Strs Ohio Raises Stake in DT Midstream, Inc. (NYSE:DTM)

Strs Ohio boosted its position in DT Midstream, Inc. (NYSE:DTM) by 20.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,979 shares of the company’s stock after buying an additional 8,105 shares during the quarter. Strs Ohio’s holdings in DT Midstream were worth $2,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of DTM. JPMorgan Chase & Co. boosted its stake in DT Midstream by 7.1% in the first quarter. JPMorgan Chase & Co. now owns 225,447 shares of the company’s stock worth $12,233,000 after buying an additional 14,913 shares in the last quarter. American Century Companies Inc. boosted its stake in DT Midstream by 5.0% in the first quarter. American Century Companies Inc. now owns 5,889 shares of the company’s stock worth $320,000 after buying an additional 278 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in DT Midstream by 4.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,058 shares of the company’s stock worth $763,000 after buying an additional 551 shares in the last quarter. HighTower Advisors LLC boosted its stake in DT Midstream by 23.0% in the first quarter. HighTower Advisors LLC now owns 9,218 shares of the company’s stock worth $500,000 after buying an additional 1,724 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in shares of DT Midstream by 31.3% during the first quarter. Citigroup Inc. now owns 21,331 shares of the company’s stock valued at $1,157,000 after purchasing an additional 5,087 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

DTM opened at $63.23 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63. DT Midstream, Inc. has a 52-week low of $45.10 and a 52-week high of $64.19. The stock has a market capitalization of $6.14 billion, a PE ratio of 16.01 and a beta of 0.73. The stock’s 50 day moving average price is $58.94 and its 200-day moving average price is $56.18.

DT Midstream (NYSE:DTM) last posted its earnings results on Friday, February 16th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.32. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. The firm had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $235.19 million. During the same period in the previous year, the firm earned $0.93 earnings per share. On average, equities research analysts predict that DT Midstream, Inc. will post 3.86 EPS for the current year.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were paid a dividend of $0.735 per share. The ex-dividend date was Friday, March 15th. This is a boost from DT Midstream’s previous quarterly dividend of $0.69. This represents a $2.94 annualized dividend and a dividend yield of 4.65%. DT Midstream’s payout ratio is 74.43%.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the transaction, the director now directly owns 37,289 shares of the company’s stock, valued at approximately $2,120,625.43. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DTM. Wolfe Research raised shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, February 20th. Mizuho restated a “neutral” rating and issued a $57.00 price objective (down previously from $58.00) on shares of DT Midstream in a research report on Friday, January 5th. Finally, Barclays increased their target price on shares of DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $58.50.

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.