DT Midstream, Inc. (NYSE:DTM) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 11.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 701,023 shares of the company’s stock after selling 90,478 shares during the quarter. Russell Investments Group Ltd.’s holdings in DT Midstream were worth $38,416,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in DTM. U.S. Capital Wealth Advisors LLC bought a new stake in shares of DT Midstream during the 3rd quarter worth $505,000. Linden Thomas Advisory Services LLC acquired a new position in shares of DT Midstream in the 3rd quarter valued at $779,000. Accurate Wealth Management LLC increased its stake in DT Midstream by 8.3% in the 3rd quarter. Accurate Wealth Management LLC now owns 4,288 shares of the company’s stock worth $240,000 after purchasing an additional 330 shares in the last quarter. Independent Advisor Alliance acquired a new stake in DT Midstream during the 3rd quarter worth about $270,000. Finally, Lindbrook Capital LLC lifted its stake in DT Midstream by 91.2% during the third quarter. Lindbrook Capital LLC now owns 11,948 shares of the company’s stock valued at $632,000 after buying an additional 5,699 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Price Performance

Shares of DTM opened at $63.19 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $6.14 billion, a PE ratio of 16.00 and a beta of 0.73. DT Midstream, Inc. has a twelve month low of $45.10 and a twelve month high of $64.69. The firm’s 50 day moving average price is $60.22 and its 200 day moving average price is $56.65.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Friday, February 16th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.32. The business had revenue of $244.00 million during the quarter, compared to analyst estimates of $235.19 million. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. During the same quarter in the previous year, the business earned $0.93 EPS. As a group, research analysts expect that DT Midstream, Inc. will post 3.95 EPS for the current fiscal year.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were given a $0.735 dividend. The ex-dividend date was Friday, March 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.65%. This is a boost from DT Midstream’s previous quarterly dividend of $0.69. DT Midstream’s payout ratio is currently 74.43%.

Analyst Ratings Changes

Several research analysts have recently weighed in on DTM shares. Barclays lifted their target price on shares of DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Mizuho lifted their price objective on shares of DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Wolfe Research upgraded DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, DT Midstream currently has a consensus rating of “Hold” and an average price target of $59.83.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction dated Monday, February 26th. The stock was acquired at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the purchase, 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 Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by corporate insiders.

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.