Malaga Cove Capital LLC Takes Position in DT Midstream, Inc. (NYSE:DTM)

Malaga Cove Capital LLC bought a new position in shares of DT Midstream, Inc. (NYSE:DTM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,959 shares of the company’s stock, valued at approximately $210,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new position in DT Midstream during the 2nd quarter worth approximately $26,000. First Command Advisory Services Inc. acquired a new position in shares of DT Midstream during the second quarter worth $31,000. American National Bank increased its holdings in DT Midstream by 100.0% in the second quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after buying an additional 234 shares during the last quarter. Mather Group LLC. acquired a new stake in DT Midstream in the first quarter valued at $29,000. Finally, ICA Group Wealth Management LLC purchased a new stake in DT Midstream during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Trading Down 0.6 %

Shares of DT Midstream stock opened at $74.70 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $7.25 billion, a P/E ratio of 18.22 and a beta of 0.74. DT Midstream, Inc. has a 1 year low of $50.88 and a 1 year high of $78.83. The company’s fifty day moving average is $73.86 and its two-hundred day moving average is $67.27.

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, topping analysts’ consensus estimates of $0.92 by $0.06. The firm had revenue of $244.00 million for 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 company posted $0.93 earnings per share. Analysts forecast that DT Midstream, Inc. will post 3.96 earnings per share for the current year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Monday, September 16th. DT Midstream’s dividend payout ratio (DPR) is presently 71.71%.

Analyst Upgrades and Downgrades

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