Invst LLC Purchases Shares of 12,772 DT Midstream, Inc. (NYSE:DTM)

Invst LLC acquired a new stake in shares of DT Midstream, Inc. (NYSE:DTM) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,772 shares of the company’s stock, valued at approximately $782,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of DTM. First Trust Advisors LP raised its stake in shares of DT Midstream by 284.6% during the fourth quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock valued at $83,537,000 after acquiring an additional 1,128,056 shares during the last quarter. Norges Bank bought a new position in shares of DT Midstream during the fourth quarter valued at about $61,638,000. Dimensional Fund Advisors LP raised its stake in shares of DT Midstream by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock valued at $186,407,000 after acquiring an additional 266,433 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of DT Midstream by 14.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 809,126 shares of the company’s stock valued at $49,438,000 after acquiring an additional 99,755 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of DT Midstream by 551.3% during the first quarter. GSA Capital Partners LLP now owns 55,764 shares of the company’s stock valued at $3,407,000 after acquiring an additional 47,202 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

DT Midstream Stock Down 2.7 %

Shares of NYSE DTM traded down $2.01 on Friday, reaching $72.85. 674,783 shares of the company’s stock traded hands, compared to its average volume of 759,034. DT Midstream, Inc. has a 12 month low of $50.54 and a 12 month high of $76.35. The business’s 50 day simple moving average is $70.40 and its two-hundred day simple moving average is $63.19. The company has a market cap of $7.07 billion, a price-to-earnings ratio of 17.77 and a beta of 0.74. The company has a quick ratio of 0.71, a current ratio of 0.84 and a debt-to-equity ratio of 0.71.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The firm had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $236.83 million. During the same quarter in the prior year, the company posted $0.93 earnings per share. As a group, equities research analysts forecast that DT Midstream, Inc. will post 3.9 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Monday, September 16th. DT Midstream’s payout ratio is 71.71%.

Analyst Ratings Changes

A number of research firms recently issued reports on DTM. JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $75.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Company increased their price target on shares of DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday. US Capital Advisors downgraded shares of DT Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Stifel Nicolaus increased their price target on shares of DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Barclays increased their price target on shares of DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $70.00.

About DT Midstream

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.