Eagle Global Advisors LLC Grows Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Key Points

• Eagle Global Advisors LLC increased its stake in DT Midstream, Inc. by 11.5% in the first quarter, holding 485,465 shares valued at approximately $46.8 million.
• DT Midstream recently announced a quarterly dividend of $0.82 per share, representing an annualized yield of 3.1% and a payout ratio of 87.94%.
• Brokerages have mixed ratings on DT Midstream, with an average rating of "Hold" and a consensus price target of $110.91, indicating a cautious outlook on the stock's performance.

Eagle Global Advisors LLC grew its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 11.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 485,465 shares of the company's stock after purchasing an additional 50,100 shares during the quarter. DT Midstream makes up 1.9% of Eagle Global Advisors LLC's investment portfolio, making the stock its 12th largest position. Eagle Global Advisors LLC owned approximately 0.48% of DT Midstream worth $46,838,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DTM. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of DT Midstream in the 1st quarter valued at $25,000. Alpine Bank Wealth Management acquired a new stake in DT Midstream during the 1st quarter worth $26,000. Bessemer Group Inc. raised its stake in 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 acquiring an additional 117 shares in the last quarter. Versant Capital Management Inc raised its stake in DT Midstream by 130.2% during the 1st quarter. Versant Capital Management Inc now owns 488 shares of the company's stock worth $47,000 after acquiring an additional 276 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in DT Midstream by 50.3% during the 1st quarter. UMB Bank n.a. now owns 723 shares of the company's stock worth $70,000 after acquiring an additional 242 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

DT Midstream Stock Performance

DT Midstream stock traded up $0.34 during midday trading on Wednesday, hitting $103.71. 530,054 shares of the company's stock were exchanged, compared to its average volume of 775,977. The stock has a market cap of $10.54 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.88 and a beta of 0.77. The firm's 50 day simple moving average is $104.41 and its 200 day simple moving average is $100.38. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88. DT Midstream, Inc. has a 12-month low of $72.69 and a 12-month high of $114.50.

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

DT Midstream Announces Dividend

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

Insider Buying and Selling at DT Midstream

In other news, VP Melissa Cox sold 4,755 shares of DT Midstream 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 owned 5,171 shares of the company's stock, valued at $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 is accessible through this hyperlink. 0.34% of the stock is currently owned by insiders.

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.