AGF Management Ltd. Purchases 5,993 Shares of DT Midstream, Inc. (NYSE:DTM)

AGF Management Ltd. boosted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 8.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 74,061 shares of the company’s stock after buying an additional 5,993 shares during the period. AGF Management Ltd.’s holdings in DT Midstream were worth $3,671,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DTM. Janney Montgomery Scott LLC boosted its position in shares of DT Midstream by 3.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 7,008 shares of the company’s stock valued at $346,000 after acquiring an additional 237 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in DT Midstream by 48.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 783 shares of the company’s stock valued at $39,000 after purchasing an additional 254 shares during the last quarter. Advisor Partners II LLC grew its stake in DT Midstream by 5.7% in the 4th quarter. Advisor Partners II LLC now owns 4,761 shares of the company’s stock worth $263,000 after buying an additional 256 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of DT Midstream by 5.0% in the 1st quarter. American Century Companies Inc. now owns 5,889 shares of the company’s stock worth $320,000 after buying an additional 278 shares during the last quarter. Finally, TFG Advisers LLC raised its position in shares of DT Midstream by 5.9% during the 2nd quarter. TFG Advisers LLC now owns 5,239 shares of the company’s stock valued at $260,000 after buying an additional 291 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Up 0.7 %

Shares of NYSE DTM opened at $56.25 on Thursday. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 15.67 and a beta of 0.78. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.73. The firm’s fifty day moving average is $54.00 and its 200 day moving average is $51.23. DT Midstream, Inc. has a 52 week low of $45.10 and a 52 week high of $61.00.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. DT Midstream had a net margin of 37.78% and a return on equity of 8.46%. The firm had revenue of $234.00 million during the quarter, compared to the consensus estimate of $226.76 million. During the same period in the prior year, the firm posted $0.90 earnings per share. On average, equities research analysts expect that DT Midstream, Inc. will post 3.58 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Monday, December 18th will be paid a dividend of $0.69 per share. The ex-dividend date is Friday, December 15th. This represents a $2.76 annualized dividend and a dividend yield of 4.91%. DT Midstream’s dividend payout ratio (DPR) is presently 76.88%.

Analyst Ratings Changes

DTM has been the topic of a number of research analyst reports. TheStreet raised DT Midstream from a “d” rating to a “b-” rating in a research note on Wednesday, September 6th. Mizuho reissued a “buy” rating and set a $58.00 price objective on shares of DT Midstream in a report on Friday, September 15th. Morgan Stanley cut their target price on DT Midstream from $60.00 to $58.00 and set an “underweight” rating for the company in a research note on Thursday, July 20th. Raymond James boosted their price objective on shares of DT Midstream from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, October 19th. Finally, The Goldman Sachs Group began coverage on shares of DT Midstream in a report on Thursday, October 5th. They set a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $57.25.

About DT Midstream

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.