Mutual of America Capital Management LLC Reduces Position in DT Midstream, Inc. (NYSE:DTM)

Mutual of America Capital Management LLC trimmed its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 4.9% during the fourth quarter, Holdings Channel reports. The fund owned 59,881 shares of the company’s stock after selling 3,114 shares during the quarter. Mutual of America Capital Management LLC’s holdings in DT Midstream were worth $3,281,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in DT Midstream by 1.4% in the first quarter. BlackRock Inc. now owns 10,859,987 shares of the company’s stock valued at $536,158,000 after buying an additional 152,318 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of DT Midstream by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,763,732 shares of the company’s stock worth $529,780,000 after buying an additional 99,072 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of DT Midstream by 7.0% during the second quarter. Goldman Sachs Group Inc. now owns 3,598,848 shares of the company’s stock worth $178,395,000 after buying an additional 234,952 shares during the period. State Street Corp boosted its position in shares of DT Midstream by 2.1% during the first quarter. State Street Corp now owns 2,968,352 shares of the company’s stock worth $148,580,000 after buying an additional 59,731 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of DT Midstream by 19.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,022,319 shares of the company’s stock worth $99,839,000 after buying an additional 333,229 shares during the period. 81.53% of the stock is owned by institutional investors.

DT Midstream Price Performance

NYSE DTM opened at $62.51 on Thursday. The stock has a market capitalization of $6.07 billion, a P/E ratio of 15.83 and a beta of 0.73. DT Midstream, Inc. has a 1 year low of $45.10 and a 1 year high of $64.19. The business’s fifty day moving average is $58.49 and its two-hundred day moving average is $56.05. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Friday, February 16th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.32. The company had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $235.19 million. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. During the same quarter in the prior year, the company earned $0.93 earnings per share. On average, research analysts forecast that DT Midstream, Inc. will post 3.85 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were paid a dividend of $0.735 per share. This is an increase from DT Midstream’s previous quarterly dividend of $0.69. This represents a $2.94 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend was Friday, March 15th. DT Midstream’s payout ratio is 74.43%.

Insider Buying and Selling at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $56.87 per share, with a total value of $56,870.00. Following the purchase, the director now directly owns 37,289 shares in the company, valued at $2,120,625.43. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

DTM has been the topic of several recent analyst reports. Wolfe Research raised DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Barclays boosted their target price on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, Mizuho reissued a “neutral” rating and set a $57.00 target price (down previously from $58.00) on shares of DT Midstream in a report on Friday, January 5th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $58.57.

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.