US Bancorp DE Boosts Stake in DT Midstream, Inc. (NYSE:DTM)

US Bancorp DE raised its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 60.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,203 shares of the company's stock after purchasing an additional 2,701 shares during the quarter. US Bancorp DE's holdings in DT Midstream were worth $695,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CWM LLC increased its position in shares of DT Midstream by 18.9% during the first quarter. CWM LLC now owns 4,201 shares of the company's stock valued at $405,000 after acquiring an additional 669 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new stake in shares of DT Midstream during the first quarter valued at approximately $274,000. Bessemer Group Inc. increased its position in shares of DT Midstream by 44.0% during the first quarter. Bessemer Group Inc. now owns 442 shares of the company's stock valued at $43,000 after acquiring an additional 135 shares during the last quarter. True Link Financial Advisors LLC purchased a new stake in shares of DT Midstream during the first quarter valued at approximately $238,000. Finally, Catalyst Capital Advisors LLC increased its position in shares of DT Midstream by 10.1% during the first quarter. Catalyst Capital Advisors LLC now owns 144,025 shares of the company's stock valued at $13,896,000 after acquiring an additional 13,243 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 value of $496,754.85. Following the completion of the sale, the vice president directly owned 5,171 shares in the company, valued at $540,214.37. This represents a 47.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Stifel Nicolaus increased their price objective on DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a report on Friday, August 1st. Barclays raised their price target on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Morgan Stanley raised their price target on DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Wells Fargo & Company raised their price target on DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, US Capital Advisors lowered DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Two research 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $110.91.

DT Midstream Stock Down 0.8%

Shares of DTM traded down $0.88 during mid-day trading on Tuesday, reaching $103.42. The company had a trading volume of 660,764 shares, compared to its average volume of 781,938. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a 50-day moving average price of $104.47 and a 200 day moving average price of $100.36. DT Midstream, Inc. has a 52 week low of $71.97 and a 52 week high of $114.50. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 1.90 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.06. The firm had revenue of $299.00 million for the quarter, compared to analysts' expectations of $295.70 million. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%. During the same period in the previous year, the firm posted $0.98 EPS. On average, sell-side analysts forecast 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. Shareholders of record on Monday, September 15th will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 3.2%. DT Midstream's payout ratio is currently 87.94%.

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.