DT Midstream, Inc. (NYSE:DTM) Shares Acquired by Macquarie Group Ltd.

Posted by on Mar 7th, 2023

Macquarie Group Ltd. boosted its stake in shares of DT Midstream, Inc. (NYSE:DTM – Get Rating) by 19.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,248 shares of the company’s stock after purchasing an additional 31,137 shares during the quarter. Macquarie Group Ltd. owned approximately 0.19% of DT Midstream worth $9,742,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC grew its holdings in DT Midstream by 7.3% in the 3rd quarter. Princeton Global Asset Management LLC now owns 2,923 shares of the company’s stock worth $152,000 after buying an additional 200 shares in the last quarter. American Century Companies Inc. increased its stake in DT Midstream by 5.0% in the 1st quarter. American Century Companies Inc. now owns 5,889 shares of the company’s stock worth $320,000 after purchasing an additional 278 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of DT Midstream by 1.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 28,262 shares of the company’s stock valued at $1,467,000 after purchasing an additional 295 shares in the last quarter. Gradient Investments LLC grew its holdings in shares of DT Midstream by 20.7% during the 3rd quarter. Gradient Investments LLC now owns 1,749 shares of the company’s stock valued at $91,000 after acquiring an additional 300 shares in the last quarter. Finally, Avitas Wealth Management LLC grew its stake in DT Midstream by 0.6% in the third quarter. Avitas Wealth Management LLC now owns 53,999 shares of the company’s stock valued at $2,802,000 after purchasing an additional 315 shares in the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.

DT Midstream Trading Down 1.9 %

NYSE DTM opened at $50.80 on Tuesday. DT Midstream, Inc. has a 12 month low of $45.58 and a 12 month high of $61.12. The stock has a 50-day simple moving average of $53.43 and a 200 day simple moving average of $55.52. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $4.92 billion, a PE ratio of 13.33 and a beta of 0.80.

DT Midstream (NYSE:DTM – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The company reported $0.93 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.02). DT Midstream had a return on equity of 8.27% and a net margin of 40.22%. The firm had revenue of $243.00 million for the quarter, compared to the consensus estimate of $238.07 million. During the same period in the previous year, the business earned $0.89 EPS. Research analysts forecast that DT Midstream, Inc. will post 3.58 EPS for the current year.

DT Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, April 15th. Investors of record on Monday, March 20th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 5.43%. The ex-dividend date of this dividend is Friday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.64. DT Midstream’s dividend payout ratio (DPR) is presently 67.19%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Citigroup upgraded DT Midstream from a “sell” rating to a “neutral” rating and set a $54.00 price target for the company in a research note on Thursday, February 23rd. Mizuho upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and cut their price target for the stock from $60.00 to $59.00 in a research note on Thursday, March 2nd. Wolfe Research lowered shares of DT Midstream from an “outperform” rating to a “peer perform” rating in a report on Wednesday, November 16th. Wells Fargo & Company dropped their price target on DT Midstream from $62.00 to $55.00 in a report on Monday, February 20th. Finally, Barclays decreased their price target on shares of DT Midstream from $67.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $59.00.

DT Midstream Company Profile

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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.

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Institutional Ownership by Quarter for DT Midstream (NYSE:DTM)

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