MQS Management LLC Takes Position in DT Midstream, Inc. (NYSE:DTM)

MQS Management LLC purchased a new stake in DT Midstream, Inc. (NYSE:DTM - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,248 shares of the company's stock, valued at approximately $313,000.

Other hedge funds also recently bought and sold shares of the company. Alpine Bank Wealth Management purchased a new stake in DT Midstream during the first quarter valued at about $26,000. Bessemer Group Inc. lifted its stake in DT Midstream by 61.6% during the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company's stock valued at $30,000 after buying an additional 117 shares in the last quarter. Versant Capital Management Inc lifted its stake in DT Midstream by 130.2% during the first quarter. Versant Capital Management Inc now owns 488 shares of the company's stock valued at $47,000 after buying an additional 276 shares in the last quarter. UMB Bank n.a. lifted its stake in DT Midstream by 50.3% during the first quarter. UMB Bank n.a. now owns 723 shares of the company's stock valued at $70,000 after buying an additional 242 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in DT Midstream by 15.0% during the fourth quarter. Jones Financial Companies Lllp now owns 768 shares of the company's stock valued at $76,000 after buying an additional 100 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Stock Performance

DT Midstream stock traded up $2.36 during trading hours on Friday, reaching $104.77. 307,471 shares of the company were exchanged, compared to its average volume of 1,043,343. The firm has a market cap of $10.64 billion, a price-to-earnings ratio of 28.54, a PEG 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 50-day moving average of $104.95 and a 200 day moving average of $100.98. DT Midstream, Inc. has a 12 month low of $69.82 and a 12 month high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 period in the previous year, the company earned $0.99 EPS. As a group, research analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th were given a dividend of $0.82 per share. The ex-dividend date was Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a yield of 3.13%. DT Midstream's payout ratio is currently 89.37%.

Wall Street Analysts Forecast Growth

DTM has been the topic of a number of research reports. US Capital Advisors downgraded DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Barclays upped their target price on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. UBS Group upped their target price on DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Williams Trading set a $110.00 price objective on DT Midstream in a report on Monday, March 24th. Finally, Morgan Stanley set a $115.00 price objective on DT Midstream and gave the stock an "underweight" rating in a report on Tuesday, June 3rd. 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 company's stock. Based on data from MarketBeat, DT Midstream presently has an average rating of "Hold" and a consensus price target of $109.27.

About DT Midstream

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.