Mackenzie Financial Corp Sells 1,008 Shares of DT Midstream, Inc. (NYSE:DTM)

Mackenzie Financial Corp decreased its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,444 shares of the company’s stock after selling 1,008 shares during the period. Mackenzie Financial Corp’s holdings in DT Midstream were worth $1,997,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in DT Midstream by 28.3% during the fourth quarter. Blue Trust Inc. now owns 992 shares of the company’s stock worth $53,000 after purchasing an additional 219 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in DT Midstream by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 42,616 shares of the company’s stock worth $2,255,000 after purchasing an additional 220 shares during the last quarter. Johnson Investment Counsel Inc. lifted its stake in DT Midstream by 0.8% during the third quarter. Johnson Investment Counsel Inc. now owns 31,870 shares of the company’s stock worth $1,687,000 after purchasing an additional 250 shares during the last quarter. CWA Asset Management Group LLC lifted its stake in DT Midstream by 7.5% during the third quarter. CWA Asset Management Group LLC now owns 4,418 shares of the company’s stock worth $234,000 after purchasing an additional 310 shares during the last quarter. Finally, Accurate Wealth Management LLC lifted its stake in DT Midstream by 8.3% during the third quarter. Accurate Wealth Management LLC now owns 4,288 shares of the company’s stock worth $240,000 after purchasing an additional 330 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of DT Midstream stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $56.87 per share, for a total transaction of $56,870.00. Following the acquisition, the director now owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

DT Midstream Stock Up 0.3 %

Shares of NYSE:DTM opened at $63.10 on Wednesday. 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 $6.13 billion, a PE ratio of 15.97 and a beta of 0.73. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.63 and a quick ratio of 0.63. The stock’s 50-day moving average is $59.37 and its 200 day moving average is $56.37.

DT Midstream (NYSE:DTM) last posted its earnings results 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 return on equity of 9.11% and a net margin of 41.65%. The firm had revenue of $244.00 million for the quarter, compared to the consensus estimate of $235.19 million. During the same quarter in the prior year, the business earned $0.93 EPS. Sell-side analysts anticipate that DT Midstream, Inc. will post 3.86 EPS for the current 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 issued a dividend of $0.735 per share. This is an increase from DT Midstream’s previous quarterly dividend of $0.69. The ex-dividend date was Friday, March 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.66%. DT Midstream’s dividend payout ratio is 74.43%.

Wall Street Analyst Weigh In

Several research firms have recently commented on DTM. Barclays lifted their price objective on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Wolfe Research upgraded DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Finally, Mizuho reiterated a “neutral” rating and issued a $57.00 price objective (down previously from $58.00) on shares of DT Midstream in a report on Friday, January 5th. Two investment 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. Based on data from MarketBeat.com, the stock presently has an average 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.