First American Bank Has $2.16 Million Position in DT Midstream, Inc. $DTM

First American Bank lifted its position in DT Midstream, Inc. (NYSE:DTM) by 48.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,073 shares of the company’s stock after buying an additional 5,927 shares during the period. First American Bank’s holdings in DT Midstream were worth $2,163,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Royal Bank of Canada increased its position in shares of DT Midstream by 21.6% during the first quarter. Royal Bank of Canada now owns 90,286 shares of the company’s stock worth $8,711,000 after acquiring an additional 16,043 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of DT Midstream by 1.6% in the first quarter. NewEdge Advisors LLC now owns 13,631 shares of the company’s stock valued at $1,315,000 after acquiring an additional 218 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of DT Midstream by 13.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,241 shares of the company’s stock worth $26,652,000 after purchasing an additional 31,894 shares during the last quarter. Geneos Wealth Management Inc. raised its position in DT Midstream by 39.3% during the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock worth $42,000 after acquiring an additional 123 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of DT Midstream by 34.3% in the 2nd quarter. Prudential Financial Inc. now owns 13,283 shares of the company’s stock valued at $1,460,000 after purchasing an additional 3,391 shares during the period. 81.53% of the stock is owned by institutional investors.

Insider Transactions at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell acquired 185 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average price of $136.33 per share, for a total transaction of $25,221.05. Following the acquisition, the chief financial officer directly owned 89,583 shares in the company, valued at $12,212,850.39. This represents a 0.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by company insiders.

DT Midstream Stock Performance

DT Midstream stock opened at $134.08 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The stock has a market cap of $13.68 billion, a PE ratio of 31.11, a P/E/G ratio of 2.77 and a beta of 0.75. DT Midstream, Inc. has a 12-month low of $83.30 and a 12-month high of $143.67. The business’s 50-day moving average price is $134.01 and its two-hundred day moving average price is $121.75.

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

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, March 16th. This is a boost from DT Midstream’s previous quarterly dividend of $0.82. DT Midstream’s payout ratio is currently 81.67%.

Wall Street Analysts Forecast Growth

DTM has been the topic of a number of recent analyst reports. Citigroup boosted their target price on DT Midstream from $130.00 to $156.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Bank of America increased their price target on shares of DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Weiss Ratings reissued a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, January 21st. Wall Street Zen cut shares of DT Midstream from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, Morgan Stanley upped their target price on DT Midstream from $137.00 to $139.00 and gave the company an “underweight” rating in a research report on Tuesday, February 10th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $144.10.

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.