Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in DT Midstream, Inc. (NYSE:DTM)

Key Points

• Zurcher Kantonalbank increased its stake in DT Midstream, Inc. by 10.5% in Q1, owning 26,647 shares valued at $2,571,000.
• DT Midstream recently reported an EPS of $1.04 for its latest quarter, beating analysts' expectations of $0.98, with revenue reaching $299 million.
• The company will pay a quarterly dividend of $0.82 on October 15, representing an annualized yield of 3.1%.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 10.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 26,647 shares of the company's stock after acquiring an additional 2,534 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in DT Midstream were worth $2,571,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC boosted 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 worth $405,000 after buying an additional 669 shares during the period. OneDigital Investment Advisors LLC purchased a new position in shares of DT Midstream during the first quarter worth $274,000. Bessemer Group Inc. boosted 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 worth $43,000 after buying an additional 135 shares during the period. True Link Financial Advisors LLC purchased a new position in shares of DT Midstream during the first quarter worth $238,000. Finally, Catalyst Capital Advisors LLC boosted 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 worth $13,896,000 after buying an additional 13,243 shares during the period. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DTM has been the subject of several research analyst reports. 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 research report on Friday. Stifel Nicolaus raised their price target on DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday. Morgan Stanley set a $115.00 price target on DT Midstream and gave the stock an "underweight" rating in a research report on Tuesday, June 3rd. US Capital Advisors lowered DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Finally, Barclays boosted their target price on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Two equities research 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. According to data from MarketBeat, DT Midstream has an average rating of "Hold" and an average target price of $110.64.

DT Midstream Stock Up 0.2%

NYSE:DTM traded up $0.22 during trading hours on Monday, hitting $105.83. The company's stock had a trading volume of 698,063 shares, compared to its average volume of 806,558. DT Midstream, Inc. has a 52-week low of $69.82 and a 52-week high of $114.50. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $10.75 billion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. The stock has a fifty day moving average of $104.61 and a 200-day moving average of $100.66.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $1.04 EPS for the quarter, beating 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 business had revenue of $299.00 million for the quarter, compared to the consensus estimate of $295.70 million. During the same quarter in the prior year, the business posted $0.98 EPS. On average, equities analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

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 issued a $0.82 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.1%. DT Midstream's dividend payout ratio is presently 87.94%.

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.