Ethic Inc. Cuts Stock Position in DT Midstream, Inc. (NYSE:DTM)

Ethic Inc. lessened its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 17.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,691 shares of the company’s stock after selling 8,751 shares during the period. Ethic Inc.’s holdings in DT Midstream were worth $4,145,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in shares of DT Midstream by 61.6% in the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock worth $30,000 after purchasing an additional 117 shares during the last quarter. AdvisorNet Financial Inc increased its stake in DT Midstream by 106.7% during the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC raised its holdings in DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after buying an additional 163 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of DT Midstream in the third quarter worth approximately $29,000. Finally, UMB Bank n.a. lifted its stake in shares of DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after buying an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

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, March 10th. The stock was purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the purchase, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 1,235 shares of company stock valued at $109,867 over the last quarter. 0.34% of the stock is currently owned by company insiders.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $101.28 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $10.29 billion, a PE ratio of 24.64 and a beta of 0.77. The firm’s 50 day moving average price is $95.66 and its 200-day moving average price is $99.01. DT Midstream, Inc. has a twelve month low of $64.56 and a twelve month high of $114.50.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.01). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The business had revenue of $288.81 million during the quarter, compared to the consensus estimate of $285.48 million. During the same quarter in the previous year, the business posted $0.99 earnings per share. Equities research analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream’s payout ratio is 89.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on DTM shares. Williams Trading set a $110.00 price objective on shares of DT Midstream in a report on Monday, March 24th. Raymond James boosted their price target on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. US Capital Advisors cut DT Midstream from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 28th. UBS Group boosted 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. Finally, Stifel Nicolaus dropped their price target on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $108.27.

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.