DT Midstream, Inc. (NYSE:DTM) Position Boosted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 26.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,830 shares of the company's stock after purchasing an additional 2,510 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in DT Midstream were worth $1,176,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in DTM. Vanguard Group Inc. grew its position in DT Midstream by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock valued at $1,049,363,000 after purchasing an additional 359,017 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of DT Midstream by 5.5% during the 4th quarter. Deutsche Bank AG now owns 2,831,830 shares of the company's stock valued at $281,569,000 after buying an additional 147,790 shares during the period. Geode Capital Management LLC grew its holdings in shares of DT Midstream by 18.7% during the 4th quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock valued at $243,948,000 after acquiring an additional 386,670 shares in the last quarter. Blackstone Inc. increased its stake in shares of DT Midstream by 2,783.1% in the fourth 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. Finally, Invesco Ltd. raised its holdings in shares of 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 acquiring an additional 294,583 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Stock Up 0.1%

Shares of DT Midstream stock opened at $108.23 on Monday. DT Midstream, Inc. has a 12-month low of $66.98 and a 12-month high of $114.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average price of $99.31 and a two-hundred day moving average price of $100.26. The stock has a market capitalization of $10.99 billion, a P/E ratio of 26.33 and a beta of 0.78.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same period in the prior year, the company posted $0.99 earnings per share. Equities analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be paid a $0.82 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.03%. DT Midstream's payout ratio is presently 89.37%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DTM shares. Barclays boosted their target price 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. UBS Group lifted their price target on DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Williams Trading set a $110.00 price objective on DT Midstream in a report on Monday, March 24th. Stifel Nicolaus cut their price objective on shares of DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, Morgan Stanley set a $115.00 target price on shares of DT Midstream and gave the stock an "underweight" rating in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, DT Midstream currently has a consensus rating of "Hold" and a consensus price target of $109.27.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.