Premier Fund Managers Ltd Purchases 2,000 Shares of DT Midstream, Inc. (NYSE:DTM)

Premier Fund Managers Ltd increased its position in shares of DT Midstream, Inc. (NYSE:DTM) by 7.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 30,000 shares of the company’s stock after buying an additional 2,000 shares during the quarter. Premier Fund Managers Ltd’s holdings in DT Midstream were worth $2,903,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of DTM. CWM LLC boosted its holdings in DT Midstream by 18.9% in the 1st quarter. CWM LLC now owns 4,201 shares of the company’s stock valued at $405,000 after purchasing an additional 669 shares during the period. OneDigital Investment Advisors LLC bought a new stake in DT Midstream in the 1st quarter valued at $274,000. Bessemer Group Inc. boosted its holdings in DT Midstream by 44.0% in the 1st quarter. Bessemer Group Inc. now owns 442 shares of the company’s stock valued at $43,000 after purchasing an additional 135 shares during the period. True Link Financial Advisors LLC bought a new stake in DT Midstream in the 1st quarter valued at $238,000. Finally, Catalyst Capital Advisors LLC boosted its holdings in DT Midstream by 10.1% in the 1st quarter. Catalyst Capital Advisors LLC now owns 144,025 shares of the company’s stock valued at $13,896,000 after purchasing an additional 13,243 shares during the period. 81.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DTM has been the subject of a number of research reports. Barclays increased their price target on shares of DT Midstream from $102.00 to $103.00 and gave the company an “equal weight” rating in a report on Tuesday, May 20th. US Capital Advisors downgraded shares of DT Midstream from a “moderate buy” rating to a “hold” rating in a report on Monday, April 28th. Finally, Morgan Stanley set a $115.00 price target on shares of DT Midstream and gave the company an “underweight” rating in a report on Tuesday, June 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $109.27.

DT Midstream Price Performance

NYSE:DTM opened at $99.23 on Tuesday. DT Midstream, Inc. has a 52 week low of $69.82 and a 52 week high of $114.50. The company has a market capitalization of $10.08 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 1.81 and a beta of 0.78. The company has a 50-day moving average of $104.66 and a 200-day moving average of $100.83. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 0.82.

DT Midstream (NYSE:DTM) last announced its quarterly 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). DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. The firm had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. During the same period in the prior year, the business earned $0.99 earnings per share. As a group, equities research analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 16th were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Monday, June 16th. DT Midstream’s dividend payout ratio is currently 89.37%.

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.