Princeton Global Asset Management LLC Acquires 200 Shares of DT Midstream, Inc. (NYSE:DTM)

Princeton Global Asset Management LLC boosted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 8.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,525 shares of the company’s stock after purchasing an additional 200 shares during the period. Princeton Global Asset Management LLC’s holdings in DT Midstream were worth $199,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in DT Midstream by 76.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company’s stock worth $46,000 after acquiring an additional 330 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in DT Midstream by 8.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 6,596 shares of the company’s stock valued at $403,000 after purchasing an additional 537 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in DT Midstream in the first quarter valued at about $284,000. GSA Capital Partners LLP grew its stake in DT Midstream by 551.3% during the first quarter. GSA Capital Partners LLP now owns 55,764 shares of the company’s stock worth $3,407,000 after buying an additional 47,202 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its holdings in shares of DT Midstream by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 84,868 shares of the company’s stock worth $5,185,000 after buying an additional 1,158 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Down 1.3 %

NYSE DTM opened at $88.96 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a 12 month low of $51.17 and a 12 month high of $91.50. The company has a market capitalization of $8.64 billion, a PE ratio of 21.64 and a beta of 0.71. The stock has a 50-day simple moving average of $81.36 and a 200 day simple moving average of $73.46.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter in the prior year, the business earned $0.94 earnings per share. Research analysts forecast that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Dividend Announcement

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 dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s payout ratio is presently 71.53%.

Wall Street Analyst Weigh In

DTM has been the topic of several recent analyst reports. Stifel Nicolaus downgraded DT Midstream from a “buy” rating to a “hold” rating and boosted their target price for the stock from $78.00 to $89.00 in a report on Wednesday, October 30th. Barclays raised their target price on DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Morgan Stanley increased their price target on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Citigroup boosted their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lifted their target price on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, DT Midstream currently has an average rating of “Hold” and an average target price of $80.38.

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.