Envestnet Asset Management Inc. Has $21.47 Million Position in DT Midstream, Inc. (NYSE:DTM)

Envestnet Asset Management Inc. lifted its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 3.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 222,541 shares of the company's stock after buying an additional 6,715 shares during the period. Envestnet Asset Management Inc. owned about 0.22% of DT Midstream worth $21,471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Alpine Bank Wealth Management acquired a new position in DT Midstream during the first quarter worth $26,000. Bessemer Group Inc. increased its position in shares of DT Midstream by 61.6% during the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company's stock worth $30,000 after purchasing an additional 117 shares in the last quarter. Versant Capital Management Inc lifted its holdings in 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. UMB Bank n.a. boosted its position in DT Midstream by 50.3% in the first quarter. UMB Bank n.a. now owns 723 shares of the company's stock valued at $70,000 after buying an additional 242 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in DT Midstream by 23.8% during the first quarter. First Horizon Advisors Inc. now owns 1,439 shares of the company's stock worth $139,000 after buying an additional 277 shares during the last quarter. Institutional investors own 81.53% of the company's stock.

Analysts Set New Price Targets

DTM has been the topic of several research analyst reports. US Capital Advisors cut DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. 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 target price on the stock. UBS Group boosted their price objective on DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Barclays boosted their price target on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Finally, Morgan Stanley set a $115.00 price objective on shares of DT Midstream and gave the stock an "underweight" rating in a research report on Tuesday, June 3rd. Two 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, the company currently has a consensus rating of "Hold" and an average target price of $109.27.

DT Midstream Stock Performance

DT Midstream stock traded up $1.95 during midday trading on Friday, reaching $104.36. 716,450 shares of the company's stock were exchanged, compared to its average volume of 914,448. The stock's 50-day simple moving average is $104.95 and its 200 day simple moving average is $100.98. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 28.44, a P/E/G ratio of 1.67 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 0.82. DT Midstream, Inc. has a 52 week low of $69.82 and a 52 week high of $114.50.

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

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Monday, June 16th. DT Midstream's dividend payout ratio is presently 89.37%.

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.