Hancock Whitney Corp Takes $585,000 Position in DT Midstream, Inc. (NYSE:DTM)

Hancock Whitney Corp purchased a new position in DT Midstream, Inc. (NYSE:DTM) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,434 shares of the company’s stock, valued at approximately $585,000.

Several other large investors also recently added to or reduced their stakes in the stock. UMB Bank n.a. boosted its holdings in shares of DT Midstream by 324.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock worth $25,000 after purchasing an additional 240 shares during the period. V Square Quantitative Management LLC bought a new stake in DT Midstream in the third quarter worth $29,000. Family Firm Inc. purchased a new position in DT Midstream during the second quarter worth $26,000. First Command Advisory Services Inc. bought a new position in DT Midstream during the second quarter valued at $31,000. Finally, American National Bank raised its stake in shares of DT Midstream by 100.0% in the second quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after acquiring an additional 234 shares during the period. 81.53% of the stock is owned by institutional investors.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $106.75 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average price is $88.93 and its 200-day moving average price is $77.67. The firm has a market cap of $10.37 billion, a P/E ratio of 25.97 and a beta of 0.71. DT Midstream, Inc. has a 12 month low of $51.17 and a 12 month high of $109.85.

DT Midstream (NYSE:DTM) last posted its earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The business had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $242.64 million. During the same period last year, the business posted $0.94 EPS. On average, equities research analysts expect that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is 71.53%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Wells Fargo & Company upped their target price on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus lowered DT Midstream from a “buy” rating to a “hold” rating and raised their price target for the stock from $78.00 to $89.00 in a research note on Wednesday, October 30th. Morgan Stanley upped their price objective on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Finally, The Goldman Sachs Group lifted their target price on DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $84.78.

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.