Mirae Asset Global Investments Co. Ltd. Has $49.44 Million Holdings in DT Midstream, Inc. (NYSE:DTM)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of DT Midstream, Inc. (NYSE:DTM) by 14.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 809,126 shares of the company’s stock after buying an additional 99,755 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.83% of DT Midstream worth $49,438,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. bought a new position in DT Midstream in the fourth quarter valued at approximately $25,000. HHM Wealth Advisors LLC bought a new position in shares of DT Midstream in the 4th quarter valued at $25,000. Mather Group LLC. acquired a new position in shares of DT Midstream during the 1st quarter worth $29,000. ICA Group Wealth Management LLC bought a new stake in shares of DT Midstream during the 4th quarter worth $32,000. Finally, Burkett Financial Services LLC acquired a new stake in DT Midstream in the fourth quarter valued at about $42,000. 81.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DTM has been the subject of a number of research reports. Wells Fargo & Company raised shares of DT Midstream from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $62.00 to $77.00 in a report on Tuesday, June 4th. Mizuho boosted their target price on shares of DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. US Capital Advisors cut DT Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Barclays boosted their price objective on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, Stifel Nicolaus increased their target price on DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, DT Midstream has a consensus rating of “Hold” and a consensus price target of $63.71.

Insiders Place Their Bets

In other news, CFO Jeffrey A. Jewell purchased 400 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were acquired at an average price of $62.80 per share, for a total transaction of $25,120.00. Following the completion of the acquisition, the chief financial officer now owns 44,285 shares in the company, valued at $2,781,098. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

DT Midstream Trading Down 0.7 %

Shares of NYSE DTM traded down $0.50 during midday trading on Friday, reaching $69.69. The stock had a trading volume of 870,106 shares, compared to its average volume of 526,796. DT Midstream, Inc. has a twelve month low of $49.06 and a twelve month high of $71.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.71. The company’s 50 day moving average price is $67.21 and its 200 day moving average price is $60.63. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 17.00 and a beta of 0.74.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. The business had revenue of $240.00 million for the quarter, compared to analysts’ expectations of $242.62 million. During the same quarter in the prior year, the firm posted $0.84 earnings per share. As a group, sell-side analysts expect that DT Midstream, Inc. will post 3.94 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Monday, June 17th. DT Midstream’s dividend payout ratio (DPR) is presently 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.