Van ECK Associates Corp Buys 507 Shares of DT Midstream, Inc. (NYSE:DTM)

Van ECK Associates Corp raised its stake in DT Midstream, Inc. (NYSE:DTM) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,967 shares of the company’s stock after acquiring an additional 507 shares during the quarter. Van ECK Associates Corp’s holdings in DT Midstream were worth $1,697,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DTM. JPMorgan Chase & Co. boosted its holdings in DT Midstream by 2.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,931,337 shares of the company’s stock valued at $102,960,000 after purchasing an additional 39,059 shares during the period. Reaves W H & Co. Inc. grew its position in DT Midstream by 5.4% during the third quarter. Reaves W H & Co. Inc. now owns 962,954 shares of the company’s stock worth $50,960,000 after buying an additional 49,414 shares in the last quarter. Invesco Ltd. increased its stake in DT Midstream by 6.0% during the 3rd quarter. Invesco Ltd. now owns 921,917 shares of the company’s stock worth $48,788,000 after acquiring an additional 52,188 shares during the period. Deutsche Bank AG raised its holdings in DT Midstream by 1,176.7% in the 3rd quarter. Deutsche Bank AG now owns 867,145 shares of the company’s stock valued at $45,889,000 after acquiring an additional 799,224 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of DT Midstream by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 797,414 shares of the company’s stock valued at $42,199,000 after acquiring an additional 49,242 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DTM has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their price target on DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Wolfe Research raised shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Mizuho increased their price target on shares of DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. US Capital Advisors downgraded shares of DT Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Finally, Barclays raised their target price on DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $61.50.

Insider Buying and Selling

In other DT Midstream news, CFO Jeffrey A. Jewell purchased 400 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was purchased at an average cost of $62.80 per share, for a total transaction of $25,120.00. Following the transaction, the chief financial officer now owns 44,285 shares in the company, valued at approximately $2,781,098. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the stock in a transaction dated Monday, February 26th. The stock was bought at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the transaction, the director now directly owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey A. Jewell bought 400 shares of DT Midstream stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average price of $62.80 per share, for a total transaction of $25,120.00. Following the completion of the acquisition, the chief financial officer now directly owns 44,285 shares of the company’s stock, valued at $2,781,098. The disclosure for this purchase can be found here. 0.21% of the stock is owned by corporate insiders.

DT Midstream Stock Performance

NYSE DTM opened at $64.12 on Thursday. The firm’s fifty day moving average price is $60.97 and its two-hundred day moving average price is $56.96. The stock has a market cap of $6.23 billion, a PE ratio of 15.64 and a beta of 0.72. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.71. DT Midstream, Inc. has a fifty-two week low of $45.20 and a fifty-two week high of $64.70.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $240.00 million for the quarter, compared to analyst estimates of $242.62 million. DT Midstream had a return on equity of 9.41% and a net margin of 42.46%. During the same quarter in the previous year, the company posted $0.84 EPS. On average, equities analysts expect that DT Midstream, Inc. will post 3.93 EPS for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be issued a $0.735 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.94 dividend on an annualized basis and a yield of 4.59%. DT Midstream’s dividend payout ratio (DPR) is presently 71.71%.

DT Midstream Profile

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.