DT Midstream, Inc. (NYSE:DTM) Shares Purchased by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its holdings in DT Midstream by 65.9%, owning 14,984 shares worth approximately $1.446 million.
• DT Midstream reported earnings per share (EPS) of $1.04 for the most recent quarter, beating the consensus estimate of $0.98.
• A quarterly dividend of $0.82 has been declared, representing an annualized dividend of $3.28 and a yield of 3.2%.

Townsquare Capital LLC boosted its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 65.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,984 shares of the company's stock after purchasing an additional 5,950 shares during the quarter. Townsquare Capital LLC's holdings in DT Midstream were worth $1,446,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of DT Midstream by 5.9% during the first quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company's stock valued at $1,078,161,000 after acquiring an additional 621,183 shares during the period. Deutsche Bank AG boosted its holdings in shares of DT Midstream by 5.5% during the fourth quarter. Deutsche Bank AG now owns 2,831,830 shares of the company's stock valued at $281,569,000 after acquiring an additional 147,790 shares during the period. Blackstone Inc. boosted its holdings in shares of DT Midstream by 2,783.1% during the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock valued at $162,199,000 after acquiring an additional 1,574,705 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of DT Midstream by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,148,324 shares of the company's stock valued at $110,790,000 after acquiring an additional 5,218 shares during the period. Finally, Westwood Holdings Group Inc. boosted its holdings in shares of DT Midstream by 108.8% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock valued at $107,784,000 after acquiring an additional 564,899 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Price Performance

Shares of DT Midstream stock opened at $103.71 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69. The company's 50-day moving average price is $104.41 and its two-hundred day moving average price is $100.38. DT Midstream, Inc. has a 52 week low of $72.69 and a 52 week high of $114.50. The stock has a market cap of $10.54 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 1.88 and a beta of 0.77.

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

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a $0.82 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.28 annualized dividend and a yield of 3.2%. DT Midstream's payout ratio is 87.94%.

Analyst Ratings Changes

Several brokerages have recently issued reports on DTM. Wells Fargo & Company boosted their price target on shares of DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Stifel Nicolaus boosted their price target on shares of DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a report on Friday, August 1st. US Capital Advisors downgraded shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Morgan Stanley upped their price objective on shares of DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Finally, Barclays upped their price objective on shares of DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Two equities research 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $110.91.

Insider Buying and Selling

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $104.47, for a total value of $496,754.85. Following the sale, the vice president directly owned 5,171 shares in the company, valued at approximately $540,214.37. The trade was a 47.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.34% of the company's stock.

DT Midstream 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.

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