Exchange Traded Concepts LLC Sells 7,945 Shares of DT Midstream, Inc. (NYSE:DTM)

Exchange Traded Concepts LLC lessened its stake in DT Midstream, Inc. (NYSE:DTM) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,618 shares of the company’s stock after selling 7,945 shares during the period. Exchange Traded Concepts LLC owned about 0.12% of DT Midstream worth $11,695,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FMR LLC raised its stake in shares of DT Midstream by 1,476.9% during the third quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after acquiring an additional 754,839 shares during the last quarter. Brookfield Corp ON increased its holdings in DT Midstream by 171.3% during the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after purchasing an additional 655,695 shares during the period. International Assets Investment Management LLC bought a new position in DT Midstream during the 3rd quarter valued at approximately $39,166,000. Charles Schwab Investment Management Inc. lifted its holdings in DT Midstream by 30.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after buying an additional 267,269 shares during the period. Finally, State Street Corp grew its position in shares of DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after buying an additional 202,447 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on DTM shares. Morgan Stanley upped their target price on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday, October 25th. The Goldman Sachs Group raised their target price on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research report on Thursday, December 19th. Wells Fargo & Company boosted their price target on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus upgraded shares of DT Midstream from a “hold” rating to a “buy” rating and raised their price objective for the stock from $89.00 to $106.00 in a report on Thursday, December 19th. Finally, Barclays started coverage on DT Midstream in a report on Friday, January 10th. They set an “equal weight” rating and a $112.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DT Midstream currently has a consensus rating of “Hold” and an average price target of $95.88.

DT Midstream Price Performance

DTM stock opened at $111.34 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a 50 day moving average price of $103.83 and a 200-day moving average price of $88.19. DT Midstream, Inc. has a 52-week low of $51.17 and a 52-week high of $114.50. The firm has a market capitalization of $10.82 billion, a price-to-earnings ratio of 27.02 and a beta of 0.79.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The company had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $242.64 million. During the same quarter in the previous year, the firm posted $0.94 EPS. Equities research analysts forecast that DT Midstream, Inc. will post 3.84 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were paid a dividend of $0.735 per share. The ex-dividend date was Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 2.64%. DT Midstream’s dividend payout ratio is currently 71.53%.

About DT Midstream

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.