DT Midstream, Inc. (NYSE:DTM) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 264,607 shares of the company's stock after purchasing an additional 20,510 shares during the period. Principal Financial Group Inc. owned approximately 0.26% of DT Midstream worth $25,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in DT Midstream by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock valued at $1,049,363,000 after acquiring an additional 359,017 shares during the last quarter. Deutsche Bank AG lifted its holdings in DT Midstream by 5.5% during the 4th quarter. Deutsche Bank AG now owns 2,831,830 shares of the company's stock valued at $281,569,000 after buying an additional 147,790 shares in the last quarter. Geode Capital Management LLC boosted its position in DT Midstream by 18.7% in the 4th quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock valued at $243,948,000 after buying an additional 386,670 shares during the period. Blackstone Inc. grew its stake in DT Midstream by 2,783.1% in the 4th 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 in the last quarter. Finally, Invesco Ltd. increased its position in shares of DT Midstream by 24.7% during the fourth quarter. Invesco Ltd. now owns 1,487,901 shares of the company's stock worth $147,942,000 after acquiring an additional 294,583 shares during the period. Hedge funds and other institutional investors own 81.53% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DTM. US Capital Advisors cut DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. UBS Group increased 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. Williams Trading set a $110.00 price objective on DT Midstream in a report on Monday, March 24th. Morgan Stanley set a $115.00 target price on shares of DT Midstream and gave the stock an "underweight" rating in a report on Tuesday, June 3rd. Finally, Bank of America began coverage on shares of DT Midstream in a research report on Monday, March 24th. They set a "buy" rating and a $110.00 target price on the stock. Two 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $109.27.

DT Midstream Stock Performance

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

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). The firm had revenue of $288.81 million for the quarter, compared to analyst estimates of $285.48 million. DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. During the same quarter in the prior year, the business posted $0.99 EPS. Research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current 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. The ex-dividend date is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.18%. DT Midstream's dividend payout ratio (DPR) is 89.37%.

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.