Mackenzie Financial Corp Purchases 35,087 Shares of DT Midstream, Inc. (NYSE:DTM)

Mackenzie Financial Corp lifted its holdings in DT Midstream, Inc. (NYSE:DTM) by 34.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 137,143 shares of the company’s stock after purchasing an additional 35,087 shares during the period. Mackenzie Financial Corp owned about 0.14% of DT Midstream worth $9,741,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DTM. Family Firm Inc. bought a new position in DT Midstream in the second quarter worth approximately $26,000. Mather Group LLC. bought a new position in DT Midstream in the 1st quarter worth $29,000. First Command Advisory Services Inc. purchased a new position in DT Midstream during the second quarter valued at $31,000. ICA Group Wealth Management LLC bought a new stake in DT Midstream during the fourth quarter valued at about $32,000. Finally, American National Bank increased its position in DT Midstream by 100.0% in the second quarter. American National Bank now owns 468 shares of the company’s stock worth $33,000 after buying an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Performance

Shares of NYSE DTM opened at $78.65 on Tuesday. The company has a market cap of $7.64 billion, a P/E ratio of 19.18 and a beta of 0.74. DT Midstream, Inc. has a 52-week low of $50.88 and a 52-week high of $79.73. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. The firm’s fifty day moving average is $75.73 and its two-hundred day moving average is $69.34.

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

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.94 annualized dividend and a dividend yield of 3.74%. DT Midstream’s dividend payout ratio (DPR) is 71.71%.

Analyst Ratings Changes

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