DT Midstream, Inc. (NYSE:DTM) Shares Sold by Invst LLC

Invst LLC decreased its position in DT Midstream, Inc. (NYSE:DTM) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,752 shares of the company’s stock after selling 231 shares during the period. Invst LLC’s holdings in DT Midstream were worth $924,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DTM. Cetera Advisors LLC acquired a new position in shares of DT Midstream during the 1st quarter worth $216,000. QRG Capital Management Inc. acquired a new stake in shares of DT Midstream during the 2nd quarter valued at approximately $220,000. SG Americas Securities LLC purchased a new stake in shares of DT Midstream during the 2nd quarter worth approximately $252,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of DT Midstream by 20.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,572 shares of the company’s stock worth $609,000 after acquiring an additional 1,464 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of DT Midstream in the 2nd quarter worth approximately $234,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Down 0.3 %

Shares of NYSE DTM opened at $98.32 on Wednesday. The firm’s 50 day moving average price is $94.43 and its 200 day moving average price is $80.54. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $9.55 billion, a P/E ratio of 23.92 and a beta of 0.77. DT Midstream, Inc. has a 1 year low of $51.17 and a 1 year high of $109.85.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). The business had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter last year, the business earned $0.94 EPS. As a group, sell-side analysts anticipate that DT Midstream, Inc. will post 3.84 earnings per share for the current year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.99%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is 71.53%.

Analysts Set New Price Targets

DTM has been the subject of a number of research analyst reports. Barclays raised their price target on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Morgan Stanley raised their target price on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Stifel Nicolaus downgraded shares of DT Midstream from a “buy” rating to a “hold” rating and upped their price target for the company from $78.00 to $89.00 in a report on Wednesday, October 30th. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and increased their price target for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. lifted their price objective on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $84.78.

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.