DT Midstream, Inc. (NYSE:DTM) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 20.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,554 shares of the company’s stock after selling 1,160 shares during the quarter. M&T Bank Corp’s holdings in DT Midstream were worth $439,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alpine Bank Wealth Management acquired a new position in shares of DT Midstream during the first quarter worth about $26,000. Bessemer Group Inc. raised its position in shares of DT Midstream by 61.6% during the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock worth $30,000 after acquiring an additional 117 shares in the last quarter. Versant Capital Management Inc raised its position in shares of DT Midstream by 130.2% during the 1st quarter. Versant Capital Management Inc now owns 488 shares of the company’s stock worth $47,000 after acquiring an additional 276 shares in the last quarter. UMB Bank n.a. raised its position in shares of DT Midstream by 50.3% during the 1st quarter. UMB Bank n.a. now owns 723 shares of the company’s stock worth $70,000 after acquiring an additional 242 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of DT Midstream by 23.8% during the 1st quarter. First Horizon Advisors Inc. now owns 1,439 shares of the company’s stock worth $139,000 after acquiring an additional 277 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DTM. US Capital Advisors lowered DT Midstream from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 28th. Barclays raised their target price on DT Midstream from $102.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 20th. UBS Group raised their target price on DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Williams Trading set a $110.00 target price on DT Midstream in a research report on Monday, March 24th. Finally, Bank of America started coverage on DT Midstream in a research report on Monday, March 24th. They issued a “buy” rating and a $110.00 target price for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $109.27.

DT Midstream Trading Up 0.1%

DTM opened at $103.29 on Thursday. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 1.65 and a beta of 0.78. DT Midstream, Inc. has a 52 week low of $69.82 and a 52 week high of $114.50. The business’s 50 day moving average is $104.91 and its two-hundred day moving average is $100.96. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.69.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.01). The company had revenue of $288.81 million during the quarter, compared to analyst estimates of $285.48 million. DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. During the same quarter last year, the firm earned $0.99 EPS. On average, research analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 16th were given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.18%. The ex-dividend date was Monday, June 16th. DT Midstream’s dividend payout ratio (DPR) is presently 89.37%.

DT Midstream 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.