Aventail Capital Group LP Sells 587,116 Shares of DT Midstream, Inc. $DTM

Aventail Capital Group LP reduced its position in shares of DT Midstream, Inc. (NYSE:DTM) by 83.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 113,086 shares of the company’s stock after selling 587,116 shares during the quarter. Aventail Capital Group LP’s holdings in DT Midstream were worth $12,786,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in DTM. Vanguard Group Inc. increased its position in DT Midstream by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 11,351,778 shares of the company’s stock worth $1,247,674,000 after buying an additional 176,813 shares during the period. 59 North Capital Management LP lifted its holdings in shares of DT Midstream by 49.0% during the third quarter. 59 North Capital Management LP now owns 3,074,081 shares of the company’s stock worth $347,556,000 after buying an additional 1,010,965 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of DT Midstream by 3.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,668,447 shares of the company’s stock valued at $301,695,000 after acquiring an additional 99,602 shares during the period. Invesco Ltd. boosted its position in shares of DT Midstream by 15.4% in the second quarter. Invesco Ltd. now owns 1,664,052 shares of the company’s stock valued at $182,896,000 after acquiring an additional 222,586 shares during the period. Finally, Norges Bank acquired a new position in shares of DT Midstream in the second quarter valued at about $143,743,000. 81.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on DTM shares. Stifel Nicolaus set a $137.00 price objective on shares of DT Midstream and gave the stock a “hold” rating in a research note on Monday, February 23rd. Bank of America increased their target price on shares of DT Midstream from $118.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Morgan Stanley raised their target price on shares of DT Midstream from $137.00 to $139.00 and gave the stock an “underweight” rating in a report on Tuesday, February 10th. Jefferies Financial Group set a $148.00 price target on shares of DT Midstream and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Citigroup boosted their price target on DT Midstream from $130.00 to $156.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $141.00.

Insider Activity at DT Midstream

In related news, CFO Jeffrey A. Jewell bought 185 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was purchased at an average price of $136.33 per share, with a total value of $25,221.05. Following the completion of the acquisition, the chief financial officer owned 89,583 shares of the company’s stock, valued at $12,212,850.39. The trade was a 0.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.

DT Midstream Trading Up 1.4%

Shares of DTM opened at $137.58 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. DT Midstream, Inc. has a 52-week low of $83.30 and a 52-week high of $143.67. The firm has a market cap of $14.00 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 2.83 and a beta of 0.75. The business’s fifty day moving average is $129.16 and its 200-day moving average is $118.68.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Thursday, February 19th. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.03). The business had revenue of $317.00 million for the quarter, compared to the consensus estimate of $320.07 million. DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.During the same quarter in the prior year, the company earned $0.94 earnings per share. Equities analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Monday, March 16th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 annualized dividend and a yield of 2.6%. DT Midstream’s payout ratio is presently 76.10%.

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.