Northern Trust Corp Buys 291,039 Shares of DT Midstream, Inc. (NYSE:DTM)

Northern Trust Corp grew its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 37.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,062,397 shares of the company’s stock after purchasing an additional 291,039 shares during the quarter. Northern Trust Corp owned about 1.09% of DT Midstream worth $105,634,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in DTM. Vanguard Group Inc. raised its position in DT Midstream by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock worth $1,049,363,000 after acquiring an additional 359,017 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of DT Midstream by 18.7% in the 4th quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company’s stock valued at $243,948,000 after purchasing an additional 386,670 shares during the period. Invesco Ltd. lifted its stake in DT Midstream by 24.7% in the 4th quarter. Invesco Ltd. now owns 1,487,901 shares of the company’s stock valued at $147,942,000 after purchasing an additional 294,583 shares during the last quarter. Norges Bank bought a new position in DT Midstream during the fourth quarter worth about $119,520,000. Finally, Reaves W H & Co. Inc. increased its position in DT Midstream by 8.2% during the fourth quarter. Reaves W H & Co. Inc. now owns 981,879 shares of the company’s stock worth $97,628,000 after buying an additional 74,329 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the transaction, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by insiders.

DT Midstream Trading Up 3.1 %

Shares of DTM stock opened at $100.80 on Friday. The stock has a 50 day simple moving average of $94.98 and a 200 day simple moving average of $98.52. DT Midstream, Inc. has a 1 year low of $62.90 and a 1 year high of $114.50. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market cap of $10.24 billion, a P/E ratio of 24.53 and a beta of 0.77.

DT Midstream (NYSE:DTM) last released its earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.01). The company had revenue of $288.81 million for the quarter, compared to analyst estimates of $285.48 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same period last year, the company posted $0.99 earnings per share. On average, research analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The company also recently announced 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. This represents a $3.28 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Monday, June 16th. DT Midstream’s payout ratio is presently 91.11%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Stifel Nicolaus reduced their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Bank of America initiated coverage on shares of DT Midstream in a report on Monday, March 24th. They issued a “buy” rating and a $110.00 price objective on the stock. Morgan Stanley raised their target price on shares of DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 25th. Raymond James upped their price target on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, UBS Group raised their price objective on shares of DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, DT Midstream presently has a consensus rating of “Hold” and an average price target of $108.27.

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.