Victory Capital Management Inc. Boosts Holdings in DT Midstream, Inc. (NYSE:DTM)

Victory Capital Management Inc. increased its holdings in DT Midstream, Inc. (NYSE:DTM) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,300 shares of the company’s stock after buying an additional 3,545 shares during the quarter. Victory Capital Management Inc.’s holdings in DT Midstream were worth $1,332,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DTM. TD Asset Management Inc purchased a new position in shares of DT Midstream in the third quarter worth approximately $1,736,000. Principal Financial Group Inc. lifted its holdings in DT Midstream by 2.4% during the third quarter. Principal Financial Group Inc. now owns 388,946 shares of the company’s stock valued at $20,583,000 after purchasing an additional 9,016 shares in the last quarter. Larson Financial Group LLC lifted its holdings in DT Midstream by 32.8% during the third quarter. Larson Financial Group LLC now owns 1,720 shares of the company’s stock valued at $91,000 after purchasing an additional 425 shares in the last quarter. NBC Securities Inc. purchased a new position in DT Midstream during the third quarter valued at approximately $2,892,000. Finally, Donoghue Forlines LLC purchased a new position in DT Midstream during the third quarter valued at approximately $347,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Up 0.5 %

Shares of DTM opened at $66.88 on Monday. DT Midstream, Inc. has a twelve month low of $45.20 and a twelve month high of $67.06. The company has a market cap of $6.49 billion, a P/E ratio of 16.31 and a beta of 0.72. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71. The company’s fifty day simple moving average is $62.21 and its 200-day simple moving average is $57.62.

DT Midstream (NYSE:DTM) last announced its earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. The business had revenue of $240.00 million for the quarter, compared to the consensus estimate of $242.62 million. During the same quarter in the prior year, the firm posted $0.84 earnings per share. As a group, analysts expect that DT Midstream, Inc. will post 3.92 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Monday, June 17th. DT Midstream’s dividend payout ratio is currently 71.71%.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average price of $56.87 per share, with a total value of $56,870.00. Following the purchase, the director now directly owns 37,289 shares of the company’s stock, valued at approximately $2,120,625.43. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Jeffrey A. Jewell purchased 400 shares of DT Midstream stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $62.80 per share, with a total value of $25,120.00. Following the purchase, the chief financial officer now directly owns 44,285 shares of the company’s stock, valued at approximately $2,781,098. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the purchase, the director now directly owns 37,289 shares in the company, valued at $2,120,625.43. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on DTM shares. Barclays lifted their price target on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, April 5th. US Capital Advisors downgraded shares of DT Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Stifel Nicolaus boosted their target price on shares of DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Mizuho boosted their price target on shares of DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. Finally, Wolfe Research upgraded 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, four have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, DT Midstream presently has a consensus rating of “Hold” and an average target price of $61.50.

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.