First Trust Advisors LP Grows Position in DT Midstream, Inc. (NYSE:DTM)

First Trust Advisors LP boosted its stake in shares of DT Midstream, Inc. (NYSE:DTMFree Report) by 284.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,524,401 shares of the company’s stock after purchasing an additional 1,128,056 shares during the period. First Trust Advisors LP owned approximately 1.57% of DT Midstream worth $83,537,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in DT Midstream by 8.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock worth $186,407,000 after purchasing an additional 266,433 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of DT Midstream in the 4th quarter valued at $815,000. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of DT Midstream in the 4th quarter valued at $1,506,000. Mariner LLC boosted its holdings in shares of DT Midstream by 10.6% in the 3rd quarter. Mariner LLC now owns 20,790 shares of the company’s stock valued at $1,100,000 after acquiring an additional 1,985 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of DT Midstream by 2.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,931,337 shares of the company’s stock valued at $102,960,000 after acquiring an additional 39,059 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on DTM shares. Mizuho upped their price objective on shares of DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Stifel Nicolaus upped their price objective on shares of DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Wells Fargo & Company raised shares of DT Midstream from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $62.00 to $77.00 in a report on Tuesday. US Capital Advisors downgraded shares of DT Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Finally, Wolfe Research upgraded shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.71.

Check Out Our Latest Analysis on DTM

DT Midstream Stock Performance

DTM opened at $68.28 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a fifty day moving average price of $64.29 and a 200 day moving average price of $58.61. The stock has a market cap of $6.63 billion, a P/E ratio of 16.65 and a beta of 0.73. DT Midstream, Inc. has a 1 year low of $46.36 and a 1 year high of $68.45.

DT Midstream (NYSE:DTMGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The company had revenue of $240.00 million during the quarter, compared to analysts’ expectations of $242.62 million. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. During the same period in the prior year, the business posted $0.84 earnings per share. Equities research analysts anticipate that DT Midstream, Inc. will post 3.94 earnings per share for the current year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Monday, June 17th. DT Midstream’s dividend payout ratio is presently 71.71%.

Insiders Place Their Bets

In related news, CFO Jeffrey A. Jewell acquired 400 shares of DT Midstream stock in a transaction on Friday, May 3rd. The stock was bought at an average cost of $62.80 per share, for a total transaction of $25,120.00. Following the completion of the transaction, the chief financial officer now owns 44,285 shares of the company’s stock, valued at approximately $2,781,098. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is currently owned by company insiders.

DT Midstream Profile

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

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