DT Midstream, Inc. $DTM Stock Purchased by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC raised its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 41.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 70,610 shares of the company’s stock after purchasing an additional 20,750 shares during the period. Conestoga Capital Advisors LLC’s holdings in DT Midstream were worth $8,436,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DTM. Bank of New York Mellon Corp lifted its holdings in shares of DT Midstream by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 892,353 shares of the company’s stock valued at $120,173,000 after purchasing an additional 3,689 shares in the last quarter. Chickasaw Capital Management LLC grew its position in shares of DT Midstream by 38.0% in the third quarter. Chickasaw Capital Management LLC now owns 522,558 shares of the company’s stock valued at $62,430,000 after purchasing an additional 143,766 shares during the last quarter. Energy Income Partners LLC grew its position in shares of DT Midstream by 1.0% in the first quarter. Energy Income Partners LLC now owns 429,858 shares of the company’s stock valued at $57,889,000 after purchasing an additional 4,189 shares during the last quarter. Recurrent Investment Advisors LLC grew its holdings in DT Midstream by 0.4% during the 1st quarter. Recurrent Investment Advisors LLC now owns 355,156 shares of the company’s stock valued at $47,829,000 after buying an additional 1,370 shares during the last quarter. Finally, First Trust Advisors LP increased its position in DT Midstream by 5.7% during the 1st quarter. First Trust Advisors LP now owns 350,989 shares of the company’s stock worth $47,268,000 after purchasing an additional 18,843 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Mizuho lowered their price objective on DT Midstream from $153.00 to $147.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $150.00 price objective on shares of DT Midstream in a research note on Thursday, October 15th. Morgan Stanley dropped their target price on shares of DT Midstream from $164.00 to $161.00 and set an “overweight” rating for the company in a research report on Tuesday. Scotiabank cut their price target on shares of DT Midstream from $165.00 to $161.00 and set a “sector outperform” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company lifted their price target on shares of DT Midstream from $165.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $151.00.

DT Midstream Stock Down 4.3%

Shares of DT Midstream stock opened at $117.31 on Thursday. DT Midstream, Inc. has a twelve month low of $109.12 and a twelve month high of $152.88. The stock has a market cap of $11.97 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 1.72 and a beta of 0.73. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average price of $125.30 and a 200 day moving average price of $134.65.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03. The company had revenue of $336.00 million for the quarter, compared to analysts’ expectations of $337.63 million. DT Midstream had a return on equity of 9.59% and a net margin of 35.36%. During the same quarter in the previous year, the firm posted $1.13 earnings per share. Equities research analysts forecast that DT Midstream, Inc. will post 4.64 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Tuesday, December 15th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, December 15th. DT Midstream’s dividend payout ratio (DPR) is presently 76.52%.

About DT Midstream

DT Midstream, Inc (NYSE: DTM) is an independent North American energy company focused on the transportation, storage and gathering of natural gas. The company owns and operates interstate and intrastate pipeline systems, natural gas storage facilities, and gathering and processing infrastructure that connect producers with utilities, power generators, industrial customers and other energy markets.

DT Midstream’s operations are concentrated in the United States, including the Midwest, Northeast and Gulf Coast regions.