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

Ausbil Investment Management Ltd bought a new stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 45,930 shares of the company's stock, valued at approximately $4,431,000. DT Midstream makes up about 2.9% of Ausbil Investment Management Ltd's holdings, making the stock its 17th biggest holding.

Several other hedge funds also recently bought and sold shares of the company. Bessemer Group Inc. grew its position in DT Midstream by 61.6% in the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company's stock worth $30,000 after acquiring an additional 117 shares in the last quarter. Versant Capital Management Inc increased its position in shares of DT Midstream by 130.2% during the 1st quarter. Versant Capital Management Inc now owns 488 shares of the company's stock valued at $47,000 after purchasing an additional 276 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of DT Midstream during the 4th quarter valued at about $50,000. Larson Financial Group LLC lifted its position in DT Midstream by 21.1% in the 4th quarter. Larson Financial Group LLC now owns 683 shares of the company's stock worth $68,000 after buying an additional 119 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in DT Midstream by 50.3% in the 1st quarter. UMB Bank n.a. now owns 723 shares of the company's stock worth $70,000 after buying an additional 242 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DTM shares. Williams Trading set a $110.00 price objective on shares of DT Midstream in a report on Monday, March 24th. UBS Group boosted their price target on shares of DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Stifel Nicolaus cut their price target on shares of DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Barclays raised their price objective on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Finally, US Capital Advisors lowered DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Two equities research 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.com, DT Midstream has a consensus rating of "Hold" and an average target price of $109.27.

DT Midstream Stock Performance

DTM traded up $3.19 during mid-day trading on Thursday, reaching $110.00. 1,394,334 shares of the company traded hands, compared to its average volume of 898,439. The stock has a market capitalization of $11.18 billion, a P/E ratio of 29.97, a P/E/G ratio of 1.70 and a beta of 0.78. DT Midstream, Inc. has a 52-week low of $68.88 and a 52-week high of $114.50. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.69. The company's fifty day moving average price is $103.06 and its 200-day moving average price is $100.49.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results 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). The firm had revenue of $288.81 million during the quarter, compared to the consensus estimate of $285.48 million. DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. During the same period in the prior year, the company posted $0.99 EPS. On average, sell-side analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

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 issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Monday, June 16th. DT Midstream's payout ratio is 89.37%.

DT Midstream Company 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.