TD Asset Management Inc Acquires 2,800 Shares of DT Midstream, Inc. (NYSE:DTM)

TD Asset Management Inc grew its holdings in shares of DT Midstream, Inc. (NYSE:DTMFree Report) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,600 shares of the company’s stock after buying an additional 2,800 shares during the quarter. TD Asset Management Inc’s holdings in DT Midstream were worth $1,951,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Wetzel Investment Advisors Inc. bought a new stake in DT Midstream during the fourth quarter worth about $25,000. HHM Wealth Advisors LLC bought a new stake in shares of DT Midstream during the 4th quarter worth approximately $25,000. GAMMA Investing LLC acquired a new stake in shares of DT Midstream in the 4th quarter valued at approximately $52,000. Blue Trust Inc. boosted its holdings in shares of DT Midstream by 28.3% in the 4th quarter. Blue Trust Inc. now owns 992 shares of the company’s stock valued at $53,000 after buying an additional 219 shares during the last quarter. Finally, Nemes Rush Group LLC grew its stake in shares of DT Midstream by 64.3% in the fourth quarter. Nemes Rush Group LLC now owns 1,150 shares of the company’s stock valued at $63,000 after buying an additional 450 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DT Midstream

In related news, CFO Jeffrey A. Jewell purchased 400 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $62.80 per share, for a total transaction of $25,120.00. Following the completion of the purchase, the chief financial officer now owns 44,285 shares in the company, valued at approximately $2,781,098. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.04% of the company’s stock.

DT Midstream Stock Performance

DTM opened at $68.30 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $6.63 billion, a PE ratio of 16.66 and a beta of 0.73. The business has a fifty day simple moving average of $64.58 and a 200 day simple moving average of $58.76. DT Midstream, Inc. has a 1 year low of $46.36 and a 1 year high of $68.53.

DT Midstream (NYSE:DTMGet Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. The company had revenue of $240.00 million during the quarter, compared to analysts’ expectations of $242.62 million. During the same quarter in the previous year, the business posted $0.84 earnings per share. Research analysts expect that DT Midstream, Inc. will post 3.94 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be given a dividend of $0.735 per share. The ex-dividend date is Monday, June 17th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.30%. DT Midstream’s payout ratio is presently 71.71%.

Analysts Set New Price Targets

A number of analysts have commented on DTM shares. Barclays increased their price target on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Wolfe Research upgraded DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Mizuho upped their price objective on DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Stifel Nicolaus lifted their target price on DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company raised DT Midstream from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $62.00 to $77.00 in a report on Tuesday, June 4th. Two analysts have 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. According to data from MarketBeat, DT Midstream has an average rating of “Hold” and an average target price of $63.71.

Read Our Latest Stock Report on DT Midstream

About DT Midstream

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for DT Midstream (NYSE:DTM)

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