Conestoga Capital Advisors LLC Purchases 20,750 Shares of DT Midstream, Inc. $DTM

Conestoga Capital Advisors LLC increased its position in shares of DT Midstream, Inc. (NYSE:DTM) by 41.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,610 shares of the company’s stock after purchasing an additional 20,750 shares during the period. Conestoga Capital Advisors LLC owned approximately 0.07% of DT Midstream worth $8,436,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in DT Midstream by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 892,353 shares of the company’s stock worth $120,173,000 after purchasing an additional 3,689 shares during the period. Chickasaw Capital Management LLC lifted its holdings in shares of DT Midstream by 38.0% in the 3rd quarter. Chickasaw Capital Management LLC now owns 522,558 shares of the company’s stock valued at $62,430,000 after buying an additional 143,766 shares during the period. Energy Income Partners LLC lifted its holdings in shares of DT Midstream by 1.0% in the 1st quarter. Energy Income Partners LLC now owns 429,858 shares of the company’s stock valued at $57,889,000 after buying an additional 4,189 shares during the period. Recurrent Investment Advisors LLC boosted its stake in shares of DT Midstream by 0.4% in the first quarter. Recurrent Investment Advisors LLC now owns 355,156 shares of the company’s stock valued at $47,829,000 after buying an additional 1,370 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of DT Midstream by 5.7% in the first quarter. First Trust Advisors LP now owns 350,989 shares of the company’s stock valued at $47,268,000 after buying an additional 18,843 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Price Performance

DTM stock opened at $117.31 on Thursday. The firm has a 50 day moving average of $125.30 and a 200-day moving average of $134.65. The company has a market cap of $11.97 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 1.72 and a beta of 0.73. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.66. DT Midstream, Inc. has a 12-month low of $109.12 and a 12-month high of $152.88.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03. DT Midstream had a return on equity of 9.59% and a net margin of 35.36%. The business had revenue of $336.00 million for the quarter, compared to analysts’ expectations of $337.63 million. During the same quarter in the prior year, the firm posted $1.13 EPS. As a group, equities analysts expect that DT Midstream, Inc. will post 4.64 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, December 15th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, December 15th. DT Midstream’s payout ratio is presently 76.52%.

Analyst Ratings Changes

A number of brokerages recently weighed in on DTM. Bank of America reaffirmed a “buy” rating on shares of DT Midstream in a report on Monday, October 26th. The Goldman Sachs Group reissued a “sell” rating and issued a $121.00 target price on shares of DT Midstream in a report on Wednesday, October 14th. Morgan Stanley decreased their target price on shares of DT Midstream from $164.00 to $161.00 and set an “overweight” rating on the stock in a research report on Tuesday. Weiss Ratings lowered shares of DT Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, August 21st. Finally, Wells Fargo & Company upped their price target on shares of DT Midstream from $165.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.00.

DT Midstream Profile

DT Midstream, Inc (NYSE: DTM) is an independent North American energy company focused on the transportation, storage and gathering of natural gas. The company owns and operates interstate and intrastate pipeline systems, natural gas storage facilities, and gathering and processing infrastructure that connect producers with utilities, power generators, industrial customers and other energy markets.

DT Midstream’s operations are concentrated in the United States, including the Midwest, Northeast and Gulf Coast regions.