Mason Investment Advisory Services Inc. Purchases Shares of 4,118 DT Midstream, Inc. (NYSE:DTM)

Mason Investment Advisory Services Inc. purchased a new stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,118 shares of the company's stock, valued at approximately $397,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its stake in DT Midstream by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock valued at $1,049,363,000 after purchasing an additional 359,017 shares in the last quarter. Deutsche Bank AG grew its stake in DT Midstream by 5.5% in the fourth quarter. Deutsche Bank AG now owns 2,831,830 shares of the company's stock valued at $281,569,000 after purchasing an additional 147,790 shares in the last quarter. Geode Capital Management LLC grew its stake in DT Midstream by 18.7% in the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock valued at $243,948,000 after purchasing an additional 386,670 shares in the last quarter. Blackstone Inc. grew its stake in DT Midstream by 2,783.1% in the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock valued at $162,199,000 after purchasing an additional 1,574,705 shares in the last quarter. Finally, Invesco Ltd. grew its stake in DT Midstream by 24.7% in the fourth quarter. Invesco Ltd. now owns 1,487,901 shares of the company's stock valued at $147,942,000 after purchasing an additional 294,583 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Stock Performance

Shares of NYSE DTM traded up $0.62 during trading hours on Friday, hitting $103.28. 574,236 shares of the company's stock were exchanged, compared to its average volume of 912,765. DT Midstream, Inc. has a 1-year low of $69.82 and a 1-year high of $114.50. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $10.49 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.65 and a beta of 0.78. The company's 50-day moving average price is $104.75 and its 200-day moving average price is $100.89.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 earnings per share 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 analyst estimates of $285.48 million. During the same period in the prior year, the firm posted $0.99 EPS. On average, sell-side analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 annualized dividend and a dividend yield of 3.18%. DT Midstream's dividend payout ratio is presently 89.37%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DTM shares. UBS Group boosted their price target on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Bank of America started coverage on DT Midstream in a research report on Monday, March 24th. They issued a "buy" rating and a $110.00 price target for the company. Williams Trading set a $110.00 price target on DT Midstream in a research report on Monday, March 24th. Barclays boosted their price target on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. Finally, Morgan Stanley set a $115.00 price target on 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price 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.