Legacy Wealth Asset Management LLC bought a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 3,263 shares of the company's stock, valued at approximately $315,000.
Other institutional investors have also recently bought and sold shares of the company. Truist Financial Corp acquired a new stake in shares of DT Midstream in the 4th quarter valued at about $771,000. Thrivent Financial for Lutherans grew its holdings in shares of DT Midstream by 55.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the company's stock worth $3,536,000 after buying an additional 12,755 shares in the last quarter. Atria Investments Inc lifted its stake in DT Midstream by 82.0% in the 4th quarter. Atria Investments Inc now owns 15,412 shares of the company's stock valued at $1,532,000 after acquiring an additional 6,946 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in DT Midstream during the 4th quarter worth approximately $645,000. Finally, Blackstone Inc. boosted its position in DT Midstream by 2,783.1% during the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock worth $162,199,000 after acquiring an additional 1,574,705 shares during the last quarter. Institutional investors own 81.53% of the company's stock.
Insider Activity at DT Midstream
In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now owns 38,653 shares of the company's stock, valued at $3,359,718.76. This represents a 2.66% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by insiders.
DT Midstream Trading Up 1.1%
NYSE DTM traded up $1.14 during trading on Thursday, hitting $107.70. 114,351 shares of the company's stock traded hands, compared to its average volume of 877,519. The firm has a market cap of $10.94 billion, a P/E ratio of 26.20 and a beta of 0.78. The stock has a fifty day moving average of $98.88 and a two-hundred day moving average of $100.26. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream, Inc. has a 12-month low of $66.98 and a 12-month high of $114.50.
DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.01). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The business had revenue of $288.81 million during the quarter, compared to the consensus estimate of $285.48 million. During the same quarter in the prior year, the business posted $0.99 earnings per share. As a group, sell-side analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.
DT Midstream Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream's payout ratio is 89.37%.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. Stifel Nicolaus decreased their price target on DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. UBS Group raised their target price on shares of DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Bank of America began coverage on shares of DT Midstream in a research report on Monday, March 24th. They set a "buy" rating and a $110.00 price target on the stock. Wells Fargo & Company cut their price target on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, Barclays boosted their price objective on shares of DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $109.27.
Read Our Latest Stock Report on DT Midstream
About DT Midstream
(
Free Report)
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.
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