DT Midstream, Inc. (NYSE:DTM) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers increased its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 2.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 290,646 shares of the company's stock after buying an additional 6,118 shares during the period. Rhumbline Advisers owned about 0.29% of DT Midstream worth $28,041,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of DTM. Janney Montgomery Scott LLC raised its stake in DT Midstream by 70.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 10,577 shares of the company's stock worth $1,052,000 after buying an additional 4,365 shares in the last quarter. Spire Wealth Management raised its stake in DT Midstream by 242.8% in the fourth quarter. Spire Wealth Management now owns 1,385 shares of the company's stock worth $138,000 after buying an additional 981 shares in the last quarter. Greenleaf Trust bought a new position in DT Midstream in the fourth quarter worth approximately $225,000. CENTRAL TRUST Co raised its stake in DT Midstream by 14.4% in the fourth quarter. CENTRAL TRUST Co now owns 1,621 shares of the company's stock worth $161,000 after buying an additional 204 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of DT Midstream by 6.0% during the fourth quarter. Jennison Associates LLC now owns 232,217 shares of the company's stock worth $23,089,000 after purchasing an additional 13,152 shares in the last quarter. Institutional investors own 81.53% of the company's stock.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, the director now owns 38,653 shares in the company, valued at $3,359,718.76. This trade represents a 2.66% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.34% of the stock is owned by corporate insiders.

DT Midstream Stock Performance

Shares of DTM traded up $0.07 during trading hours on Friday, reaching $108.23. 752,640 shares of the company traded hands, compared to its average volume of 882,481. The stock has a market capitalization of $10.99 billion, a P/E ratio of 26.33 and a beta of 0.78. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a 12-month low of $66.98 and a 12-month high of $114.50. The business has a fifty day moving average price of $99.31 and a 200-day moving average price of $100.34.

DT Midstream (NYSE:DTM - Get Free Report) last posted 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). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The business had revenue of $288.81 million during the quarter, compared to analysts' expectations of $285.48 million. During the same period in the previous year, the company posted $0.99 earnings per share. Equities analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream's payout ratio is 89.37%.

Wall Street Analysts Forecast Growth

DTM has been the topic of a number of recent analyst reports. Barclays upped 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. Bank of America initiated coverage on DT Midstream in a research report on Monday, March 24th. They set a "buy" rating and a $110.00 price target on the stock. Wells Fargo & Company reduced their price target on DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. UBS Group upped 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. Finally, US Capital Advisors downgraded DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. 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. According to data from MarketBeat, the company currently 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.