Federated Hermes Inc. Increases Stock Position in DT Midstream, Inc. (NYSE:DTM)

Federated Hermes Inc. increased its position in shares of DT Midstream, Inc. (NYSE:DTM) by 19.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,819 shares of the company’s stock after purchasing an additional 1,590 shares during the quarter. Federated Hermes Inc.’s holdings in DT Midstream were worth $697,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Qsemble Capital Management LP grew its holdings in shares of DT Midstream by 426.6% in the second quarter. Qsemble Capital Management LP now owns 25,100 shares of the company’s stock valued at $1,783,000 after acquiring an additional 20,334 shares in the last quarter. Brasada Capital Management LP grew its stake in DT Midstream by 3.9% in the 2nd quarter. Brasada Capital Management LP now owns 22,065 shares of the company’s stock valued at $1,558,000 after purchasing an additional 835 shares during the period. Malaga Cove Capital LLC purchased a new stake in shares of DT Midstream during the 2nd quarter valued at $210,000. Caprock Group LLC raised its stake in shares of DT Midstream by 6.4% during the 2nd quarter. Caprock Group LLC now owns 3,915 shares of the company’s stock worth $281,000 after purchasing an additional 236 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of DT Midstream in the 2nd quarter worth about $6,309,000. 81.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

DT Midstream Price Performance

DT Midstream stock opened at $77.82 on Monday. The firm has a market capitalization of $7.56 billion, a P/E ratio of 18.98 and a beta of 0.74. DT Midstream, Inc. has a one year low of $50.88 and a one year high of $78.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. The business has a fifty day moving average price of $75.00 and a 200-day moving average price of $68.40.

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

DT Midstream Announces Dividend

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

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.