Vanguard Group Inc. Boosts Holdings in DT Midstream, Inc. (NYSE:DTM)

Vanguard Group Inc. grew its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,174,965 shares of the company's stock after buying an additional 621,183 shares during the period. Vanguard Group Inc. owned 11.00% of DT Midstream worth $1,078,161,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Blackstone Inc. raised its position in DT Midstream by 2,783.1% during the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock worth $162,199,000 after buying an additional 1,574,705 shares during the last quarter. Zimmer Partners LP purchased a new position in DT Midstream during the 4th quarter worth $74,572,000. Westwood Holdings Group Inc. raised its position in DT Midstream by 108.8% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock worth $107,784,000 after buying an additional 564,899 shares during the last quarter. GAMMA Investing LLC raised its position in DT Midstream by 9,693.3% during the 1st quarter. GAMMA Investing LLC now owns 390,262 shares of the company's stock worth $37,652,000 after buying an additional 386,277 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in DT Midstream by 287.9% during the 4th quarter. Point72 Asset Management L.P. now owns 410,332 shares of the company's stock worth $40,799,000 after buying an additional 304,555 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

Insider Buying and Selling

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

DT Midstream Trading Up 0.3%

Shares of DTM traded up $0.34 during mid-day trading on Wednesday, hitting $103.71. The company had a trading volume of 530,054 shares, compared to its average volume of 1,013,118. The business's 50-day simple moving average is $104.47 and its 200-day simple moving average is $100.36. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a 1-year low of $72.69 and a 1-year high of $114.50. The stock has a market cap of $10.54 billion, a PE ratio of 27.80, a P/E/G ratio of 1.90 and a beta of 0.77.

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

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a $0.82 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.28 annualized dividend and a yield of 3.2%. DT Midstream's dividend payout ratio (DPR) is presently 87.94%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DTM. Morgan Stanley increased their price target on shares of DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Stifel Nicolaus increased their price target on shares of DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a report on Friday, August 1st. US Capital Advisors downgraded shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Barclays increased their price target on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Finally, Wells Fargo & Company raised their target price on shares of DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $110.91.

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.