DT Midstream, Inc. (NYSE:DTM) Stake Raised by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 264,607 shares of the company's stock after purchasing an additional 20,510 shares during the quarter. Principal Financial Group Inc. owned about 0.26% of DT Midstream worth $25,529,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blackstone Inc. increased its stake in DT Midstream by 2,783.1% during the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock worth $162,199,000 after acquiring an additional 1,574,705 shares during the last quarter. Norges Bank acquired a new stake in shares of DT Midstream in the fourth quarter valued at $119,520,000. Zimmer Partners LP acquired a new stake in shares of DT Midstream in the fourth quarter valued at $74,572,000. Westwood Holdings Group Inc. grew its stake in DT Midstream by 108.8% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock worth $107,784,000 after purchasing an additional 564,899 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in DT Midstream by 733.3% during the 4th quarter. Bank of Montreal Can now owns 458,789 shares of the company's stock worth $45,617,000 after purchasing an additional 403,730 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Trading Down 0.6%

Shares of DTM traded down $0.60 during trading hours on Wednesday, hitting $102.20. The stock had a trading volume of 852,289 shares, compared to its average volume of 908,390. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $10.38 billion, a P/E ratio of 27.85, a P/E/G ratio of 1.67 and a beta of 0.78. The company's fifty day simple moving average is $104.50 and its 200 day simple moving average is $100.88. DT Midstream, Inc. has a 12-month low of $68.88 and a 12-month high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last issued its earnings results 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 firm had revenue of $288.81 million during the quarter, compared to analysts' expectations of $285.48 million. During the same period last year, the business posted $0.99 earnings per share. Equities research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream's payout ratio is 89.37%.

Wall Street Analyst Weigh In

DTM has been the subject of several analyst reports. Morgan Stanley set a $115.00 price objective on DT Midstream and gave the stock an "underweight" rating in a research report on Tuesday, June 3rd. Williams Trading set a $110.00 target price on DT Midstream in a report on Monday, March 24th. Bank of America began coverage on DT Midstream in a research note on Monday, March 24th. They set a "buy" rating and a $110.00 price objective for the company. US Capital Advisors downgraded DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Barclays increased their target price on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Two 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. Based on data from MarketBeat.com, DT Midstream presently has a consensus rating of "Hold" and an average target price of $109.27.

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.