DT Midstream, Inc. (NYSE:DTM) Shares Bought by Swiss National Bank

Key Points

• The Swiss National Bank increased its stake in DT Midstream, Inc. by 2.2% in Q1, owning 195,200 shares worth approximately $18.83 million.
• DT Midstream reported a better-than-expected quarterly earnings with an EPS of $1.04, surpassing analysts' estimates of $0.98, and has announced a $0.82 quarterly dividend to be paid in October.
• Hedge funds control about 81.53% of DT Midstream's stock, with other institutional investors such as Vanguard and Blackstone also increasing their holdings significantly.

Swiss National Bank lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,200 shares of the company's stock after buying an additional 4,200 shares during the quarter. Swiss National Bank owned approximately 0.19% of DT Midstream worth $18,833,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in DTM. Blackstone Inc. raised 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 valued at $162,199,000 after purchasing an additional 1,574,705 shares during the last quarter. Zimmer Partners LP acquired a new position in DT Midstream in the 4th quarter valued at $74,572,000. Vanguard Group Inc. raised its stake in DT Midstream by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company's stock valued at $1,078,161,000 after purchasing an additional 621,183 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in DT Midstream by 108.8% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock valued at $107,784,000 after purchasing an additional 564,899 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in DT Midstream by 9,693.3% in the 1st quarter. GAMMA Investing LLC now owns 390,262 shares of the company's stock valued at $37,652,000 after purchasing an additional 386,277 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Melissa Cox sold 4,755 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $104.47, for a total transaction of $496,754.85. Following the transaction, the vice president owned 5,171 shares of the company's stock, valued at $540,214.37. This represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.34% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on DTM shares. Wells Fargo & Company raised their target price on DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Barclays raised 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. Morgan Stanley raised their target price on DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. US Capital Advisors downgraded DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Stifel Nicolaus raised their price objective on DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $110.91.

DT Midstream Stock Down 0.4%

DTM stock traded down $0.42 during trading on Friday, hitting $103.33. 495,450 shares of the company's stock were exchanged, compared to its average volume of 760,966. The business has a 50-day moving average price of $104.22 and a two-hundred day moving average price of $100.45. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 1.87 and a beta of 0.77. DT Midstream, Inc. has a 52-week low of $73.52 and a 52-week high of $114.50. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.06. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%. The firm had revenue of $299.00 million during the quarter, compared to analysts' expectations of $295.70 million. During the same quarter in the previous year, the business earned $0.98 earnings per share. As a group, equities research analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.2%. DT Midstream's payout ratio is presently 87.94%.

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.