Tower Research Capital LLC TRC Has $222,000 Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Tower Research Capital LLC TRC cut its holdings in shares of DT Midstream, Inc. (NYSE:DTM – Get Rating) by 38.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,280 shares of the company’s stock after selling 2,672 shares during the period. Tower Research Capital LLC TRC’s holdings in DT Midstream were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Natixis acquired a new position in shares of DT Midstream during the second quarter worth about $29,548,000. First Trust Advisors LP boosted its position in DT Midstream by 129.8% during the 1st quarter. First Trust Advisors LP now owns 971,324 shares of the company’s stock worth $52,704,000 after acquiring an additional 548,645 shares during the last quarter. Capital Research Global Investors grew its stake in shares of DT Midstream by 43.6% during the 1st quarter. Capital Research Global Investors now owns 1,540,502 shares of the company’s stock worth $83,588,000 after acquiring an additional 467,413 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of DT Midstream by 87.1% in the second quarter. Point72 Asset Management L.P. now owns 867,241 shares of the company’s stock valued at $42,512,000 after purchasing an additional 403,835 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of DT Midstream by 67.1% in the first quarter. Dimensional Fund Advisors LP now owns 887,019 shares of the company’s stock worth $48,129,000 after purchasing an additional 356,227 shares in the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DTM. Citigroup upgraded shares of DT Midstream from a “sell” rating to a “neutral” rating and set a $54.00 price target on the stock in a research note on Thursday, February 23rd. Barclays reduced their price target on DT Midstream from $67.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, January 18th. Wells Fargo & Company lowered their price target on DT Midstream from $62.00 to $55.00 in a research report on Monday, February 20th. TheStreet downgraded DT Midstream from a “c” rating to a “d” rating in a report on Wednesday, February 22nd. Finally, Mizuho upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $60.00 to $59.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $59.00.

DT Midstream Stock Up 2.0 %

DTM opened at $51.76 on Monday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.74. The stock’s fifty day simple moving average is $53.52 and its 200 day simple moving average is $55.56. DT Midstream, Inc. has a 1-year low of $45.58 and a 1-year high of $61.12. The stock has a market cap of $5.02 billion, a PE ratio of 13.59 and a beta of 0.80.

DT Midstream (NYSE:DTM – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The company reported $0.93 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.02). DT Midstream had a net margin of 40.22% and a return on equity of 8.27%. The company had revenue of $243.00 million during the quarter, compared to the consensus estimate of $238.07 million. During the same period in the prior year, the company earned $0.89 earnings per share. As a group, research analysts expect that DT Midstream, Inc. will post 3.58 earnings per share for the current year.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, April 15th. Stockholders of record on Monday, March 20th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date is Friday, March 17th. This is a boost from DT Midstream’s previous quarterly dividend of $0.64. DT Midstream’s payout ratio is presently 67.19%.

About DT Midstream

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DT Midstream, Inc provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. It develops, owns, and operates an integrated portfolio of interstate pipelines, intrastate pipelines, storage systems, lateral pipelines, gathering systems, related treatment plants, and compression and surface facilities.