DT Midstream, Inc. (NYSE:DTM) Shares Acquired by Eagle Global Advisors LLC

Eagle Global Advisors LLC increased its position in DT Midstream, Inc. (NYSE:DTM) by 11.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 485,465 shares of the company’s stock after purchasing an additional 50,100 shares during the period. DT Midstream accounts for about 1.9% of Eagle Global Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. Eagle Global Advisors LLC’s holdings in DT Midstream were worth $46,838,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DTM. Blackstone Inc. lifted its holdings in DT Midstream by 2,783.1% in the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock worth $162,199,000 after acquiring an additional 1,574,705 shares during the last quarter. Zimmer Partners LP bought a new position in DT Midstream in the fourth quarter worth about $74,572,000. Vanguard Group Inc. lifted its holdings in DT Midstream by 5.9% in the first quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company’s stock worth $1,078,161,000 after acquiring an additional 621,183 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in DT Midstream by 108.8% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company’s stock worth $107,784,000 after acquiring an additional 564,899 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in DT Midstream by 9,693.3% in the first quarter. GAMMA Investing LLC now owns 390,262 shares of the company’s stock worth $37,652,000 after acquiring an additional 386,277 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Price Performance

NYSE DTM opened at $104.56 on Monday. DT Midstream, Inc. has a 12 month low of $71.97 and a 12 month high of $114.50. 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 firm has a market capitalization of $10.62 billion, a PE ratio of 28.03, a P/E/G ratio of 1.91 and a beta of 0.77. The company’s 50 day simple moving average is $104.59 and its 200 day simple moving average is $100.39.

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

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, September 15th. DT Midstream’s dividend payout ratio (DPR) is currently 87.94%.

Wall Street Analysts Forecast Growth

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

DT Midstream Company 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.