True Link Financial Advisors LLC acquired a new stake in DT Midstream, Inc. (NYSE:DTM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,471 shares of the company's stock, valued at approximately $238,000.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake 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 purchasing an additional 359,017 shares during the last quarter. Deutsche Bank AG lifted its stake in DT Midstream by 5.5% in the 4th quarter. Deutsche Bank AG now owns 2,831,830 shares of the company's stock valued at $281,569,000 after purchasing an additional 147,790 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 purchasing an additional 386,670 shares during the last quarter. Blackstone Inc. lifted 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. Finally, Invesco Ltd. lifted its stake in DT Midstream by 24.7% in the 4th quarter. Invesco Ltd. now owns 1,487,901 shares of the company's stock valued at $147,942,000 after purchasing an additional 294,583 shares during the last quarter. Institutional investors own 81.53% of the company's stock.
DT Midstream Stock Performance
DTM stock traded up $0.09 during mid-day trading on Monday, hitting $106.39. 750,521 shares of the company were exchanged, compared to its average volume of 892,834. The business has a 50 day simple moving average of $102.33 and a 200-day simple moving average of $100.32. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $10.81 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 1.70 and a beta of 0.78. DT Midstream, Inc. has a 1-year low of $68.88 and a 1-year high of $114.50.
DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.01). DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. The business had revenue of $288.81 million during the quarter, compared to analyst estimates of $285.48 million. During the same quarter in the previous year, the firm posted $0.99 earnings per share. On average, equities 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 declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.08%. DT Midstream's payout ratio is 89.37%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on DTM. Wells Fargo & Company cut their target price on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Williams Trading set a $110.00 target price on shares of DT Midstream in a research note on Monday, March 24th. Morgan Stanley set a $115.00 price objective on shares of DT Midstream and gave the stock an "underweight" rating in a research report on Tuesday, June 3rd. Stifel Nicolaus cut their price objective on shares of DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, UBS Group raised their price objective on shares of DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $109.27.
View Our Latest Stock Analysis on DT Midstream
DT Midstream Company Profile
(
Free Report)
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.
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