DT Midstream, Inc. $DTM Shares Purchased by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. grew its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 568,445 shares of the company’s stock after buying an additional 14,127 shares during the quarter. Bahl & Gaynor Inc. owned 0.56% of DT Midstream worth $64,268,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Private Trust Co. NA boosted its position in DT Midstream by 23.6% during the 3rd quarter. Private Trust Co. NA now owns 535 shares of the company’s stock worth $60,000 after purchasing an additional 102 shares during the period. Geneos Wealth Management Inc. raised its position in DT Midstream by 39.3% in the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock valued at $42,000 after purchasing an additional 123 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of DT Midstream by 15.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 970 shares of the company’s stock worth $107,000 after purchasing an additional 130 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of DT Midstream by 48.6% in the third quarter. Smartleaf Asset Management LLC now owns 416 shares of the company’s stock worth $47,000 after buying an additional 136 shares during the period. Finally, Westside Investment Management Inc. grew its stake in shares of DT Midstream by 100.0% in the third quarter. Westside Investment Management Inc. now owns 290 shares of the company’s stock valued at $33,000 after buying an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Up 0.1%

NYSE DTM opened at $138.72 on Monday. The company has a market capitalization of $14.11 billion, a price-to-earnings ratio of 32.19, a price-to-earnings-growth ratio of 2.47 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. DT Midstream, Inc. has a 12 month low of $83.30 and a 12 month high of $139.96. The company’s fifty day moving average price is $125.26 and its two-hundred day moving average price is $116.14.

DT Midstream (NYSE:DTM) last released its earnings results on Thursday, February 19th. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.03). DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.The company had revenue of $317.00 million during the quarter, compared to the consensus estimate of $320.07 million. During the same period in the previous year, the firm posted $0.94 EPS. As a group, research analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.88 per share. The ex-dividend date is Monday, March 16th. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 annualized dividend and a yield of 2.5%. DT Midstream’s payout ratio is currently 76.10%.

Insider Buying and Selling

In other news, CFO Jeffrey A. Jewell bought 185 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was bought at an average price of $136.33 per share, for a total transaction of $25,221.05. Following the transaction, the chief financial officer owned 89,583 shares in the company, valued at $12,212,850.39. The trade was a 0.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DTM shares. UBS Group upped their price target on DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Citigroup boosted their target price on shares of DT Midstream from $130.00 to $156.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Morgan Stanley raised their price target on shares of DT Midstream from $137.00 to $139.00 and gave the company an “underweight” rating in a report on Tuesday, February 10th. Bank of America boosted their price objective on shares of DT Midstream from $118.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Stifel Nicolaus set a $137.00 price objective on shares of DT Midstream and gave the company a “hold” rating in a research report on Monday, February 23rd. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, DT Midstream presently has a consensus rating of “Hold” and a consensus price target of $136.18.

About DT Midstream

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.