DT Midstream, Inc. (NYSE:DTM) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its position in shares of DT Midstream, Inc. (NYSE:DTM) by 11.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 20,401 shares of the company’s stock after selling 2,518 shares during the period. Raymond James & Associates’ holdings in DT Midstream were worth $1,118,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in DTM. SG Americas Securities LLC boosted its stake in DT Midstream by 101.3% during the 4th quarter. SG Americas Securities LLC now owns 6,618 shares of the company’s stock valued at $363,000 after acquiring an additional 3,330 shares during the last quarter. Chickasaw Capital Management LLC boosted its stake in DT Midstream by 0.4% during the 4th quarter. Chickasaw Capital Management LLC now owns 235,239 shares of the company’s stock valued at $12,891,000 after acquiring an additional 942 shares during the last quarter. Whittier Trust Co. boosted its stake in DT Midstream by 175.0% during the 4th quarter. Whittier Trust Co. now owns 1,672 shares of the company’s stock valued at $92,000 after acquiring an additional 1,064 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in DT Midstream by 12.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 127,797 shares of the company’s stock valued at $7,003,000 after acquiring an additional 14,288 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in DT Midstream by 93.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 33,110 shares of the company’s stock valued at $1,752,000 after acquiring an additional 16,015 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Trading Up 0.7 %

DT Midstream stock opened at $63.23 on Friday. The firm’s 50-day moving average is $58.94 and its 200-day moving average is $56.21. 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, Inc. has a 1 year low of $45.10 and a 1 year high of $64.19. The company has a market cap of $6.14 billion, a P/E ratio of 16.01 and a beta of 0.73.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Friday, February 16th. The company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.32. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. The business had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $235.19 million. During the same quarter last year, the company earned $0.93 EPS. On average, equities analysts expect that DT Midstream, Inc. will post 3.86 earnings per share for the current year.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 18th were issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date was Friday, March 15th. This is a boost from DT Midstream’s previous quarterly dividend of $0.69. DT Midstream’s dividend payout ratio (DPR) is 74.43%.

Insider Buying and Selling

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $56.87 per share, with a total value of $56,870.00. Following the acquisition, the director now directly owns 37,289 shares in the company, valued at $2,120,625.43. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

DTM has been the topic of a number of research analyst reports. Mizuho reiterated a “neutral” rating and set a $57.00 price objective (down from $58.00) on shares of DT Midstream in a research note on Friday, January 5th. Barclays raised their price target on shares of DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, Wolfe Research upgraded shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, DT Midstream presently has a consensus rating of “Hold” and an average target price of $58.50.

DT Midstream Company 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.