DT Midstream, Inc. (NYSE:DTM) Shares Sold by PFG Investments LLC

PFG Investments LLC trimmed its holdings in DT Midstream, Inc. (NYSE:DTM) by 11.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,220 shares of the company’s stock after selling 702 shares during the quarter. PFG Investments LLC’s holdings in DT Midstream were worth $371,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP increased its stake in DT Midstream by 284.6% in the fourth quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock valued at $83,537,000 after purchasing an additional 1,128,056 shares during the period. Norges Bank purchased a new stake in DT Midstream during the 4th quarter valued at approximately $61,638,000. Dimensional Fund Advisors LP raised its stake in DT Midstream by 8.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock valued at $186,407,000 after acquiring an additional 266,433 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in DT Midstream by 14.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 809,126 shares of the company’s stock worth $49,438,000 after acquiring an additional 99,755 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of DT Midstream in the 2nd quarter valued at approximately $6,309,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on DT Midstream from $75.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Barclays upped their price objective on shares of DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Stifel Nicolaus lifted their target price on shares of DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company boosted their price target on shares of DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Citigroup raised their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DT Midstream currently has an average rating of “Hold” and a consensus target price of $70.75.

DT Midstream Stock Up 1.4 %

Shares of NYSE DTM opened at $75.52 on Friday. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 18.42 and a beta of 0.74. DT Midstream, Inc. has a 52 week low of $50.88 and a 52 week high of $78.83. The firm has a 50-day moving average price of $74.15 and a 200 day moving average price of $67.50. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The company had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same period last year, the firm earned $0.93 EPS. Equities research analysts anticipate that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 3.89%. The ex-dividend date is Monday, September 16th. DT Midstream’s dividend payout ratio (DPR) is 71.71%.

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.