DT Midstream, Inc. $DTM Stock Holdings Boosted by National Bank of Canada FI

National Bank of Canada FI boosted its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 127.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,555 shares of the company's stock after acquiring an additional 38,395 shares during the period. National Bank of Canada FI owned about 0.07% of DT Midstream worth $6,613,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DTM. Mowery & Schoenfeld Wealth Management LLC acquired a new position in DT Midstream during the first quarter worth about $25,000. Alpine Bank Wealth Management purchased a new stake in shares of DT Midstream during the first quarter worth about $26,000. Bessemer Group Inc. grew its holdings in shares of DT Midstream by 61.6% during the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company's stock worth $30,000 after buying an additional 117 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of DT Midstream by 130.2% during the first quarter. Versant Capital Management Inc now owns 488 shares of the company's stock worth $47,000 after buying an additional 276 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of DT Midstream by 50.3% during the first quarter. UMB Bank n.a. now owns 723 shares of the company's stock worth $70,000 after buying an additional 242 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Stock Down 1.2%

DTM traded down $1.22 during trading on Monday, hitting $102.19. The company had a trading volume of 168,733 shares, compared to its average volume of 1,002,731. The company has a market cap of $10.38 billion, a PE ratio of 27.40, a P/E/G ratio of 1.87 and a beta of 0.77. The business has a 50-day moving average of $104.22 and a 200-day moving average of $100.44. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.88. DT Midstream, Inc. has a 1-year low of $73.52 and a 1-year high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, beating 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 prior year, the company posted $0.98 earnings per share. As a group, analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.82 per share. 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 presently 87.94%.

Insiders Place Their Bets

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $104.47, for a total transaction of $496,754.85. Following the completion of the sale, the vice president owned 5,171 shares in the company, valued at $540,214.37. The trade was a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DTM. US Capital Advisors downgraded shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Wells Fargo & Company lifted their price target on shares of DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Stifel Nicolaus boosted their target price 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. Morgan Stanley boosted their target price on shares of DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Finally, Barclays lifted their price target on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, DT Midstream currently has an average rating of "Hold" and an average price target of $110.91.

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.