Caprock Group LLC Has $322,000 Stock Position in DT Midstream, Inc. (NYSE:DTM)

Caprock Group LLC boosted its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 3.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,058 shares of the company’s stock after buying an additional 143 shares during the period. Caprock Group LLC’s holdings in DT Midstream were worth $322,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in DT Midstream by 16.0% during the 2nd quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock worth $73,000 after buying an additional 142 shares during the period. TFG Advisers LLC raised its holdings in DT Midstream by 3.1% during the 3rd quarter. TFG Advisers LLC now owns 5,774 shares of the company’s stock worth $454,000 after buying an additional 172 shares during the period. Princeton Global Asset Management LLC raised its holdings in DT Midstream by 8.6% during the 3rd quarter. Princeton Global Asset Management LLC now owns 2,525 shares of the company’s stock worth $199,000 after buying an additional 200 shares during the period. Raymond James & Associates raised its holdings in DT Midstream by 1.1% during the 2nd quarter. Raymond James & Associates now owns 18,148 shares of the company’s stock worth $1,289,000 after buying an additional 201 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in DT Midstream by 39.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 787 shares of the company’s stock worth $56,000 after buying an additional 224 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Price Performance

Shares of DTM opened at $108.56 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. The company’s fifty day simple moving average is $88.36 and its 200 day simple moving average is $77.29. DT Midstream, Inc. has a 1-year low of $51.17 and a 1-year high of $109.85. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 26.41 and a beta of 0.71.

DT Midstream (NYSE:DTM) last released its quarterly earnings data 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 return on equity of 9.31% and a net margin of 41.19%. The company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. During the same period last year, the firm earned $0.94 earnings per share. On average, research analysts forecast that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 2.71%. DT Midstream’s dividend payout ratio (DPR) is 71.53%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DTM. Wells Fargo & Company lifted their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group lifted their price objective on shares of DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a report on Tuesday, November 5th. Stifel Nicolaus downgraded shares of DT Midstream from a “buy” rating to a “hold” rating and lifted their price objective for the company from $78.00 to $89.00 in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Finally, Barclays lifted their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DT Midstream currently has a consensus rating of “Hold” and a consensus price target of $84.78.

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.