Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,202 Shares of DT Midstream, Inc. (NYSE:DTM)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 6.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 21,214 shares of the company’s stock after purchasing an additional 1,202 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in DT Midstream were worth $1,163,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in DTM. Deutsche Bank AG grew its holdings in shares of DT Midstream by 1,176.7% during the 3rd quarter. Deutsche Bank AG now owns 867,145 shares of the company’s stock valued at $45,889,000 after purchasing an additional 799,224 shares during the last quarter. Eagle Global Advisors LLC purchased a new position in shares of DT Midstream in the third quarter valued at about $8,590,000. Envestnet Asset Management Inc. raised its stake in shares of DT Midstream by 186.3% during the third quarter. Envestnet Asset Management Inc. now owns 157,152 shares of the company’s stock valued at $8,316,000 after acquiring an additional 102,255 shares during the last quarter. Covalis Capital LLP purchased a new stake in shares of DT Midstream during the third quarter worth about $5,077,000. Finally, Comerica Bank grew its stake in shares of DT Midstream by 11,073.2% in the third quarter. Comerica Bank now owns 86,257 shares of the company’s stock worth $4,565,000 after purchasing an additional 85,485 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were purchased at an average price of $56.87 per share, for a total transaction of $56,870.00. Following the acquisition, the director now owns 37,289 shares in the company, valued at approximately $2,120,625.43. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.04% of the company’s stock.

DT Midstream Stock Down 0.8 %

Shares of DT Midstream stock opened at $64.06 on Friday. 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 company’s fifty day simple moving average is $60.05 and its two-hundred day simple moving average is $56.56. The company has a market cap of $6.22 billion, a P/E ratio of 16.22 and a beta of 0.73. DT Midstream, Inc. has a 12-month low of $45.10 and a 12-month high of $64.69.

DT Midstream (NYSE:DTM) last announced its earnings results on Friday, February 16th. The company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.32. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. The firm had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $235.19 million. During the same quarter in the previous year, the business posted $0.93 EPS. Research analysts anticipate that DT Midstream, Inc. will post 3.95 EPS for the current year.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend was Friday, March 15th. This is a boost from DT Midstream’s previous quarterly dividend of $0.69. DT Midstream’s payout ratio is 74.43%.

Analysts Set New Price Targets

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

About DT Midstream

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.