Westwood Holdings Group Inc. Buys 564,899 Shares of DT Midstream, Inc. (NYSE:DTM)

Westwood Holdings Group Inc. boosted its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 108.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,084,018 shares of the company's stock after purchasing an additional 564,899 shares during the quarter. DT Midstream comprises 0.8% of Westwood Holdings Group Inc.'s holdings, making the stock its 26th largest holding. Westwood Holdings Group Inc. owned 1.12% of DT Midstream worth $107,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in DTM. Truist Financial Corp purchased a new position in DT Midstream during the fourth quarter valued at approximately $771,000. Thrivent Financial for Lutherans grew its holdings in DT Midstream by 55.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the company's stock valued at $3,536,000 after purchasing an additional 12,755 shares during the period. UMB Bank n.a. grew its holdings in DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company's stock valued at $48,000 after purchasing an additional 167 shares during the period. Atria Investments Inc grew its holdings in DT Midstream by 82.0% in the fourth quarter. Atria Investments Inc now owns 15,412 shares of the company's stock valued at $1,532,000 after purchasing an additional 6,946 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in DT Midstream in the fourth quarter valued at approximately $645,000. Institutional investors own 81.53% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on DTM shares. Wells Fargo & Company dropped their price objective on DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Stifel Nicolaus dropped their price objective on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Barclays lowered their price target on DT Midstream from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Morgan Stanley boosted their price objective on DT Midstream from $92.00 to $105.00 and gave the stock an "underweight" rating in a research note on Tuesday, March 25th. Finally, Raymond James boosted their price objective on DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Two 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $108.27.

DT Midstream Price Performance

DTM stock opened at $104.04 on Monday. DT Midstream, Inc. has a 12-month low of $65.43 and a 12-month high of $114.50. The company has a market capitalization of $10.57 billion, a PE ratio of 25.31 and a beta of 0.77. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The business's fifty day moving average price is $96.96 and its 200 day moving average price is $99.56.

DT Midstream (NYSE:DTM - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The company had revenue of $288.81 million for the quarter, compared to analyst estimates of $285.48 million. During the same period in the previous year, the firm earned $0.99 earnings per share. On average, sell-side analysts anticipate 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 Tuesday, July 15th. Investors of record on Monday, June 16th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 annualized dividend and a yield of 3.15%. DT Midstream's payout ratio is 89.37%.

Insider Buying and Selling

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $86.92 per share, with a total value of $86,920.00. Following the transaction, the director now owns 38,653 shares in the company, valued at $3,359,718.76. The trade was a 2.66% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 1,235 shares of company stock valued at $109,867 in the last three months. 0.34% of the stock is owned by corporate insiders.

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.

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