PNC Financial Services Group Inc. Acquires 337 Shares of DT Midstream, Inc. (NYSE:DTM)

PNC Financial Services Group Inc. lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,214 shares of the company’s stock after acquiring an additional 337 shares during the period. PNC Financial Services Group Inc.’s holdings in DT Midstream were worth $889,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DTM. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of DT Midstream during the first quarter worth about $25,000. Alpine Bank Wealth Management bought a new stake in shares of DT Midstream during the first quarter worth about $26,000. Bessemer Group Inc. boosted its holdings in DT Midstream by 61.6% during the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock worth $30,000 after purchasing an additional 117 shares during the last quarter. Versant Capital Management Inc boosted its holdings in DT Midstream by 130.2% during the first quarter. Versant Capital Management Inc now owns 488 shares of the company’s stock worth $47,000 after purchasing an additional 276 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in DT Midstream by 50.3% during the first quarter. UMB Bank n.a. now owns 723 shares of the company’s stock worth $70,000 after purchasing an additional 242 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

DT Midstream Stock Performance

DT Midstream stock opened at $104.39 on Tuesday. DT Midstream, Inc. has a 1-year low of $71.97 and a 1-year high of $114.50. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $10.60 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. The firm’s 50 day simple moving average is $104.54 and its 200 day simple moving average is $100.34.

DT Midstream (NYSE:DTM) last posted its earnings results on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.06. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. The business had revenue of $299.00 million for the quarter, compared to analysts’ expectations of $295.70 million. During the same period in the prior year, the company posted $0.98 EPS. As a group, analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a $0.82 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.28 annualized dividend and a yield of 3.1%. DT Midstream’s dividend payout ratio is currently 87.94%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Barclays boosted their price target on shares of DT Midstream from $102.00 to $103.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 20th. Stifel Nicolaus boosted their price target on shares of DT Midstream from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Morgan Stanley boosted their price target on shares of DT Midstream from $113.00 to $118.00 and gave the stock an “underweight” rating in a report on Wednesday, August 6th. Wells Fargo & Company boosted their target price on shares of DT Midstream from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, US Capital Advisors cut shares of DT Midstream from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $110.91.

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.