Parcion Private Wealth LLC Invests $216,000 in DT Midstream, Inc. (NYSE:DTM)

Parcion Private Wealth LLC acquired a new position in shares of DT Midstream, Inc. (NYSE:DTM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,746 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DTM. Allspring Global Investments Holdings LLC lifted its holdings in shares of DT Midstream by 76.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company’s stock worth $46,000 after acquiring an additional 330 shares during the period. State of Michigan Retirement System lifted its holdings in shares of DT Midstream by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 23,855 shares of the company’s stock worth $1,458,000 after acquiring an additional 600 shares during the period. Maryland State Retirement & Pension System lifted its holdings in DT Midstream by 1.5% during the 1st quarter. Maryland State Retirement & Pension System now owns 90,197 shares of the company’s stock valued at $5,592,000 after purchasing an additional 1,369 shares during 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. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in DT Midstream by 14.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 809,126 shares of the company’s stock valued at $49,438,000 after purchasing an additional 99,755 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DTM has been the subject of several analyst reports. Morgan Stanley lifted their price target on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday. Stifel Nicolaus lifted their price target on shares of DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Barclays lifted their price target on shares of DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price target 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, Citigroup raised their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. One investment analyst has 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 stock presently has a consensus rating of “Hold” and an average price target of $77.38.

DT Midstream Stock Down 0.6 %

Shares of NYSE:DTM opened at $87.39 on Friday. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $88.21. The company has a 50 day moving average of $80.02 and a 200-day moving average of $72.53. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 21.31 and a beta of 0.74.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The company had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. During the same quarter in the previous year, the company earned $0.93 EPS. On average, sell-side analysts forecast that DT Midstream, Inc. will post 3.99 earnings per share for the current year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 16th were paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 3.36%. The ex-dividend date was Monday, September 16th. DT Midstream’s payout ratio is 71.71%.

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.