Vanguard Personalized Indexing Management LLC Has $1.62 Million Stake in DT Midstream, Inc. (NYSE:DTM)

Vanguard Personalized Indexing Management LLC raised its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 4.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,869 shares of the company’s stock after buying an additional 1,057 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in DT Midstream were worth $1,620,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Private Advisor Group LLC bought a new position in DT Midstream during the 4th quarter worth approximately $206,000. Beacon Pointe Advisors LLC bought a new position in shares of DT Midstream during the fourth quarter worth $209,000. Brown Advisory Inc. acquired a new position in shares of DT Midstream in the 4th quarter valued at $1,002,000. Norges Bank bought a new stake in shares of DT Midstream in the 4th quarter valued at $61,638,000. Finally, Corient Private Wealth LLC raised its stake in DT Midstream by 14.8% during the 4th quarter. Corient Private Wealth LLC now owns 20,160 shares of the company’s stock worth $1,105,000 after buying an additional 2,592 shares during the period. 81.53% of the stock is owned by institutional investors.

DT Midstream Price Performance

NYSE DTM opened at $77.82 on Friday. The firm’s 50 day moving average is $75.00 and its 200-day moving average is $68.33. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $7.56 billion, a PE ratio of 18.98 and a beta of 0.74. DT Midstream, Inc. has a 12-month low of $50.88 and a 12-month high of $78.83.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The firm had revenue of $244.00 million for the quarter, compared to analyst estimates of $236.83 million. During the same period in the previous year, the business earned $0.93 EPS. Equities research analysts anticipate that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a dividend of $0.735 per share. The ex-dividend date is Monday, September 16th. This represents a $2.94 annualized dividend and a yield of 3.78%. DT Midstream’s payout ratio is presently 71.71%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DTM. Wells Fargo & Company boosted their target price on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Barclays increased their target price on DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Stifel Nicolaus lifted their price target on shares of DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Citigroup increased their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of DT Midstream from $75.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DT Midstream presently has an average rating of “Hold” and an average target price of $70.75.

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.