Fifth Third Bancorp Buys 632 Shares of DT Midstream, Inc. (NYSE:DTM)

Fifth Third Bancorp increased its stake in DT Midstream, Inc. (NYSE:DTM) by 30.2% during the second quarter, Holdings Channel reports. The firm owned 2,725 shares of the company’s stock after acquiring an additional 632 shares during the period. Fifth Third Bancorp’s holdings in DT Midstream were worth $194,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in DT Midstream in the 4th quarter valued at about $815,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of DT Midstream by 6.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,214 shares of the company’s stock worth $1,163,000 after acquiring an additional 1,202 shares in the last quarter. Signaturefd LLC increased its stake in DT Midstream by 28.7% in the fourth quarter. Signaturefd LLC now owns 2,065 shares of the company’s stock valued at $113,000 after acquiring an additional 461 shares during the last quarter. CWM LLC raised its position in DT Midstream by 14.9% during the fourth quarter. CWM LLC now owns 3,084 shares of the company’s stock valued at $169,000 after purchasing an additional 401 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in DT Midstream during the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on DTM. Barclays lifted their price target on DT Midstream from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Mizuho boosted their target price on 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 shares of DT Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $75.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company increased 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $70.00.

DT Midstream Stock Performance

DT Midstream stock opened at $76.57 on Friday. The business has a 50 day moving average of $72.31 and a 200-day moving average of $65.29. The company has a market capitalization of $7.44 billion, a P/E ratio of 18.68 and a beta of 0.74. DT Midstream, Inc. has a 1 year low of $50.54 and a 1 year high of $76.78. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.71.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.06. The firm had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same period in the prior year, the company posted $0.93 EPS. On average, equities research analysts predict that DT Midstream, Inc. will post 3.9 earnings per share for the current year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Monday, September 16th. DT Midstream’s payout ratio is presently 71.71%.

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.