Wedge Capital Management L L P NC Has $1.43 Million Position in DT Midstream, Inc. (NYSE:DTM)

Wedge Capital Management L L P NC reduced its position in shares of DT Midstream, Inc. (NYSE:DTMFree Report) by 12.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,334 shares of the company’s stock after selling 2,121 shares during the period. Wedge Capital Management L L P NC’s holdings in DT Midstream were worth $1,425,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of DTM. UMB Bank n.a. lifted its stake in DT Midstream by 324.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock valued at $25,000 after acquiring an additional 240 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in DT Midstream during the 3rd quarter valued at $29,000. Wilmington Savings Fund Society FSB acquired a new stake in DT Midstream during the third quarter worth approximately $29,000. AdvisorNet Financial Inc lifted its holdings in shares of DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after buying an additional 160 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of DT Midstream during the third quarter worth approximately $40,000. Institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

DTM stock opened at $112.55 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream, Inc. has a 1 year low of $51.17 and a 1 year high of $112.86. The company has a market cap of $10.93 billion, a P/E ratio of 27.38 and a beta of 0.79. The firm has a 50-day moving average of $103.05 and a 200 day moving average of $87.55.

DT Midstream (NYSE:DTMGet Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $242.64 million. During the same period last year, the firm posted $0.94 earnings per share. On average, sell-side analysts forecast that DT Midstream, Inc. will post 3.84 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Monday, December 16th. DT Midstream’s dividend payout ratio is presently 71.53%.

Analyst Ratings Changes

Several brokerages have commented on DTM. Morgan Stanley boosted their target price on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Stifel Nicolaus raised DT Midstream from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $89.00 to $106.00 in a research report on Thursday, December 19th. JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Barclays started coverage on shares of DT Midstream in a report on Friday, January 10th. They set an “equal weight” rating and a $112.00 price objective for the company. Finally, Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and raised their price objective for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DT Midstream currently has a consensus rating of “Hold” and an average price target of $95.88.

Check Out Our Latest Stock Report on DT Midstream

DT Midstream Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for DT Midstream (NYSE:DTM)

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