J.W. Cole Advisors Inc. Invests $867,000 in DT Midstream, Inc. (NYSE:DTM)

J.W. Cole Advisors Inc. bought a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,985 shares of the company's stock, valued at approximately $867,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its holdings in DT Midstream by 27.4% during the 1st quarter. IFP Advisors Inc now owns 1,601 shares of the company's stock valued at $155,000 after buying an additional 344 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in DT Midstream during the 1st quarter valued at approximately $25,000. Kestra Private Wealth Services LLC grew its holdings in shares of DT Midstream by 85.0% in the first quarter. Kestra Private Wealth Services LLC now owns 4,460 shares of the company's stock valued at $430,000 after purchasing an additional 2,049 shares in the last quarter. Forum Financial Management LP grew its holdings in shares of DT Midstream by 16.5% in the first quarter. Forum Financial Management LP now owns 3,952 shares of the company's stock valued at $381,000 after purchasing an additional 561 shares in the last quarter. Finally, Sigma Planning Corp grew its holdings in shares of DT Midstream by 5.5% in the first quarter. Sigma Planning Corp now owns 20,284 shares of the company's stock valued at $1,957,000 after purchasing an additional 1,062 shares in the last quarter. Institutional investors own 81.53% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DTM shares. Morgan Stanley set a $115.00 target price on shares of DT Midstream and gave the company an "underweight" rating in a report on Tuesday, June 3rd. US Capital Advisors lowered shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Finally, Barclays raised their target price 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $109.27.

DT Midstream Trading Down 1.0%

NYSE DTM traded down $1.01 on Monday, hitting $99.16. 57,800 shares of the stock were exchanged, compared to its average volume of 1,027,966. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a fifty day moving average price of $104.75 and a two-hundred day moving average price of $100.86. The firm has a market capitalization of $10.07 billion, a P/E ratio of 27.02, a P/E/G ratio of 1.81 and a beta of 0.78. DT Midstream, Inc. has a 52-week low of $69.82 and a 52-week high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last posted 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). The firm 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 in the previous year, the firm earned $0.99 earnings per share. Research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th were given a dividend of $0.82 per share. The ex-dividend date was Monday, June 16th. This represents a $3.28 annualized dividend and a dividend yield of 3.31%. DT Midstream's dividend payout ratio (DPR) is 89.37%.

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.