Panagora Asset Management Inc. lifted its holdings in DT Midstream, Inc. (NYSE:DTM – Get Rating) by 329.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,899 shares of the company’s stock after acquiring an additional 41,351 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.06% of DT Midstream worth $2,586,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System increased its stake in DT Midstream by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 24,900 shares of the company’s stock valued at $1,195,000 after purchasing an additional 200 shares in the last quarter. State of Michigan Retirement System boosted its holdings in shares of DT Midstream by 0.8% in the 4th quarter. State of Michigan Retirement System now owns 24,500 shares of the company’s stock valued at $1,176,000 after buying an additional 200 shares during the last quarter. TD Asset Management Inc. grew its position in shares of DT Midstream by 3.2% in the 3rd quarter. TD Asset Management Inc. now owns 7,427 shares of the company’s stock valued at $343,000 after acquiring an additional 228 shares during the period. Exchange Traded Concepts LLC raised its stake in DT Midstream by 1.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 13,281 shares of the company’s stock valued at $637,000 after buying an additional 240 shares during the period. Finally, IndexIQ Advisors LLC increased its holdings in shares of DT Midstream by 2.6% in the fourth quarter. IndexIQ Advisors LLC now owns 10,973 shares of the company’s stock valued at $526,000 after purchasing an additional 277 shares during the last quarter. Institutional investors own 76.66% of the company’s stock.
Several brokerages have recently commented on DTM. The Goldman Sachs Group cut shares of DT Midstream from a “buy” rating to a “neutral” rating and set a $58.00 target price on the stock. in a report on Friday, March 4th. Barclays raised their price objective on shares of DT Midstream from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, January 20th. Wells Fargo & Company increased their price target on DT Midstream from $57.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, February 28th. Morgan Stanley upped their target price on DT Midstream from $54.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, April 26th. Finally, Mizuho boosted their price objective on DT Midstream from $55.00 to $57.00 in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $57.38.
DT Midstream (NYSE:DTM – Get Rating) last announced its quarterly earnings results on Friday, February 25th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.81 by $0.08. The firm had revenue of $223.00 million for the quarter, compared to analyst estimates of $202.34 million. DT Midstream had a return on equity of 8.28% and a net margin of 36.13%. On average, equities analysts expect that DT Midstream, Inc. will post 3.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Monday, June 20th will be issued a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, June 16th. This represents a $2.56 annualized dividend and a dividend yield of 4.73%. DT Midstream’s dividend payout ratio (DPR) is presently 80.00%.
About DT Midstream (Get Rating)
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.
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