Commonwealth Equity Services LLC Sells 401 Shares of DT Midstream, Inc. (NYSE:DTM)

Commonwealth Equity Services LLC trimmed its position in DT Midstream, Inc. (NYSE:DTMFree Report) by 1.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 38,463 shares of the company’s stock after selling 401 shares during the period. Commonwealth Equity Services LLC’s holdings in DT Midstream were worth $2,350,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bright Rock Capital Management LLC bought a new stake in DT Midstream in the 1st quarter worth about $916,000. Dimensional Fund Advisors LP grew its position in shares of DT Midstream by 8.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock valued at $186,407,000 after acquiring an additional 266,433 shares during the period. Tortoise Index Solutions LLC grew its position in shares of DT Midstream by 12.9% during the 4th quarter. Tortoise Index Solutions LLC now owns 128,107 shares of the company’s stock valued at $7,020,000 after acquiring an additional 14,598 shares during the period. International Assets Investment Management LLC bought a new position in shares of DT Midstream during the 4th quarter valued at approximately $815,000. Finally, Prevail Innovative Wealth Advisors LLC bought a new position in shares of DT Midstream during the 4th quarter valued at approximately $1,506,000. 81.53% of the stock is owned by institutional investors.

DT Midstream Stock Performance

NYSE DTM opened at $69.69 on Friday. DT Midstream, Inc. has a 1 year low of $49.06 and a 1 year high of $71.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $6.77 billion, a PE ratio of 17.00 and a beta of 0.74. The company’s 50 day simple moving average is $67.21 and its two-hundred day simple moving average is $60.63.

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

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 4.22%. The ex-dividend date is Monday, June 17th. DT Midstream’s dividend payout ratio is presently 71.71%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DTM. Barclays increased their target price on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Stifel Nicolaus increased their target price on shares of DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. US Capital Advisors downgraded shares of DT Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Mizuho raised their price objective on shares of DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, April 29th. Finally, Wells Fargo & Company raised shares of DT Midstream from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $62.00 to $77.00 in a report on Tuesday, June 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, DT Midstream currently has a consensus rating of “Hold” and an average price target of $63.71.

Read Our Latest Report on DT Midstream

Insiders Place Their Bets

In other news, CFO Jeffrey A. Jewell bought 400 shares of the stock in a transaction on Friday, May 3rd. The shares were acquired at an average cost of $62.80 per share, for a total transaction of $25,120.00. Following the purchase, the chief financial officer now directly owns 44,285 shares of the company’s stock, valued at approximately $2,781,098. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

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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