DT Midstream, Inc. (NYSE:DTM) Shares Bought by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 3,834.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 101,196 shares of the company’s stock after buying an additional 98,624 shares during the period. Icon Wealth Advisors LLC’s holdings in DT Midstream were worth $7,960,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of DT Midstream by 12.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock valued at $312,070,000 after purchasing an additional 490,613 shares during the period. Bank of New York Mellon Corp raised its position in shares of DT Midstream by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock worth $82,870,000 after buying an additional 38,305 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of DT Midstream by 30.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after acquiring an additional 267,269 shares during the period. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of DT Midstream by 6.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock valued at $72,737,000 after acquiring an additional 60,370 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of DT Midstream during the third quarter valued at approximately $39,166,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

DTM has been the topic of several research analyst reports. The Goldman Sachs Group lifted their price target on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th. Stifel Nicolaus cut shares of DT Midstream from a “buy” rating to a “hold” rating and boosted their price target for the stock from $78.00 to $89.00 in a research report on Wednesday, October 30th. Morgan Stanley raised their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their target price on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Finally, Wells Fargo & Company upped their price target on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, DT Midstream has an average rating of “Hold” and an average target price of $84.78.

DT Midstream Trading Up 5.4 %

NYSE DTM opened at $108.31 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a 1-year low of $51.17 and a 1-year high of $108.56. The firm’s fifty day simple moving average is $87.72 and its 200-day simple moving average is $76.89. The company has a market capitalization of $10.52 billion, a PE ratio of 26.35 and a beta of 0.71.

DT Midstream (NYSE:DTM) last issued its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same period in the previous year, the company earned $0.94 earnings per share. As a group, sell-side analysts anticipate 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 given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s payout ratio is presently 71.53%.

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.