Amalgamated Bank Has $4.32 Million Holdings in DT Midstream, Inc. (NYSE:DTM)

Amalgamated Bank trimmed its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 8.1% during the second quarter, HoldingsChannel reports. The fund owned 60,816 shares of the company’s stock after selling 5,363 shares during the period. Amalgamated Bank’s holdings in DT Midstream were worth $4,320,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Family Firm Inc. bought a new position in DT Midstream during the 2nd quarter worth about $26,000. First Command Advisory Services Inc. bought a new position in shares of DT Midstream during the second quarter worth about $31,000. American National Bank raised its position in DT Midstream by 100.0% in the 2nd quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after buying an additional 234 shares during the last quarter. Mather Group LLC. bought a new stake in DT Midstream in the 1st quarter valued at approximately $29,000. Finally, ICA Group Wealth Management LLC acquired a new position in DT Midstream during the 4th quarter worth approximately $32,000. 81.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

DT Midstream Trading Up 1.6 %

DT Midstream stock opened at $77.82 on Friday. The stock has a 50-day simple moving average of $75.00 and a 200 day simple moving average of $68.33. The stock has a market capitalization of $7.56 billion, a P/E ratio of 18.98 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. DT Midstream, Inc. has a 52 week low of $50.88 and a 52 week high of $78.83.

DT Midstream (NYSE:DTM) last issued its earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The company had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. During the same period in the previous year, the company posted $0.93 EPS. Analysts expect that DT Midstream, Inc. will post 3.96 earnings per share for the current year.

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Monday, September 16th. DT Midstream’s payout ratio is presently 71.71%.

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.