International Assets Investment Management LLC Buys New Position in DT Midstream, Inc. (NYSE:DTM)

International Assets Investment Management LLC purchased a new position in DT Midstream, Inc. (NYSE:DTM) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,865 shares of the company’s stock, valued at approximately $815,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mariner LLC raised its holdings in shares of DT Midstream by 10.6% in the 3rd quarter. Mariner LLC now owns 20,790 shares of the company’s stock worth $1,100,000 after purchasing an additional 1,985 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of DT Midstream by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 1,931,337 shares of the company’s stock valued at $102,960,000 after buying an additional 39,059 shares in the last quarter. Comerica Bank lifted its position in shares of DT Midstream by 11,073.2% during the 3rd quarter. Comerica Bank now owns 86,257 shares of the company’s stock valued at $4,565,000 after acquiring an additional 85,485 shares during the last quarter. Whittier Trust Co. boosted its stake in shares of DT Midstream by 175.0% during the 4th quarter. Whittier Trust Co. now owns 1,672 shares of the company’s stock worth $92,000 after acquiring an additional 1,064 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of DT Midstream by 100.2% in the 3rd quarter. Barclays PLC now owns 117,302 shares of the company’s stock worth $6,207,000 after acquiring an additional 58,722 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction dated Monday, February 26th. The shares were bought at an average cost of $56.87 per share, with a total value of $56,870.00. Following the completion of the transaction, the director now owns 37,289 shares in the company, valued at approximately $2,120,625.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DTM shares. Wolfe Research upgraded DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Mizuho restated a “neutral” rating and set a $57.00 price target (down previously from $58.00) on shares of DT Midstream in a report on Friday, January 5th. Finally, Barclays raised their price objective on shares of DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, DT Midstream presently has an average rating of “Hold” and a consensus price target of $58.50.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $63.10 on Wednesday. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 15.97 and a beta of 0.73. DT Midstream, Inc. has a 1 year low of $45.10 and a 1 year high of $64.19. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.72. The business has a fifty day simple moving average of $59.37 and a 200 day simple moving average of $56.37.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Friday, February 16th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.32. The business had revenue of $244.00 million during the quarter, compared to analyst estimates of $235.19 million. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. During the same period in the previous year, the company earned $0.93 EPS. As a group, sell-side analysts predict that DT Midstream, Inc. will post 3.86 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were given a $0.735 dividend. This is a positive change from DT Midstream’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Friday, March 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.66%. DT Midstream’s dividend payout ratio (DPR) is currently 74.43%.

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.