Linden Thomas Advisory Services LLC Raises Stake in DT Midstream, Inc. (NYSE:DTM)

Linden Thomas Advisory Services LLC boosted its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 1.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,961 shares of the company’s stock after purchasing an additional 245 shares during the period. Linden Thomas Advisory Services LLC’s holdings in DT Midstream were worth $820,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Deutsche Bank AG boosted its holdings in shares of DT Midstream by 1,176.7% in the third quarter. Deutsche Bank AG now owns 867,145 shares of the company’s stock valued at $45,889,000 after purchasing an additional 799,224 shares during the period. Eagle Global Advisors LLC bought a new position in shares of DT Midstream during the 3rd quarter worth $8,590,000. Envestnet Asset Management Inc. increased its stake in shares of DT Midstream by 186.3% during the third quarter. Envestnet Asset Management Inc. now owns 157,152 shares of the company’s stock valued at $8,316,000 after buying an additional 102,255 shares during the period. Covalis Capital LLP bought a new stake in shares of DT Midstream in the third quarter valued at about $5,077,000. Finally, Comerica Bank lifted its stake in DT Midstream by 11,073.2% in the third quarter. Comerica Bank now owns 86,257 shares of the company’s stock worth $4,565,000 after acquiring an additional 85,485 shares during the period. 81.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on DTM. Mizuho reissued a “neutral” rating and set a $57.00 target price (down previously from $58.00) on shares of DT Midstream in a research report on Friday, January 5th. Wolfe Research raised shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, February 20th. Finally, Barclays upped their target price on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $58.50.

Insider Buying and Selling

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $56.87 per share, with a total value of $56,870.00. Following the acquisition, the director now directly owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.04% of the company’s stock.

DT Midstream Stock Performance

DTM opened at $64.58 on Friday. The firm’s 50-day moving average price is $59.86 and its 200-day moving average price is $56.49. The company has a market cap of $6.27 billion, a P/E ratio of 16.35 and a beta of 0.73. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.72. DT Midstream, Inc. has a 52-week low of $45.10 and a 52-week high of $64.69.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Friday, February 16th. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.32. The business had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $235.19 million. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. During the same quarter last year, the company posted $0.93 earnings per share. As a group, equities analysts anticipate that DT Midstream, Inc. will post 3.95 EPS for the current fiscal year.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend was Friday, March 15th. This is an increase from DT Midstream’s previous quarterly dividend of $0.69. DT Midstream’s payout ratio is presently 74.43%.

DT Midstream Company 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.