Envestnet Asset Management Inc. Buys 16,171 Shares of DT Midstream, Inc. (NYSE:DTM)

Envestnet Asset Management Inc. lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 15.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,876 shares of the company’s stock after purchasing an additional 16,171 shares during the quarter. Envestnet Asset Management Inc. owned 0.13% of DT Midstream worth $8,657,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in DTM. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of DT Midstream by 1.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company’s stock valued at $144,398,000 after buying an additional 37,463 shares during the last quarter. First Trust Advisors LP increased its position in shares of DT Midstream by 284.6% in the fourth quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock worth $83,537,000 after purchasing an additional 1,128,056 shares during the period. Bank of New York Mellon Corp increased its holdings in DT Midstream by 3.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock valued at $82,870,000 after buying an additional 38,305 shares during the period. Tortoise Capital Advisors L.L.C. raised its position in DT Midstream by 6.3% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock valued at $72,737,000 after purchasing an additional 60,370 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of DT Midstream by 14.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 809,126 shares of the company’s stock worth $49,438,000 after acquiring an additional 99,755 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Down 0.7 %

NYSE DTM opened at $77.73 on Friday. DT Midstream, Inc. has a twelve month low of $50.88 and a twelve month high of $79.73. The firm has a market capitalization of $7.55 billion, a PE ratio of 18.96 and a beta of 0.74. The stock’s 50 day moving average is $75.67 and its 200 day moving average is $69.04. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The business had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same period in the previous year, the company posted $0.93 EPS. Research analysts forecast that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Monday, September 16th. DT Midstream’s payout ratio is 71.71%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of DT Midstream from $75.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price objective on shares of DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Citigroup upped their target price on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Barclays raised their price target on shares of DT Midstream from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Finally, Stifel Nicolaus boosted their target price on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $70.75.

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.