owns 1,487,901 shares of the company's stock worth $147,942,000 after buying an additional 294,583 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Price Performance

DTM traded down $0.89 on Friday, reaching $108.98. The company had a trading volume of 1,346,676 shares, compared to its average volume of 900,808. The business has a 50 day simple moving average of $103.30 and a 200 day simple moving average of $100.56. The company has a market cap of $11.07 billion, a price-to-earnings ratio of 29.69, a P/E/G ratio of 1.74 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 0.82. DT Midstream, Inc. has a 52-week low of $68.88 and a 52-week high of $114.50.

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

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Monday, June 16th. DT Midstream's dividend payout ratio is 89.37%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of DT Midstream in a report on Monday, March 24th. They issued a "buy" rating and a $110.00 price target on the stock. Williams Trading set a $110.00 price target on shares of DT Midstream in a report on Monday, March 24th. US Capital Advisors downgraded shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. UBS Group increased their price target on shares of DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, Morgan Stanley set a $115.00 price target on shares of DT Midstream and gave the stock an "underweight" rating in a report on Tuesday, June 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $109.27.

About DT Midstream

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.