DT Midstream, Inc. (NYSE:DTM) Shares Acquired by American National Bank

American National Bank increased its position in shares of DT Midstream, Inc. (NYSE:DTM) by 100.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 468 shares of the company’s stock after acquiring an additional 234 shares during the quarter. American National Bank’s holdings in DT Midstream were worth $33,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in shares of DT Midstream in the fourth quarter valued at $815,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in DT Midstream by 6.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,214 shares of the company’s stock worth $1,163,000 after purchasing an additional 1,202 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in DT Midstream during the fourth quarter worth approximately $25,000. Signaturefd LLC raised its stake in DT Midstream by 28.7% during the fourth quarter. Signaturefd LLC now owns 2,065 shares of the company’s stock worth $113,000 after purchasing an additional 461 shares during the period. Finally, CWM LLC boosted its holdings in shares of DT Midstream by 14.9% in the 4th quarter. CWM LLC now owns 3,084 shares of the company’s stock valued at $169,000 after purchasing an additional 401 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on DTM. Mizuho upped their price target on DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. increased their target price on DT Midstream from $75.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Stifel Nicolaus raised their target price on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company upped their price target on DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, US Capital Advisors cut shares of DT Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DT Midstream has a consensus rating of “Hold” and an average price target of $70.00.

DT Midstream Stock Performance

Shares of NYSE DTM traded down $0.01 during mid-day trading on Thursday, hitting $75.76. The company had a trading volume of 420,320 shares, compared to its average volume of 655,246. DT Midstream, Inc. has a 12 month low of $50.54 and a 12 month high of $76.78. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 18.48 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.71. The firm’s 50 day simple moving average is $72.00 and its two-hundred day simple moving average is $65.05.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The company had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. During the same quarter in the previous year, the company posted $0.93 earnings per share. As a group, equities research analysts forecast that DT Midstream, Inc. will post 3.9 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a $0.735 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.94 annualized dividend and a dividend yield of 3.88%. DT Midstream’s payout ratio is currently 71.71%.

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.