International Assets Investment Management LLC Sells 495,369 Shares of DT Midstream, Inc. (NYSE:DTM)

International Assets Investment Management LLC reduced its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 99.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,549 shares of the company’s stock after selling 495,369 shares during the quarter. International Assets Investment Management LLC’s holdings in DT Midstream were worth $259,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DTM. Victory Capital Management Inc. grew its stake in shares of DT Midstream by 89.4% during the 2nd quarter. Victory Capital Management Inc. now owns 45,024 shares of the company’s stock worth $3,198,000 after acquiring an additional 21,252 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of DT Midstream by 19.3% in the 2nd quarter. Federated Hermes Inc. now owns 9,819 shares of the company’s stock valued at $697,000 after buying an additional 1,590 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of DT Midstream by 137.0% in the 2nd quarter. Parallel Advisors LLC now owns 4,609 shares of the company’s stock valued at $327,000 after buying an additional 2,664 shares during the last quarter. Wealthspire Advisors LLC acquired a new stake in shares of DT Midstream in the 2nd quarter valued at approximately $262,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of DT Midstream by 15.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock valued at $8,657,000 after buying an additional 16,171 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

DT Midstream Stock Down 1.8 %

DTM opened at $103.81 on Monday. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $109.85. 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 company has a market capitalization of $10.09 billion, a P/E ratio of 25.26 and a beta of 0.77. The stock has a fifty day moving average of $101.32 and a 200-day moving average of $85.88.

DT Midstream (NYSE:DTM) last posted its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The firm had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. During the same period in the prior year, the business posted $0.94 EPS. On average, equities analysts expect that DT Midstream, Inc. will post 3.84 EPS for the current year.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s dividend payout ratio is currently 71.53%.

Analysts Set New Price Targets

Several research firms have recently commented on DTM. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and increased their price objective for the company from $90.00 to $115.00 in a report on Thursday, November 21st. JPMorgan Chase & Co. increased their price objective on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Barclays began coverage on DT Midstream in a report on Friday. They set an “equal weight” rating and a $112.00 price target for the company. Morgan Stanley raised their price target on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus raised DT Midstream from a “hold” rating to a “buy” rating and raised their price target for the company from $89.00 to $106.00 in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.88.

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.