Beacon Pointe Advisors LLC Acquires New Holdings in DT Midstream, Inc. (NYSE:DTM)

Beacon Pointe Advisors LLC acquired a new stake in DT Midstream, Inc. (NYSE:DTM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,810 shares of the company’s stock, valued at approximately $209,000.

A number of other institutional investors have also made changes to their positions in DTM. Dimensional Fund Advisors LP increased its position in DT Midstream by 8.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock worth $186,407,000 after buying an additional 266,433 shares during the period. JPMorgan Chase & Co. increased its position in DT Midstream by 2.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,931,337 shares of the company’s stock worth $102,960,000 after buying an additional 39,059 shares during the period. Reaves W H & Co. Inc. increased its position in DT Midstream by 5.4% in the 3rd quarter. Reaves W H & Co. Inc. now owns 962,954 shares of the company’s stock worth $50,960,000 after buying an additional 49,414 shares during the period. Invesco Ltd. increased its position in DT Midstream by 6.0% in the 3rd quarter. Invesco Ltd. now owns 921,917 shares of the company’s stock worth $48,788,000 after buying an additional 52,188 shares during the period. Finally, Deutsche Bank AG increased its position in DT Midstream by 1,176.7% in the 3rd quarter. Deutsche Bank AG now owns 867,145 shares of the company’s stock worth $45,889,000 after buying an additional 799,224 shares during the period. 81.53% of the stock is owned by institutional investors.

DT Midstream Price Performance

Shares of DTM stock opened at $66.37 on Monday. The stock’s fifty day simple moving average is $63.03 and its 200 day simple moving average is $57.99. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of 16.19 and a beta of 0.72. DT Midstream, Inc. has a one year low of $45.20 and a one year high of $67.38.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. The business had revenue of $240.00 million for the quarter, compared to analyst estimates of $242.62 million. DT Midstream had a return on equity of 9.41% and a net margin of 42.46%. During the same quarter in the previous year, the firm earned $0.84 EPS. On average, analysts expect that DT Midstream, Inc. will post 3.92 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend is Monday, June 17th. DT Midstream’s dividend payout ratio is 71.71%.

Insider Activity at DT Midstream

In related news, CFO Jeffrey A. Jewell purchased 400 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $62.80 per share, with a total value of $25,120.00. Following the purchase, the chief financial officer now directly owns 44,285 shares in the company, valued at $2,781,098. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.04% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on DTM. Mizuho lifted their price target on DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. Wolfe Research raised DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Stifel Nicolaus lifted their price objective on DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Barclays lifted their price objective on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, US Capital Advisors lowered DT Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $61.50.

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.