DT Midstream, Inc. (NYSE:DTM) Shares Purchased by Wedmont Private Capital

Wedmont Private Capital lifted its holdings in DT Midstream, Inc. (NYSE:DTM) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,318 shares of the company’s stock after acquiring an additional 175 shares during the period. Wedmont Private Capital’s holdings in DT Midstream were worth $308,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Louisiana State Employees Retirement System boosted its position in DT Midstream by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock worth $2,685,000 after purchasing an additional 100 shares during the period. Jones Financial Companies Lllp boosted its position in shares of DT Midstream by 15.0% in the fourth quarter. Jones Financial Companies Lllp now owns 768 shares of the company’s stock worth $76,000 after buying an additional 100 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of DT Midstream by 1.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock valued at $1,235,000 after buying an additional 116 shares in the last quarter. Lakeshore Financial Planning Inc. raised its holdings in shares of DT Midstream by 4.2% during the 4th quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company’s stock valued at $285,000 after buying an additional 116 shares during the period. Finally, Bessemer Group Inc. raised its holdings in shares of DT Midstream by 61.6% during the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock valued at $30,000 after buying an additional 117 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

Shares of NYSE DTM opened at $105.46 on Thursday. 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 has a market capitalization of $10.71 billion, a price-to-earnings ratio of 25.66 and a beta of 0.78. DT Midstream, Inc. has a twelve month low of $66.98 and a twelve month high of $114.50. The business has a 50 day simple moving average of $100.00 and a 200-day simple moving average of $100.31.

DT Midstream (NYSE:DTM) last released its earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.01). The business had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter in the previous year, the firm earned $0.99 EPS. As a group, equities research analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Monday, June 16th. DT Midstream’s dividend payout ratio is presently 89.37%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DTM. US Capital Advisors cut DT Midstream from a “moderate buy” rating to a “hold” rating in a report on Monday, April 28th. UBS Group raised their price target on shares of DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Morgan Stanley set a $115.00 price target on shares of DT Midstream and gave the stock an “underweight” rating in a research note on Tuesday, June 3rd. Barclays upped their price objective on shares of DT Midstream from $102.00 to $103.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company dropped their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $109.27.

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.