Principal Financial Group Inc. Raises Stake in DT Midstream, Inc. (NYSE:DTM)

Principal Financial Group Inc. boosted its holdings in shares of DT Midstream, Inc. (NYSE:DTMGet Rating) by 15.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 394,639 shares of the company’s stock after acquiring an additional 53,224 shares during the period. Principal Financial Group Inc.’s holdings in DT Midstream were worth $19,345,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of DTM. Mitsubishi UFJ Trust & Banking Corp lifted its position in DT Midstream by 82.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,482,700 shares of the company’s stock valued at $188,971,000 after acquiring an additional 1,576,575 shares during the period. Russell Investments Group Ltd. purchased a new position in DT Midstream in the second quarter worth about $50,940,000. First Trust Advisors LP raised its holdings in DT Midstream by 129.8% in the first quarter. First Trust Advisors LP now owns 971,324 shares of the company’s stock worth $52,704,000 after buying an additional 548,645 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in DT Midstream by 153.6% in the second quarter. CIBC Private Wealth Group LLC now owns 780,478 shares of the company’s stock worth $38,259,000 after buying an additional 472,774 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in DT Midstream by 43.6% in the first quarter. Capital Research Global Investors now owns 1,540,502 shares of the company’s stock worth $83,588,000 after buying an additional 467,413 shares during the last quarter. 77.66% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Stock Down 2.2 %

DTM opened at $57.49 on Tuesday. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.74. The firm has a 50 day moving average price of $56.30 and a 200-day moving average price of $54.67. DT Midstream, Inc. has a twelve month low of $44.70 and a twelve month high of $61.12. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 15.39 and a beta of 0.88.

DT Midstream (NYSE:DTMGet Rating) last released its quarterly earnings data on Friday, October 28th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.04. DT Midstream had a net margin of 41.33% and a return on equity of 8.24%. The firm had revenue of $235.00 million during the quarter, compared to analysts’ expectations of $230.73 million. Equities research analysts forecast that DT Midstream, Inc. will post 3.45 earnings per share for the current year.

Analysts Set New Price Targets

DTM has been the subject of several recent analyst reports. Wolfe Research cut shares of DT Midstream from an “outperform” rating to a “peer perform” rating in a report on Wednesday, November 16th. Mizuho cut shares of DT Midstream from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $67.00 to $62.00 in a report on Monday, October 31st. Morgan Stanley lifted their target price on shares of DT Midstream from $60.00 to $64.00 and gave the stock an “underweight” rating in a report on Wednesday, October 19th. Finally, Barclays lifted their target price on shares of DT Midstream from $63.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, October 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DT Midstream presently has an average rating of “Hold” and a consensus price target of $61.17.

DT Midstream Profile

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DT Midstream, Inc provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. It develops, owns, and operates an integrated portfolio of interstate pipelines, intrastate pipelines, storage systems, lateral pipelines, gathering systems, related treatment plants, and compression and surface facilities.

See Also

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Institutional Ownership by Quarter for DT Midstream (NYSE:DTM)

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