Edgestream Partners L.P. Purchases 110,903 Shares of DT Midstream, Inc. (NYSE:DTM)

Edgestream Partners L.P. raised its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 490.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,529 shares of the company's stock after acquiring an additional 110,903 shares during the period. DT Midstream comprises approximately 0.4% of Edgestream Partners L.P.'s holdings, making the stock its 15th largest holding. Edgestream Partners L.P. owned 0.13% of DT Midstream worth $12,883,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in DT Midstream by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock valued at $1,049,363,000 after acquiring an additional 359,017 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of DT Midstream by 5.5% in the 4th quarter. Deutsche Bank AG now owns 2,831,830 shares of the company's stock worth $281,569,000 after buying an additional 147,790 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of DT Midstream by 18.7% in the 4th quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock worth $243,948,000 after buying an additional 386,670 shares in the last quarter. Blackstone Inc. raised its holdings in shares of DT Midstream by 2,783.1% in the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock worth $162,199,000 after buying an additional 1,574,705 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of DT Midstream by 24.7% in the 4th quarter. Invesco Ltd. now owns 1,487,901 shares of the company's stock worth $147,942,000 after buying an additional 294,583 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DTM shares. US Capital Advisors cut DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Morgan Stanley set a $115.00 target price on DT Midstream and gave the stock an "underweight" rating in a report on Tuesday, June 3rd. UBS Group increased their target price on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Williams Trading set a $110.00 target price on DT Midstream in a report on Monday, March 24th. Finally, Bank of America started coverage on DT Midstream in a report on Monday, March 24th. They issued a "buy" rating and a $110.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $109.27.

DT Midstream Price Performance

DTM stock traded down $1.67 during midday trading on Tuesday, reaching $103.45. 179,627 shares of the company's stock traded hands, compared to its average volume of 908,678. The company has a 50-day simple moving average of $104.82 and a two-hundred day simple moving average of $100.93. DT Midstream, Inc. has a 1-year low of $69.82 and a 1-year high of $114.50. The company has a market cap of $10.51 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 1.65 and a beta of 0.78. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.69.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.01). The business had revenue of $288.81 million for the quarter, compared to analyst estimates of $285.48 million. DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. During the same period in the prior year, the business earned $0.99 earnings per share. On average, analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be given a $0.82 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a yield of 3.17%. DT Midstream's payout ratio is 89.37%.

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.