Bank of Montreal Can Sells 2,122 Shares of DT Midstream, Inc. (NYSE:DTM)

Bank of Montreal Can lessened its holdings in DT Midstream, Inc. (NYSE:DTM) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 57,589 shares of the company’s stock after selling 2,122 shares during the quarter. Bank of Montreal Can owned approximately 0.06% of DT Midstream worth $4,116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in DT Midstream by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock valued at $312,070,000 after acquiring an additional 490,613 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in DT Midstream by 1.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company’s stock valued at $144,398,000 after acquiring an additional 37,463 shares during the last quarter. First Trust Advisors LP increased its stake in shares of DT Midstream by 284.6% during the fourth quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock valued at $83,537,000 after buying an additional 1,128,056 shares during the period. Bank of New York Mellon Corp increased its stake in shares of DT Midstream by 3.4% during the second quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock valued at $82,870,000 after buying an additional 38,305 shares during the period. Finally, Tortoise Capital Advisors L.L.C. increased its stake in shares of DT Midstream by 6.3% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock valued at $72,737,000 after buying an additional 60,370 shares during the period. Institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

DT Midstream stock opened at $78.85 on Wednesday. DT Midstream, Inc. has a 12-month low of $50.88 and a 12-month high of $79.73. The stock has a market cap of $7.66 billion, a P/E ratio of 19.23 and a beta of 0.74. The company has a 50-day moving average price of $75.80 and a 200 day moving average price of $69.49. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The business had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same period last year, the business earned $0.93 earnings per share. Sell-side analysts anticipate that DT Midstream, Inc. will post 3.96 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Monday, September 16th. DT Midstream’s dividend payout ratio (DPR) is currently 71.71%.

Analyst Ratings Changes

Several brokerages have weighed in on DTM. JPMorgan Chase & Co. raised their price target on DT Midstream from $75.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Stifel Nicolaus lifted their price target on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Barclays lifted their price target on DT Midstream from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Wells Fargo & Company boosted their price objective on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Citigroup boosted their price objective on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, DT Midstream currently has an average rating of “Hold” and a consensus price target of $70.75.

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.