Ensign Peak Advisors Inc Grows Position in DT Midstream, Inc. (NYSE:DTM)

Ensign Peak Advisors Inc raised its holdings in DT Midstream, Inc. (NYSE:DTM) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,127 shares of the company’s stock after acquiring an additional 385 shares during the period. Ensign Peak Advisors Inc’s holdings in DT Midstream were worth $3,692,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. FORA Capital LLC raised its holdings in shares of DT Midstream by 16.0% in the 4th quarter. FORA Capital LLC now owns 20,065 shares of the company’s stock valued at $1,995,000 after acquiring an additional 2,768 shares in the last quarter. Clark Capital Management Group Inc. increased its position in shares of DT Midstream by 32.7% during the 4th quarter. Clark Capital Management Group Inc. now owns 43,726 shares of the company’s stock valued at $4,348,000 after purchasing an additional 10,769 shares during the last quarter. Deutsche Bank AG increased its position in shares of DT Midstream by 5.5% during the 4th quarter. Deutsche Bank AG now owns 2,831,830 shares of the company’s stock valued at $281,569,000 after purchasing an additional 147,790 shares during the last quarter. Eagle Global Advisors LLC increased its position in shares of DT Midstream by 33.0% during the 4th quarter. Eagle Global Advisors LLC now owns 435,365 shares of the company’s stock valued at $43,288,000 after purchasing an additional 107,955 shares during the last quarter. Finally, CoreCap Advisors LLC increased its position in shares of DT Midstream by 3.9% during the 4th quarter. CoreCap Advisors LLC now owns 13,989 shares of the company’s stock valued at $1,391,000 after purchasing an additional 530 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on DTM shares. Wells Fargo & Company reduced their price objective on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. UBS Group increased their price objective on DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Barclays reduced their price objective on DT Midstream from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Stifel Nicolaus reduced their price target on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Morgan Stanley raised their price target on DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $108.27.

DT Midstream Price Performance

Shares of DTM stock opened at $102.71 on Thursday. The firm has a market cap of $10.43 billion, a P/E ratio of 24.99 and a beta of 0.77. DT Midstream, Inc. has a fifty-two week low of $65.43 and a fifty-two week high of $114.50. The business’s 50 day moving average price is $96.34 and its 200-day moving average price is $99.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). The business had revenue of $288.81 million during the quarter, compared to the consensus estimate of $285.48 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter in the prior year, the business posted $0.99 earnings per share. On average, equities research analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.19%. DT Midstream’s dividend payout ratio is currently 89.37%.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction dated Monday, March 10th. The stock was bought at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This trade represents a 2.66% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have acquired 1,235 shares of company stock worth $109,867. 0.34% of the stock is currently owned by insiders.

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.