Gilliland Jeter Wealth Management LLC Makes New Investment in DT Midstream, Inc. (NYSE:DTM)

Gilliland Jeter Wealth Management LLC purchased a new stake in DT Midstream, Inc. (NYSE:DTM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,212 shares of the company’s stock, valued at approximately $614,000.

Several other large investors also recently made changes to their positions in DTM. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of DT Midstream in the third quarter valued at approximately $505,000. Linden Thomas Advisory Services LLC acquired a new position in shares of DT Midstream during the third quarter valued at approximately $779,000. Accurate Wealth Management LLC increased its stake in shares of DT Midstream by 8.3% during the third quarter. Accurate Wealth Management LLC now owns 4,288 shares of the company’s stock valued at $240,000 after acquiring an additional 330 shares during the period. Independent Advisor Alliance acquired a new position in shares of DT Midstream during the third quarter valued at approximately $270,000. Finally, Lindbrook Capital LLC increased its stake in shares of DT Midstream by 91.2% during the third quarter. Lindbrook Capital LLC now owns 11,948 shares of the company’s stock valued at $632,000 after acquiring an additional 5,699 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wolfe Research upgraded shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, February 20th. Barclays raised their price objective on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Finally, Mizuho reiterated a “neutral” rating and set a $57.00 price objective (down previously from $58.00) on shares of DT Midstream in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, DT Midstream has an average rating of “Hold” and an average price target of $58.50.

Insider Buying and Selling

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $56.87 per share, with a total value of $56,870.00. Following the purchase, the director now owns 37,289 shares of the company’s stock, valued at approximately $2,120,625.43. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.04% of the company’s stock.

DT Midstream Price Performance

DT Midstream stock traded down $0.55 during mid-day trading on Friday, hitting $64.04. The company’s stock had a trading volume of 702,590 shares, compared to its average volume of 708,724. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $6.22 billion, a P/E ratio of 16.22 and a beta of 0.73. DT Midstream, Inc. has a twelve month low of $45.10 and a twelve month high of $64.69. The stock’s fifty day moving average price is $60.05 and its two-hundred day moving average price is $56.56.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Friday, February 16th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.32. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. The firm had revenue of $244.00 million for the quarter, compared to analyst estimates of $235.19 million. During the same quarter in the previous year, the business posted $0.93 earnings per share. Research analysts forecast that DT Midstream, Inc. will post 3.95 earnings per share for the current year.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 18th were paid a $0.735 dividend. This is a positive change from DT Midstream’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Friday, March 15th. This represents a $2.94 dividend on an annualized basis and a yield of 4.59%. DT Midstream’s dividend payout ratio (DPR) is currently 74.43%.

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.