19,187 Shares in DT Midstream, Inc. (NYSE:DTM) Acquired by Vestcor Inc

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

Other institutional investors also recently bought and sold shares of the company. Thornburg Investment Management Inc. purchased a new stake in DT Midstream during the first quarter valued at approximately $8,310,000. XTX Topco Ltd raised its position in shares of DT Midstream by 405.2% in the 1st quarter. XTX Topco Ltd now owns 46,797 shares of the company's stock valued at $4,515,000 after purchasing an additional 37,534 shares during the last quarter. FSA Advisors Inc. increased its holdings in shares of DT Midstream by 148.3% in the first quarter. FSA Advisors Inc. now owns 5,736 shares of the company's stock valued at $553,000 after purchasing an additional 3,426 shares during the period. Premier Fund Managers Ltd grew its position in shares of DT Midstream by 7.1% during the 1st quarter. Premier Fund Managers Ltd now owns 30,000 shares of the company's stock valued at $2,903,000 after acquiring an additional 2,000 shares during the period. Finally, Norden Group LLC acquired a new stake in DT Midstream in the 1st quarter valued at $303,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Price Performance

NYSE:DTM traded down $3.29 during trading hours on Tuesday, hitting $102.51. 571,497 shares of the company's stock traded hands, compared to its average volume of 1,022,363. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. The firm has a market cap of $10.41 billion, a P/E ratio of 27.48, a P/E/G ratio of 1.91 and a beta of 0.77. The business's fifty day simple moving average is $104.64 and its two-hundred day simple moving average is $100.62. DT Midstream, Inc. has a 52 week low of $70.91 and a 52 week high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $295.70 million. During the same period last year, the company earned $0.98 EPS. On average, research analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on DTM. Barclays raised their price target on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Wells Fargo & Company raised their price target on shares of DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday. US Capital Advisors lowered DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Stifel Nicolaus lifted 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. Finally, Morgan Stanley set a $115.00 target price on shares of DT Midstream and gave the stock an "underweight" rating in a research report on Tuesday, June 3rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $110.64.

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.