Edgestream Partners L.P. Raises Holdings in DT Midstream, Inc. $DTM

Edgestream Partners L.P. boosted its position in DT Midstream, Inc. (NYSE:DTM) by 1,501.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 103,683 shares of the company’s stock after purchasing an additional 97,209 shares during the quarter. DT Midstream comprises approximately 0.5% of Edgestream Partners L.P.’s investment portfolio, making the stock its 12th largest position. Edgestream Partners L.P.’s holdings in DT Midstream were worth $13,963,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewEdge Wealth LLC boosted its stake in DT Midstream by 2.4% during the 4th quarter. NewEdge Wealth LLC now owns 3,613 shares of the company’s stock worth $432,000 after purchasing an additional 85 shares during the last quarter. Covestor Ltd raised its position in shares of DT Midstream by 11.2% in the fourth quarter. Covestor Ltd now owns 897 shares of the company’s stock valued at $107,000 after buying an additional 90 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in shares of DT Midstream by 62.7% in the fourth quarter. Richardson Financial Services Inc. now owns 244 shares of the company’s stock worth $29,000 after buying an additional 94 shares in the last quarter. VestGen Investment Management lifted its stake in shares of DT Midstream by 1.2% in the fourth quarter. VestGen Investment Management now owns 7,698 shares of the company’s stock worth $921,000 after buying an additional 94 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its stake in shares of DT Midstream by 0.3% in the third quarter. Pathstone Holdings LLC now owns 28,322 shares of the company’s stock worth $3,215,000 after buying an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of DT Midstream from $141.00 to $143.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Scotiabank initiated coverage on DT Midstream in a research report on Tuesday, May 26th. They issued an “outperform” rating and a $176.00 price target for the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $158.00 price target on shares of DT Midstream in a report on Thursday, April 30th. Wall Street Zen upgraded DT Midstream from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Mizuho boosted their price objective on DT Midstream from $129.00 to $153.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, DT Midstream has an average rating of “Moderate Buy” and an average price target of $155.69.

DT Midstream Stock Performance

NYSE:DTM opened at $135.79 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $13.85 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 3.00 and a beta of 0.71. The company’s 50-day moving average is $144.30 and its two-hundred day moving average is $137.67. DT Midstream, Inc. has a 1-year low of $99.81 and a 1-year high of $152.88.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.16. The business had revenue of $336.00 million during the quarter, compared to analysts’ expectations of $313.65 million. DT Midstream had a net margin of 36.28% and a return on equity of 9.53%. During the same quarter in the prior year, the company posted $1.06 EPS. Analysts forecast that DT Midstream, Inc. will post 4.77 EPS for the current year.

About DT Midstream

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.