Hancock Whitney Corp Buys Shares of 7,434 DT Midstream, Inc. (NYSE:DTM)

Hancock Whitney Corp purchased a new position in DT Midstream, Inc. (NYSE:DTM) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 7,434 shares of the company’s stock, valued at approximately $585,000.

A number of other large investors have also made changes to their positions in the business. Blue Trust Inc. raised its stake in DT Midstream by 16.0% in the second quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock valued at $73,000 after buying an additional 142 shares during the last quarter. Caprock Group LLC lifted its stake in shares of DT Midstream by 3.7% during the third quarter. Caprock Group LLC now owns 4,058 shares of the company’s stock worth $322,000 after buying an additional 143 shares during the period. TFG Advisers LLC grew its stake in DT Midstream by 3.1% during the 3rd quarter. TFG Advisers LLC now owns 5,774 shares of the company’s stock valued at $454,000 after purchasing an additional 172 shares during the last quarter. Princeton Global Asset Management LLC raised its stake in shares of DT Midstream by 8.6% in the third quarter. Princeton Global Asset Management LLC now owns 2,525 shares of the company’s stock worth $199,000 after purchasing an additional 200 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of DT Midstream by 1.1% during the second quarter. Raymond James & Associates now owns 18,148 shares of the company’s stock worth $1,289,000 after purchasing an additional 201 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on DTM shares. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and increased their price target for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price objective on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. The Goldman Sachs Group lifted their target price 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. Barclays upped their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Morgan Stanley raised their target price on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $84.78.

DT Midstream Price Performance

NYSE:DTM opened at $106.75 on Wednesday. The stock has a 50 day moving average of $88.93 and a two-hundred day moving average of $77.67. DT Midstream, Inc. has a 12 month low of $51.17 and a 12 month high of $109.85. The firm has a market cap of $10.37 billion, a P/E ratio of 25.97 and a beta of 0.71. 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 (NYSE:DTM) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 EPS 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 for the quarter, compared to analysts’ expectations of $242.64 million. During the same quarter in the previous year, the firm posted $0.94 earnings per share. On average, analysts expect that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is 71.53%.

DT Midstream 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.