Edgestream Partners L.P. Has $12.88 Million Stake in DT Midstream, Inc. (NYSE:DTM)

Edgestream Partners L.P. grew its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 490.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 133,529 shares of the company's stock after buying an additional 110,903 shares during the period. DT Midstream accounts for approximately 0.4% of Edgestream Partners L.P.'s investment portfolio, making the stock its 15th largest holding. Edgestream Partners L.P. owned approximately 0.13% of DT Midstream worth $12,883,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DTM. Jones Financial Companies Lllp increased its stake in shares of DT Midstream by 15.0% in the 4th quarter. Jones Financial Companies Lllp now owns 768 shares of the company's stock valued at $76,000 after buying an additional 100 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of DT Midstream in the 4th quarter valued at $8,569,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of DT Midstream by 11.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,113 shares of the company's stock valued at $2,398,000 after buying an additional 2,481 shares during the period. Independent Advisor Alliance increased its stake in shares of DT Midstream by 9.7% in the 4th quarter. Independent Advisor Alliance now owns 4,596 shares of the company's stock valued at $457,000 after buying an additional 405 shares during the period. Finally, HighTower Advisors LLC grew its stake in shares of DT Midstream by 4.6% during the fourth quarter. HighTower Advisors LLC now owns 37,244 shares of the company's stock worth $3,703,000 after purchasing an additional 1,632 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Stock Down 0.7%

Shares of DT Midstream stock traded down $0.72 during trading on Thursday, reaching $102.53. The stock had a trading volume of 689,965 shares, compared to its average volume of 915,240. DT Midstream, Inc. has a 52 week low of $69.82 and a 52 week high of $114.50. The company has a market capitalization of $10.42 billion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 1.67 and a beta of 0.78. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock has a fifty day moving average price of $104.95 and a two-hundred day moving average price of $100.98.

DT Midstream (NYSE:DTM - Get Free Report) last released its earnings results 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 company 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 8.46% and a net margin of 34.96%. During the same quarter in the previous year, the company posted $0.99 EPS. Sell-side analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th were given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.20%. The ex-dividend date was Monday, June 16th. DT Midstream's payout ratio is 89.37%.

Analyst Ratings Changes

DTM has been the subject of a number of analyst reports. Morgan Stanley set a $115.00 price objective on DT Midstream and gave the stock an "underweight" rating in a research note on Tuesday, June 3rd. Williams Trading set a $110.00 price objective on DT Midstream in a research note on Monday, March 24th. US Capital Advisors cut DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Barclays lifted their target price on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Finally, Bank of America initiated coverage on DT Midstream in a report on Monday, March 24th. They set a "buy" rating and a $110.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, DT Midstream currently has a consensus rating of "Hold" and an average 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.