Capital Advisors Ltd. LLC grew its holdings in DT Midstream, Inc. (NYSE:DTM – Get Rating) by 24,322.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,198 shares of the company’s stock after purchasing an additional 2,189 shares during the period. Capital Advisors Ltd. LLC’s holdings in DT Midstream were worth $119,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. State Street Corp lifted its holdings in shares of DT Midstream by 2.8% in the fourth quarter. State Street Corp now owns 2,672,040 shares of the company’s stock valued at $129,789,000 after purchasing an additional 72,541 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in DT Midstream by 31.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,292,123 shares of the company’s stock valued at $109,976,000 after purchasing an additional 545,518 shares in the last quarter. Energy Income Partners LLC grew its stake in DT Midstream by 317.6% in the fourth quarter. Energy Income Partners LLC now owns 1,980,913 shares of the company’s stock valued at $95,044,000 after purchasing an additional 1,506,502 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in DT Midstream by 31,978.8% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,906,125 shares of the company’s stock worth $91,455,000 after purchasing an additional 1,900,183 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of DT Midstream by 1.6% during the 4th quarter. Jennison Associates LLC now owns 1,768,757 shares of the company’s stock valued at $84,865,000 after buying an additional 28,437 shares during the last quarter. Hedge funds and other institutional investors own 76.66% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on DTM. Morgan Stanley lifted their target price on shares of DT Midstream from $54.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, April 26th. Mizuho boosted their target price on shares of DT Midstream from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Barclays raised shares of DT Midstream from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $58.00 to $59.00 in a research report on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.50.
DT Midstream Price Performance
DT Midstream (NYSE:DTM – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.04). DT Midstream had a return on equity of 7.99% and a net margin of 37.97%. The firm had revenue of $215.00 million during the quarter, compared to analyst estimates of $224.37 million. On average, sell-side analysts expect that DT Midstream, Inc. will post 3.63 earnings per share for the current year.
DT Midstream Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, September 19th will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 4.73%. The ex-dividend date of this dividend is Friday, September 16th. DT Midstream’s payout ratio is currently 74.64%.
DT Midstream Company Profile
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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