Mackenzie Financial Corp Has $2 Million Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Mackenzie Financial Corp lessened its position in DT Midstream, Inc. (NYSE:DTM) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,444 shares of the company’s stock after selling 1,008 shares during the quarter. Mackenzie Financial Corp’s holdings in DT Midstream were worth $1,997,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. increased its position in shares of DT Midstream by 192.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 947 shares of the company’s stock worth $50,000 after purchasing an additional 623 shares during the last quarter. Blue Trust Inc. increased its position in shares of DT Midstream by 28.3% during the 4th quarter. Blue Trust Inc. now owns 992 shares of the company’s stock worth $53,000 after purchasing an additional 219 shares during the last quarter. Larson Financial Group LLC increased its position in shares of DT Midstream by 32.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,720 shares of the company’s stock worth $91,000 after purchasing an additional 425 shares during the last quarter. Whittier Trust Co. increased its position in shares of DT Midstream by 175.0% during the 4th quarter. Whittier Trust Co. now owns 1,672 shares of the company’s stock worth $92,000 after purchasing an additional 1,064 shares during the last quarter. Finally, TIAA Trust National Association acquired a new position in shares of DT Midstream during the 3rd quarter worth approximately $203,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Performance

NYSE:DTM opened at $63.10 on Wednesday. The stock has a fifty day moving average price of $59.37 and a 200-day moving average price of $56.37. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 15.97 and a beta of 0.73. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63. DT Midstream, Inc. has a fifty-two week low of $45.10 and a fifty-two week high of $64.19.

DT Midstream (NYSE:DTM) last released its earnings results on Friday, February 16th. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.32. The firm had revenue of $244.00 million during the quarter, compared to the consensus estimate of $235.19 million. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. During the same period in the prior year, the company posted $0.93 EPS. As a group, equities analysts anticipate that DT Midstream, Inc. will post 3.86 EPS for the current fiscal year.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.66%. This is an increase from DT Midstream’s previous quarterly dividend of $0.69. The ex-dividend date was Friday, March 15th. DT Midstream’s dividend payout ratio is presently 74.43%.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction dated Monday, February 26th. The stock was bought at an average price of $56.87 per share, with a total value of $56,870.00. Following the acquisition, the director now owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

DTM has been the topic of several recent analyst reports. Wolfe Research raised DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Mizuho reissued a “neutral” rating and set a $57.00 target price (down from $58.00) on shares of DT Midstream in a report on Friday, January 5th. Finally, Barclays boosted their target price on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, DT Midstream presently has a consensus rating of “Hold” and a consensus price target of $58.50.

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.