Wedge Capital Management L L P NC Has $1.29 Million Stock Position in DT Midstream, Inc. (NYSE:DTM)

Wedge Capital Management L L P NC reduced its position in DT Midstream, Inc. (NYSE:DTM) by 33.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,455 shares of the company’s stock after selling 8,322 shares during the quarter. Wedge Capital Management L L P NC’s holdings in DT Midstream were worth $1,294,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Bright Rock Capital Management LLC acquired a new position in DT Midstream in the first quarter worth approximately $916,000. Prevail Innovative Wealth Advisors LLC grew its position in DT Midstream by 37.9% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company’s stock worth $2,316,000 after acquiring an additional 10,418 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in DT Midstream by 137.6% in the first quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock worth $1,840,000 after acquiring an additional 17,437 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in DT Midstream in the first quarter worth approximately $1,085,000. Finally, Cetera Investment Advisers grew its position in DT Midstream by 1,223.2% in the first quarter. Cetera Investment Advisers now owns 54,107 shares of the company’s stock worth $3,306,000 after acquiring an additional 50,018 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DTM has been the subject of several recent research reports. Barclays boosted their target price on shares of DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Wells Fargo & Company boosted their target price on shares of DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Citigroup boosted their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus boosted their price objective on shares of DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.00.

DT Midstream Price Performance

NYSE:DTM opened at $86.52 on Thursday. The stock has a market cap of $8.40 billion, a P/E ratio of 21.10 and a beta of 0.74. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $87.44. The company has a fifty day moving average price of $78.15 and a 200 day moving average price of $71.33. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84.

DT Midstream (NYSE:DTM) last released its earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. The firm had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same period in the prior year, the company earned $0.93 EPS. Analysts anticipate that DT Midstream, Inc. will post 3.99 earnings per share for the current year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 16th were paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 3.40%. The ex-dividend date was Monday, September 16th. DT Midstream’s payout ratio is currently 71.71%.

About DT Midstream

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.