DT Midstream, Inc. (NYSE:DTM) Shares Acquired by Alps Advisors Inc.

Alps Advisors Inc. increased its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 26.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 232,547 shares of the company's stock after purchasing an additional 49,302 shares during the period. Alps Advisors Inc. owned 0.23% of DT Midstream worth $22,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its position in shares of DT Midstream by 3.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 16,171 shares of the company's stock valued at $1,573,000 after purchasing an additional 600 shares during the period. Crossmark Global Holdings Inc. increased its holdings in DT Midstream by 4.4% in the 1st quarter. Crossmark Global Holdings Inc. now owns 9,556 shares of the company's stock valued at $922,000 after acquiring an additional 405 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in DT Midstream by 3.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 222,541 shares of the company's stock valued at $21,471,000 after acquiring an additional 6,715 shares during the last quarter. Catalyst Capital Advisors LLC increased its holdings in DT Midstream by 10.1% in the 1st quarter. Catalyst Capital Advisors LLC now owns 144,025 shares of the company's stock valued at $13,896,000 after acquiring an additional 13,243 shares during the last quarter. Finally, OneDigital Investment Advisors LLC bought a new stake in DT Midstream in the 1st quarter valued at $274,000. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Up 0.6%

Shares of NYSE:DTM traded up $0.58 during trading hours on Thursday, hitting $102.69. The company's stock had a trading volume of 1,343,464 shares, compared to its average volume of 911,034. DT Midstream, Inc. has a 52 week low of $69.82 and a 52 week high of $114.50. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $10.43 billion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.63 and a beta of 0.78. The firm's fifty day moving average price is $104.60 and its 200 day moving average price is $100.89.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. 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 firm posted $0.99 EPS. As a group, research analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be paid 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 dividend yield of 3.19%. DT Midstream's dividend payout ratio (DPR) is presently 89.37%.

Analysts Set New Price Targets

A number of analysts have issued reports on DTM shares. Bank of America started coverage on shares of DT Midstream in a report on Monday, March 24th. They issued a "buy" rating and a $110.00 price target on the stock. Barclays lifted 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. UBS Group lifted their price objective 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. Morgan Stanley set a $115.00 price objective on shares of DT Midstream and gave the stock an "underweight" rating in a research note on Tuesday, June 3rd. Finally, US Capital Advisors cut shares of 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 assigned a buy rating to the company. According to MarketBeat.com, DT Midstream currently has an average rating of "Hold" and a consensus target price 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.