LSV Asset Management Cuts Stake in DT Midstream, Inc. (NYSE:DTM)

LSV Asset Management reduced its position in DT Midstream, Inc. (NYSE:DTM) by 12.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 168,582 shares of the company’s stock after selling 23,779 shares during the quarter. LSV Asset Management owned about 0.17% of DT Midstream worth $9,238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Natixis Advisors L.P. grew its holdings in shares of DT Midstream by 29.0% during the fourth quarter. Natixis Advisors L.P. now owns 17,156 shares of the company’s stock valued at $940,000 after buying an additional 3,861 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of DT Midstream by 17.1% during the fourth quarter. Victory Capital Management Inc. now owns 24,300 shares of the company’s stock valued at $1,332,000 after buying an additional 3,545 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of DT Midstream by 1.7% during the fourth quarter. Van ECK Associates Corp now owns 30,967 shares of the company’s stock valued at $1,697,000 after buying an additional 507 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of DT Midstream during the fourth quarter valued at $25,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of DT Midstream in the 4th quarter valued at $614,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Mizuho upped 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. Wolfe Research upgraded DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. US Capital Advisors downgraded DT Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Finally, Barclays raised their price objective on shares of DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $61.50.

DT Midstream Stock Performance

Shares of NYSE:DTM opened at $64.06 on Wednesday. The business’s 50 day moving average price is $60.82 and its 200-day moving average price is $56.90. DT Midstream, Inc. has a 1 year low of $45.20 and a 1 year high of $64.69. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $6.22 billion, a PE ratio of 15.62 and a beta of 0.72.

DT Midstream (NYSE:DTM) last released its earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $240.00 million during the quarter, compared to analyst estimates of $242.62 million. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. During the same quarter in the prior year, the firm earned $0.84 earnings per share. As a group, equities research analysts expect that DT Midstream, Inc. will post 3.93 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Friday, June 14th. DT Midstream’s dividend payout ratio (DPR) is 71.71%.

Insider Transactions at DT Midstream

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $56.87 per share, with a total value of $56,870.00. Following the purchase, the director now directly owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Jeffrey A. Jewell acquired 400 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $62.80 per share, with a total value of $25,120.00. Following the transaction, the chief financial officer now owns 44,285 shares of the company’s stock, valued at approximately $2,781,098. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the purchase, the director now directly owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

DT Midstream 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.