Capital Asset Advisory Services LLC Makes New $242,000 Investment in DT Midstream, Inc. (NYSE:DTM)

Capital Asset Advisory Services LLC purchased a new stake in shares of DT Midstream, Inc. (NYSE:DTM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,341 shares of the company’s stock, valued at approximately $242,000.

Several other hedge funds have also made changes to their positions in DTM. UMB Bank n.a. grew its position in DT Midstream by 324.3% during the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock worth $25,000 after purchasing an additional 240 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of DT Midstream in the third quarter worth $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of DT Midstream in the third quarter worth $29,000. AdvisorNet Financial Inc grew its holdings in shares of DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after buying an additional 160 shares in the last quarter. Finally, Sound Income Strategies LLC raised its position in DT Midstream by 93.7% during the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after buying an additional 163 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Down 12.7 %

DT Midstream stock opened at $97.30 on Tuesday. 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, Inc. has a 1-year low of $51.17 and a 1-year high of $114.50. The firm’s fifty day simple moving average is $103.95 and its 200-day simple moving average is $88.93. The company has a market capitalization of $9.45 billion, a P/E ratio of 23.67 and a beta of 0.79.

DT Midstream (NYSE:DTM) last posted 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 the consensus estimate of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter last year, the business earned $0.94 earnings per share. Sell-side analysts forecast that DT Midstream, Inc. will post 3.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Morgan Stanley boosted their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Stifel Nicolaus upgraded shares of DT Midstream from a “hold” rating to a “buy” rating and increased their target price for the stock from $89.00 to $106.00 in a research report on Thursday, December 19th. JPMorgan Chase & Co. boosted their price target on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday. Finally, Wells Fargo & Company increased their price objective on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, DT Midstream presently has an average rating of “Hold” and an average target price of $99.88.

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.