45,930 Shares in DT Midstream, Inc. (NYSE:DTM) Acquired by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd purchased a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 45,930 shares of the company's stock, valued at approximately $4,431,000. DT Midstream makes up 2.9% of Ausbil Investment Management Ltd's investment portfolio, making the stock its 17th biggest position.

Several other large investors have also recently made changes to their positions in DTM. Vanguard Group Inc. boosted its stake in DT Midstream by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock worth $1,049,363,000 after buying an additional 359,017 shares during the last quarter. Deutsche Bank AG boosted its stake in DT Midstream by 5.5% during the fourth quarter. Deutsche Bank AG now owns 2,831,830 shares of the company's stock worth $281,569,000 after buying an additional 147,790 shares during the last quarter. Geode Capital Management LLC boosted its stake in DT Midstream by 18.7% during the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock worth $243,948,000 after buying an additional 386,670 shares during the last quarter. Blackstone Inc. boosted its stake in DT Midstream by 2,783.1% during the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock worth $162,199,000 after buying an additional 1,574,705 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in DT Midstream by 24.7% during the fourth quarter. Invesco Ltd. now owns 1,487,901 shares of the company's stock worth $147,942,000 after buying an additional 294,583 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Price Performance

DTM opened at $106.35 on Monday. The stock's 50-day moving average price is $102.09 and its 200 day moving average price is $100.29. DT Midstream, Inc. has a 12-month low of $68.88 and a 12-month high of $114.50. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm has a market cap of $10.80 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 1.70 and a beta of 0.78.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.01). DT Midstream had a return on equity of 8.46% and a net margin of 34.96%. The firm had revenue of $288.81 million for the quarter, compared to analyst estimates of $285.48 million. During the same period in the previous year, the company posted $0.99 EPS. As a group, sell-side analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 annualized dividend and a yield of 3.08%. DT Midstream's dividend payout ratio (DPR) is 89.37%.

Analysts Set New Price Targets

DTM has been the topic of a number of recent research reports. UBS Group boosted their price objective on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Morgan Stanley set a $115.00 price objective on DT Midstream and gave the stock an "underweight" rating in a research note on Tuesday, June 3rd. Williams Trading set a $110.00 price target on DT Midstream in a research note on Monday, March 24th. Bank of America started coverage on DT Midstream in a research note on Monday, March 24th. They issued a "buy" rating and a $110.00 price target on the stock. Finally, Stifel Nicolaus decreased their price target on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, DT Midstream has a consensus rating of "Hold" and an average price target of $109.27.

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.

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