National Bank of Canada FI Increases Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

National Bank of Canada FI grew its position in DT Midstream, Inc. (NYSE:DTM) by 127.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,555 shares of the company’s stock after buying an additional 38,395 shares during the quarter. National Bank of Canada FI owned 0.07% of DT Midstream worth $6,613,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of DT Midstream in the first quarter valued at $25,000. Alpine Bank Wealth Management purchased a new position in shares of DT Midstream in the first quarter valued at $26,000. Bessemer Group Inc. increased its position in shares of DT Midstream by 61.6% in the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock valued at $30,000 after buying an additional 117 shares in the last quarter. Versant Capital Management Inc increased its position in DT Midstream by 130.2% during the 1st quarter. Versant Capital Management Inc now owns 488 shares of the company’s stock worth $47,000 after purchasing an additional 276 shares in the last quarter. Finally, UMB Bank n.a. increased its position in DT Midstream by 50.3% during the 1st quarter. UMB Bank n.a. now owns 723 shares of the company’s stock worth $70,000 after purchasing an additional 242 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DTM shares. Barclays lifted their price objective on DT Midstream from $102.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 20th. US Capital Advisors cut DT Midstream from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 28th. Wells Fargo & Company lifted their price objective on DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Morgan Stanley lifted their price objective on DT Midstream from $113.00 to $118.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 6th. Finally, Stifel Nicolaus lifted their price objective on DT Midstream from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $110.91.

Insider Buying and Selling at DT Midstream

In other news, VP Melissa Cox sold 4,755 shares of DT Midstream stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $104.47, for a total value of $496,754.85. Following the transaction, the vice president directly owned 5,171 shares of the company’s stock, valued at $540,214.37. The trade was a 47.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.34% of the stock is owned by corporate insiders.

DT Midstream Stock Up 0.3%

DTM opened at $103.71 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.88 and a beta of 0.77. The business has a 50-day moving average of $104.41 and a two-hundred day moving average of $100.38. DT Midstream, Inc. has a 12 month low of $72.69 and a 12 month high of $114.50.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. The business had revenue of $299.00 million for the quarter, compared to analyst estimates of $295.70 million. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%. During the same period in the previous year, the company posted $0.98 EPS. On average, research analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. DT Midstream’s payout ratio is currently 87.94%.

DT Midstream Profile

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.