Valmark Advisers Inc. Makes New $235,000 Investment in DT Midstream, Inc. (NYSE:DTM)

Valmark Advisers Inc. purchased a new position in DT Midstream, Inc. (NYSE:DTM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,363 shares of the company’s stock, valued at approximately $235,000.

Several other institutional investors have also added to or reduced their stakes in DTM. Wellington Management Group LLP raised its position in shares of DT Midstream by 225.4% during the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock valued at $11,449,000 after purchasing an additional 100,825 shares during the period. Friedenthal Financial bought a new stake in shares of DT Midstream during the 4th quarter valued at $764,000. Atria Investments Inc bought a new stake in shares of DT Midstream during the 3rd quarter valued at $666,000. Bridgewater Associates LP raised its position in shares of DT Midstream by 57.6% during the 3rd quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock valued at $14,576,000 after purchasing an additional 67,725 shares during the period. Finally, State Street Corp raised its position in shares of DT Midstream by 6.4% during the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after purchasing an additional 202,447 shares during the period. 81.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and raised their price objective for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Morgan Stanley raised their target price on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their target price on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Barclays assumed coverage on shares of DT Midstream in a research note on Friday, January 10th. They set an “equal weight” rating and a $112.00 target price for the company. Finally, The Goldman Sachs Group raised their target price on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $101.56.

DT Midstream Stock Performance

Shares of NYSE:DTM opened at $101.65 on Wednesday. DT Midstream, Inc. has a 52 week low of $55.05 and a 52 week high of $114.50. The stock has a market capitalization of $9.88 billion, a P/E ratio of 24.73 and a beta of 0.79. The firm has a fifty day simple moving average of $103.02 and a two-hundred day simple moving average of $92.03. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

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.