Invst LLC Trims Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Invst LLC trimmed its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 6.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,983 shares of the company’s stock after selling 789 shares during the quarter. Invst LLC’s holdings in DT Midstream were worth $841,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bright Rock Capital Management LLC bought a new stake in shares of DT Midstream during the first quarter valued at about $916,000. Prevail Innovative Wealth Advisors LLC lifted its stake in DT Midstream by 37.9% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company’s stock worth $2,316,000 after purchasing an additional 10,418 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in DT Midstream by 137.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock valued at $1,840,000 after purchasing an additional 17,437 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of DT Midstream during the 1st quarter valued at $1,085,000. Finally, Tortoise Index Solutions LLC increased its holdings in shares of DT Midstream by 12.9% in the fourth quarter. Tortoise Index Solutions LLC now owns 128,107 shares of the company’s stock worth $7,020,000 after purchasing an additional 14,598 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

DTM stock opened at $77.76 on Monday. The firm has a market cap of $7.55 billion, a P/E ratio of 18.97 and a beta of 0.74. The firm’s fifty day moving average is $75.67 and its 200 day moving average is $69.19. DT Midstream, Inc. has a 52 week low of $50.88 and a 52 week high of $79.73. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. The firm had revenue of $244.00 million for the quarter, compared to the consensus estimate of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same quarter in the previous year, the business earned $0.93 earnings per share. Research analysts predict that DT Midstream, Inc. will post 3.96 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a $0.735 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.78%. DT Midstream’s dividend payout ratio is currently 71.71%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Stifel Nicolaus lifted their price objective on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Citigroup lifted their price target on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Wells Fargo & Company upped their price objective 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. lifted their target price on shares of DT Midstream from $75.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Barclays increased their price target on shares of DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $70.75.

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.