Hennessy Advisors Inc. Acquires 10,400 Shares of DT Midstream, Inc. (NYSE:DTM)

Hennessy Advisors Inc. raised its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 6.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 176,300 shares of the company’s stock after purchasing an additional 10,400 shares during the period. Hennessy Advisors Inc. owned 0.18% of DT Midstream worth $17,530,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. UMB Bank n.a. increased its holdings in DT Midstream by 324.3% during the third quarter. UMB Bank n.a. now owns 314 shares of the company’s stock valued at $25,000 after buying an additional 240 shares during the period. V Square Quantitative Management LLC bought a new position in shares of DT Midstream in the 3rd quarter worth $29,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of DT Midstream during the 3rd quarter worth $29,000. AdvisorNet Financial Inc grew its stake in DT Midstream by 106.7% in the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after purchasing an additional 160 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in DT Midstream in the third quarter worth about $40,000. Institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Performance

NYSE:DTM opened at $112.35 on Friday. DT Midstream, Inc. has a twelve month low of $51.17 and a twelve month high of $112.73. The company has a market cap of $10.92 billion, a P/E ratio of 27.34 and a beta of 0.79. 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 50-day moving average price is $102.51 and its 200-day moving average price is $86.72.

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). The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter in the prior year, the firm earned $0.94 earnings per share. On average, sell-side analysts forecast that DT Midstream, Inc. will post 3.84 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were issued a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Monday, December 16th. DT Midstream’s payout ratio is currently 71.53%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DTM shares. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $90.00 to $115.00 in a research report on Thursday, November 21st. Wells Fargo & Company increased their price objective on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Barclays initiated coverage on DT Midstream in a research report on Friday, January 10th. They set an “equal weight” rating and a $112.00 target price on the stock. The Goldman Sachs Group upped their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, DT Midstream has an average rating of “Hold” and an average price target of $95.88.

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.