American International Group Inc. Reduces Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

American International Group Inc. decreased its stake in DT Midstream, Inc. (NYSE:DTMFree Report) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 130,893 shares of the company’s stock after selling 5,633 shares during the quarter. American International Group Inc. owned about 0.13% of DT Midstream worth $7,173,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DTM. Swiss National Bank boosted its holdings in shares of DT Midstream by 0.9% in the 3rd quarter. Swiss National Bank now owns 213,000 shares of the company’s stock worth $11,272,000 after purchasing an additional 2,000 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of DT Midstream by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 797,414 shares of the company’s stock worth $42,199,000 after purchasing an additional 49,242 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of DT Midstream by 6.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 18,670 shares of the company’s stock worth $988,000 after purchasing an additional 1,087 shares during the period. Pathstone Family Office LLC purchased a new position in shares of DT Midstream in the 3rd quarter worth approximately $210,000. Finally, HighTower Advisors LLC boosted its holdings in DT Midstream by 1.7% during the 3rd quarter. HighTower Advisors LLC now owns 32,987 shares of the company’s stock valued at $1,753,000 after acquiring an additional 556 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Insider Transactions at DT Midstream

In related news, CFO Jeffrey A. Jewell purchased 400 shares of DT Midstream stock in a transaction dated Friday, May 3rd. The stock was purchased at an average cost of $62.80 per share, with a total value of $25,120.00. Following the transaction, the chief financial officer now owns 44,285 shares in the company, valued at approximately $2,781,098. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.

DT Midstream Trading Up 0.9 %

Shares of NYSE DTM opened at $68.93 on Tuesday. The firm has a market cap of $6.69 billion, a PE ratio of 16.81 and a beta of 0.73. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.71. DT Midstream, Inc. has a twelve month low of $46.36 and a twelve month high of $69.21. The business has a fifty day simple moving average of $64.74 and a two-hundred day simple moving average of $58.87.

DT Midstream (NYSE:DTMGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. The firm had revenue of $240.00 million during the quarter, compared to analyst estimates of $242.62 million. DT Midstream had a return on equity of 9.41% and a net margin of 42.46%. During the same period in the previous year, the company posted $0.84 EPS. Analysts expect that DT Midstream, Inc. will post 3.94 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Monday, June 17th. DT Midstream’s payout ratio is 71.71%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Stifel Nicolaus boosted their price objective on DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Mizuho boosted their price objective on DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Barclays boosted their price objective on DT Midstream from $59.00 to $66.00 and gave the company 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, Wells Fargo & Company upgraded DT Midstream from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $62.00 to $77.00 in a report on Tuesday, June 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.71.

View Our Latest Report on DT Midstream

DT Midstream Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for DT Midstream (NYSE:DTM)

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