DT Midstream, Inc. $DTM Stock: Bahl & Gaynor LLC Boosts Position

Bahl & Gaynor LLC boosted its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 3.1% in the third quarter, Holdings Channel reports. The institutional investor owned 637,845 shares of the company’s stock after purchasing an additional 19,374 shares during the period. Bahl & Gaynor LLC’s holdings in DT Midstream were worth $76,203,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Covestor Ltd increased its holdings in shares of DT Midstream by 190.4% during the third quarter. Covestor Ltd now owns 212 shares of the company’s stock valued at $25,000 after acquiring an additional 139 shares in the last quarter. Premier Financial Group bought a new position in DT Midstream in the 2nd quarter worth about $33,000. Western Wealth Management LLC bought a new position in DT Midstream in the 1st quarter worth about $32,000. Continuum Advisory LLC bought a new position in DT Midstream in the 2nd quarter worth about $36,000. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in DT Midstream during the 1st quarter valued at about $41,000. 81.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on DTM. Morgan Stanley reduced their price objective on shares of DT Midstream from $164.00 to $161.00 and set an “overweight” rating for the company in a research note on Tuesday, November 3rd. Scotiabank dropped their target price on shares of DT Midstream from $165.00 to $161.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, November 3rd. Wells Fargo & Company increased their price target on shares of DT Midstream from $165.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Barclays reduced their price target on shares of DT Midstream from $143.00 to $142.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 6th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $121.00 price target on shares of DT Midstream in a research report on Wednesday, October 14th. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $151.00.

DT Midstream Trading Up 2.1%

Shares of NYSE:DTM opened at $118.93 on Wednesday. The company has a market cap of $12.13 billion, a P/E ratio of 25.85, a PEG ratio of 1.62 and a beta of 0.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.16 and a quick ratio of 1.16. DT Midstream, Inc. has a 1 year low of $111.55 and a 1 year high of $152.88. The stock’s fifty day moving average price is $124.04 and its 200-day moving average price is $134.55.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.13 by $0.03. DT Midstream had a return on equity of 9.59% and a net margin of 35.36%. The company had revenue of $336.00 million during the quarter, compared to the consensus estimate of $337.63 million. During the same period last year, the company earned $1.13 EPS. Sell-side analysts expect that DT Midstream, Inc. will post 4.68 earnings per share for the current year.

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, December 15th. DT Midstream’s payout ratio is presently 76.52%.

DT Midstream Profile

DT Midstream is an independent natural gas infrastructure company that develops, owns and operates pipelines, gathering systems and storage facilities. Its services connect natural gas producers with utilities, power generators, industrial customers and other markets. The company’s assets include interstate pipelines and underground storage in the Midwest, as well as gathering and transportation systems serving producing regions such as the Appalachian Basin and Louisiana’s Haynesville shale area.