Vestmark Advisory Solutions Inc. Has $616,000 Stake in DT Midstream, Inc. $DTM

Vestmark Advisory Solutions Inc. raised its position in DT Midstream, Inc. (NYSE:DTM) by 98.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 6,386 shares of the company’s stock after purchasing an additional 3,172 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in DT Midstream were worth $616,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sit Investment Associates Inc. raised its stake in shares of DT Midstream by 19.2% in the 1st quarter. Sit Investment Associates Inc. now owns 10,875 shares of the company’s stock valued at $1,049,000 after purchasing an additional 1,750 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of DT Midstream in the first quarter valued at about $81,000. Eagle Global Advisors LLC increased its position in shares of DT Midstream by 11.5% in the first quarter. Eagle Global Advisors LLC now owns 485,465 shares of the company’s stock valued at $46,838,000 after acquiring an additional 50,100 shares during the last quarter. Independent Advisor Alliance increased its position in shares of DT Midstream by 2.5% in the first quarter. Independent Advisor Alliance now owns 4,713 shares of the company’s stock valued at $455,000 after acquiring an additional 117 shares during the last quarter. Finally, Clean Energy Transition LLP acquired a new stake in shares of DT Midstream in the first quarter valued at about $16,966,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

Insider Activity

In other news, VP Melissa Cox sold 4,755 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $104.47, for a total transaction of $496,754.85. Following the completion of the sale, the vice president owned 5,171 shares in the company, valued at $540,214.37. The trade was a 47.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DTM. Stifel Nicolaus lifted their target price on DT Midstream from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, August 1st. US Capital Advisors downgraded DT Midstream from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 28th. Wells Fargo & Company lifted their target price on DT Midstream from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Morgan Stanley lifted their target price on DT Midstream from $113.00 to $118.00 and gave the company an “underweight” rating in a research report on Wednesday, August 6th. Finally, Barclays lifted their price target on DT Midstream from $102.00 to $103.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $110.91.

DT Midstream Trading Down 0.4%

DT Midstream stock opened at $103.33 on Monday. DT Midstream, Inc. has a 52 week low of $73.52 and a 52 week high of $114.50. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $10.50 billion, a P/E ratio of 27.70, a PEG ratio of 1.87 and a beta of 0.77. The stock has a 50-day simple moving average of $104.22 and a 200 day simple moving average of $100.44.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%. The company had revenue of $299.00 million during the quarter, compared to analysts’ expectations of $295.70 million. During the same quarter in the previous year, the company posted $0.98 earnings per share. Analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, September 15th. DT Midstream’s payout ratio is currently 87.94%.

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.