International Assets Investment Management LLC acquired a new stake in DT Midstream, Inc. (NYSE:DTM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,865 shares of the company's stock, valued at approximately $815,000.
Other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in DT Midstream by 192.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 947 shares of the company's stock valued at $50,000 after purchasing an additional 623 shares during the period. Blue Trust Inc. grew its stake in shares of DT Midstream by 28.3% during the 4th quarter. Blue Trust Inc. now owns 992 shares of the company's stock worth $53,000 after acquiring an additional 219 shares during the period. Larson Financial Group LLC grew its stake in shares of DT Midstream by 32.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,720 shares of the company's stock worth $91,000 after acquiring an additional 425 shares during the period. Whittier Trust Co. grew its stake in shares of DT Midstream by 175.0% during the 4th quarter. Whittier Trust Co. now owns 1,672 shares of the company's stock worth $92,000 after acquiring an additional 1,064 shares during the period. Finally, TIAA Trust National Association bought a new position in shares of DT Midstream during the 3rd quarter worth $203,000. Institutional investors own 81.53% of the company's stock.
Analyst Upgrades and Downgrades
DTM has been the subject of several research reports. Barclays increased their price target on DT Midstream from $59.00 to $66.00 and gave the stock an "overweight" rating in a research note on Friday, April 5th. Mizuho reiterated a "neutral" rating and set a $57.00 price target (down previously from $58.00) on shares of DT Midstream in a research note on Friday, January 5th. Finally, Wolfe Research upgraded DT Midstream from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $58.50.
Read Our Latest Stock Report on DT Midstream
DT Midstream Price Performance
DTM traded up $1.12 during trading on Wednesday, reaching $64.20. 748,911 shares of the company were exchanged, compared to its average volume of 678,639. The company's 50-day moving average is $59.62 and its two-hundred day moving average is $56.43. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 16.25 and a beta of 0.73. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.72. DT Midstream, Inc. has a 12-month low of $45.10 and a 12-month high of $64.21.
DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data on Friday, February 16th. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.32. The business had revenue of $244.00 million for the quarter, compared to analysts' expectations of $235.19 million. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. During the same quarter in the prior year, the firm posted $0.93 EPS. Research analysts forecast that DT Midstream, Inc. will post 3.86 earnings per share for the current fiscal year.
DT Midstream Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were issued a $0.735 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $2.94 annualized dividend and a dividend yield of 4.58%. This is a boost from DT Midstream's previous quarterly dividend of $0.69. DT Midstream's dividend payout ratio (DPR) is presently 74.43%.
Insider Buying and Selling at DT Midstream
In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $56.87 per share, with a total value of $56,870.00. Following the acquisition, the director now directly owns 37,289 shares in the company, valued at approximately $2,120,625.43. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.21% of the company's stock.
About DT Midstream
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Free Report)
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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