Vestcor Inc Makes New Investment in DT Midstream, Inc. (NYSE:DTM)

Key Points

• Vestcor Inc has acquired a new position in DT Midstream, Inc., purchasing 19,187 shares valued at approximately $1,851,000 during the first quarter.
• DT Midstream recently reported earnings of $1.04 per share, exceeding analysts' expectations of $0.98, and had a revenue of $299 million for the quarter.
• Analyst ratings for DT Midstream vary, with two analysts recommending a "sell," while six have issued a "buy," resulting in an average rating of "Hold" and a consensus target price of $109.27.

Vestcor Inc acquired a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 19,187 shares of the company's stock, valued at approximately $1,851,000.

A number of other institutional investors have also recently added to or reduced their stakes in DTM. Mowery & Schoenfeld Wealth Management LLC acquired a new position in DT Midstream in the 1st quarter worth $25,000. Alpine Bank Wealth Management acquired a new stake in shares of DT Midstream in the 1st quarter valued at about $26,000. Bessemer Group Inc. raised its stake in shares of DT Midstream by 61.6% in the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company's stock valued at $30,000 after purchasing an additional 117 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of DT Midstream by 130.2% in the 1st quarter. Versant Capital Management Inc now owns 488 shares of the company's stock valued at $47,000 after purchasing an additional 276 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of DT Midstream by 50.3% in the 1st quarter. UMB Bank n.a. now owns 723 shares of the company's stock valued at $70,000 after purchasing an additional 242 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $102.87 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a fifty-two week low of $69.82 and a fifty-two week high of $114.50. The firm has a 50-day simple moving average of $104.58 and a 200 day simple moving average of $100.82. The company has a market cap of $10.45 billion, a PE ratio of 28.03, a P/E/G ratio of 1.83 and a beta of 0.78.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.06. DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. The business had revenue of $299.00 million during the quarter, compared to the consensus estimate of $295.70 million. During the same quarter in the prior year, the firm earned $0.98 EPS. On average, sell-side analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current year.

Wall Street Analysts Forecast Growth

DTM has been the topic of a number of recent analyst reports. US Capital Advisors lowered shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Barclays upped their target price on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Finally, Morgan Stanley set a $115.00 target price on shares of DT Midstream and gave the company an "underweight" rating in a research note on Tuesday, June 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $109.27.

DT Midstream Company 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.

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