Qsemble Capital Management LP Boosts Stake in DT Midstream, Inc. (NYSE:DTM)

Qsemble Capital Management LP grew its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 426.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 25,100 shares of the company’s stock after acquiring an additional 20,334 shares during the quarter. Qsemble Capital Management LP’s holdings in DT Midstream were worth $1,783,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP increased its position in DT Midstream by 284.6% during the 4th 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 in the last quarter. Norges Bank acquired a new position in shares of DT Midstream in the fourth quarter valued at approximately $61,638,000. Dimensional Fund Advisors LP lifted its stake in shares of DT Midstream by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock valued at $186,407,000 after buying an additional 266,433 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in DT Midstream by 14.1% during 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. Finally, Los Angeles Capital Management LLC purchased a new stake in DT Midstream in the 2nd quarter worth approximately $6,309,000. 81.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DTM. Barclays increased their price target on DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Stifel Nicolaus boosted their target price on shares of DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target 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 boosted 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. Finally, Citigroup increased their target price on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $70.75.

DT Midstream Stock Down 0.4 %

Shares of NYSE DTM opened at $74.49 on Thursday. The stock has a fifty day moving average price of $74.05 and a 200 day moving average price of $67.44. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. DT Midstream, Inc. has a 12-month low of $50.88 and a 12-month high of $78.83. The company has a market cap of $7.23 billion, a P/E ratio of 18.17 and a beta of 0.74.

DT Midstream (NYSE:DTM) last posted its 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 analyst estimates of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same quarter last year, the firm earned $0.93 earnings per share. Research analysts anticipate that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.95%. DT Midstream’s payout ratio is currently 71.71%.

About DT Midstream

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.