Edgestream Partners L.P. Buys New Stake in DT Midstream, Inc. (NYSE:DTM)

Edgestream Partners L.P. bought a new stake in shares of DT Midstream, Inc. (NYSE:DTM) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 26,753 shares of the company’s stock, valued at approximately $1,326,000.

Several other institutional investors also recently bought and sold shares of DTM. Geneos Wealth Management Inc. purchased a new position in DT Midstream during the first quarter valued at $30,000. Nemes Rush Group LLC purchased a new position in shares of DT Midstream in the 2nd quarter worth $35,000. Massmutual Trust Co. FSB ADV grew its stake in shares of DT Midstream by 48.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 783 shares of the company’s stock worth $39,000 after buying an additional 254 shares in the last quarter. Chilton Capital Management LLC purchased a new position in shares of DT Midstream in the 1st quarter worth $39,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of DT Midstream in the 4th quarter worth $59,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Trading Up 0.6 %

Shares of DTM opened at $56.56 on Tuesday. DT Midstream, Inc. has a 1-year low of $45.10 and a 1-year high of $61.00. The company has a 50-day moving average of $54.25 and a 200 day moving average of $51.46. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 15.75 and a beta of 0.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.47 and a quick ratio of 0.47.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. DT Midstream had a net margin of 37.78% and a return on equity of 8.46%. The company had revenue of $234.00 million during the quarter, compared to analyst estimates of $226.76 million. During the same quarter last year, the business posted $0.90 EPS. On average, research analysts expect that DT Midstream, Inc. will post 3.58 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Monday, December 18th will be issued a $0.69 dividend. The ex-dividend date is Friday, December 15th. This represents a $2.76 annualized dividend and a dividend yield of 4.88%. DT Midstream’s dividend payout ratio is currently 76.88%.

Analyst Ratings Changes

A number of brokerages have commented on DTM. The Goldman Sachs Group began coverage on shares of DT Midstream in a research note on Thursday, October 5th. They issued a “sell” rating for the company. TheStreet raised shares of DT Midstream from a “d” rating to a “b-” rating in a research note on Wednesday, September 6th. Raymond James lifted their price target on shares of DT Midstream from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, October 19th. Stifel Nicolaus assumed coverage on shares of DT Midstream in a research note on Tuesday, October 3rd. They set a “buy” rating and a $60.00 price target for the company. Finally, Mizuho reaffirmed a “buy” rating and set a $58.00 price target on shares of DT Midstream in a research note on Friday, September 15th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $57.25.

About DT Midstream

DT Midstream, Inc provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. It develops, owns, and operates an integrated portfolio of interstate pipelines, intrastate pipelines, storage systems, lateral pipelines, gathering systems, related treatment plants, and compression and surface facilities.