Price T Rowe Associates Inc. MD Acquires 5,866 Shares of DT Midstream, Inc. (NYSE:DTM)

Price T Rowe Associates Inc. MD boosted its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,369 shares of the company’s stock after purchasing an additional 5,866 shares during the period. Price T Rowe Associates Inc. MD owned about 0.06% of DT Midstream worth $5,904,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Bessemer Group Inc. lifted its position in shares of DT Midstream by 61.6% during the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock valued at $30,000 after buying an additional 117 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after purchasing an additional 163 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of DT Midstream in the third quarter worth $29,000. Finally, UMB Bank n.a. raised its position in shares of DT Midstream by 53.2% during the 4th quarter. UMB Bank n.a. now owns 481 shares of the company’s stock valued at $48,000 after purchasing an additional 167 shares during the period. Institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

DT Midstream stock opened at $100.80 on Friday. DT Midstream, Inc. has a 52-week low of $62.90 and a 52-week high of $114.50. The company has a market cap of $10.24 billion, a price-to-earnings ratio of 24.53 and a beta of 0.77. The firm’s fifty day moving average is $94.98 and its 200 day moving average is $98.52. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The company had revenue of $288.81 million during the quarter, compared to analysts’ expectations of $285.48 million. During the same quarter in the prior year, the business posted $0.99 EPS. Sell-side analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be given a $0.82 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a yield of 3.25%. DT Midstream’s dividend payout ratio is presently 91.11%.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now owns 38,653 shares of the company’s stock, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Williams Trading set a $110.00 target price on shares of DT Midstream in a report on Monday, March 24th. UBS Group increased their target price on DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Raymond James boosted their price target on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Wells Fargo & Company cut their price objective on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, Stifel Nicolaus lowered their target price on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $108.27.

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.