DT Midstream, Inc. (NYSE:DTM) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 33.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,806 shares of the company’s stock after selling 34,334 shares during the quarter. Wedge Capital Management L L P NC’s holdings in DT Midstream were worth $3,716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of DTM. Deutsche Bank AG increased its holdings in shares of DT Midstream by 1,176.7% in the 3rd quarter. Deutsche Bank AG now owns 867,145 shares of the company’s stock valued at $45,889,000 after acquiring an additional 799,224 shares during the period. Eagle Global Advisors LLC acquired a new position in shares of DT Midstream in the 3rd quarter valued at $8,590,000. Envestnet Asset Management Inc. increased its holdings in shares of DT Midstream by 186.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 157,152 shares of the company’s stock valued at $8,316,000 after acquiring an additional 102,255 shares during the period. Covalis Capital LLP acquired a new position in shares of DT Midstream in the 3rd quarter valued at $5,077,000. Finally, Comerica Bank increased its holdings in shares of DT Midstream by 11,073.2% in the 3rd quarter. Comerica Bank now owns 86,257 shares of the company’s stock valued at $4,565,000 after acquiring an additional 85,485 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $56.87 per share, with a total value of $56,870.00. Following the purchase, the director now owns 37,289 shares of the company’s stock, valued at approximately $2,120,625.43. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

DT Midstream Price Performance

Shares of NYSE DTM opened at $64.20 on Thursday. The firm has a market capitalization of $6.23 billion, a P/E ratio of 16.25 and a beta of 0.73. DT Midstream, Inc. has a one year low of $45.10 and a one year high of $64.21. The company’s fifty day moving average is $59.62 and its two-hundred day moving average is $56.43. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63.

DT Midstream (NYSE:DTM) last issued its earnings results on Friday, February 16th. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.92 by $0.32. The company had revenue of $244.00 million for 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 period in the previous year, the firm earned $0.93 EPS. Analysts forecast that DT Midstream, Inc. will post 3.95 EPS for the current fiscal year.

DT Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 18th were given a $0.735 dividend. The ex-dividend date was Friday, March 15th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.69. This represents a $2.94 annualized dividend and a dividend yield of 4.58%. DT Midstream’s payout ratio is currently 74.43%.

Analysts Set New Price Targets

A number of research firms recently weighed in on DTM. Wolfe Research upgraded shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Barclays lifted their price objective on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, Mizuho reiterated a “neutral” rating and issued a $57.00 price objective (down from $58.00) on shares of DT Midstream in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DT Midstream presently has a consensus rating of “Hold” and an average price target of $58.50.

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.