Clean Energy Transition LLP Makes New $16.97 Million Investment in DT Midstream, Inc. (NYSE:DTM)

Key Points

• Clean Energy Transition LLP has made a new investment of approximately $16.97 million in DT Midstream, acquiring 175,852 shares, making it the firm's 12th largest holding.
• DT Midstream recently reported earnings of $1.04 per share, exceeding analysts' expectations, with revenue reaching $299 million for the quarter.
• The company has declared a quarterly dividend of $0.82 per share, representing an annualized yield of 3.1%, with a payout ratio of 87.94%.

Clean Energy Transition LLP 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 Securities and Exchange Commission (SEC). The institutional investor bought 175,852 shares of the company's stock, valued at approximately $16,966,000. DT Midstream accounts for 2.1% of Clean Energy Transition LLP's holdings, making the stock its 12th biggest holding. Clean Energy Transition LLP owned 0.17% of DT Midstream as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new position in DT Midstream during the first quarter worth about $33,529,000. Townsquare Capital LLC grew its position in shares of DT Midstream by 65.9% in the first quarter. Townsquare Capital LLC now owns 14,984 shares of the company's stock valued at $1,446,000 after purchasing an additional 5,950 shares during the last quarter. National Bank of Canada FI grew its position in shares of DT Midstream by 127.3% in the first quarter. National Bank of Canada FI now owns 68,555 shares of the company's stock valued at $6,613,000 after purchasing an additional 38,395 shares during the last quarter. Swiss National Bank grew its position in shares of DT Midstream by 2.2% in the first quarter. Swiss National Bank now owns 195,200 shares of the company's stock valued at $18,833,000 after purchasing an additional 4,200 shares during the last quarter. Finally, Maryland State Retirement & Pension System grew its position in shares of DT Midstream by 5.6% in the first quarter. Maryland State Retirement & Pension System now owns 90,469 shares of the company's stock valued at $8,728,000 after purchasing an additional 4,774 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Stock Performance

NYSE:DTM opened at $104.56 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. The company has a market cap of $10.62 billion, a P/E ratio of 28.03, a P/E/G ratio of 1.91 and a beta of 0.77. DT Midstream, Inc. has a fifty-two week low of $71.97 and a fifty-two week high of $114.50. The firm's 50 day moving average is $104.59 and its two-hundred day moving average is $100.46.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.06. The company had revenue of $299.00 million for the quarter, compared to the consensus estimate of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same quarter last year, the firm posted $0.98 earnings per share. Analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 3.1%. DT Midstream's dividend payout ratio (DPR) is currently 87.94%.

Wall Street Analysts Forecast Growth

DTM has been the topic of several research reports. US Capital Advisors lowered shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Barclays increased their price target on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Stifel Nicolaus upped their price objective on shares of DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Morgan Stanley upped their price objective on shares of DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research note on Wednesday. Finally, Wells Fargo & Company upped their price objective on shares of DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $110.91.

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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