DT Midstream, Inc. (NYSE:DTM) Shares Sold by Xponance Inc.

Xponance Inc. lessened its holdings in DT Midstream, Inc. (NYSE:DTM) by 9.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,428 shares of the company’s stock after selling 1,123 shares during the period. Xponance Inc.’s holdings in DT Midstream were worth $741,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Bright Rock Capital Management LLC purchased a new position in DT Midstream during the first quarter worth about $916,000. Prevail Innovative Wealth Advisors LLC lifted its stake in DT Midstream by 37.9% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company’s stock worth $2,316,000 after acquiring an additional 10,418 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in DT Midstream by 137.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock valued at $1,840,000 after acquiring an additional 17,437 shares during the period. Meeder Asset Management Inc. acquired a new position in DT Midstream in the 1st quarter valued at about $1,085,000. Finally, Tortoise Index Solutions LLC increased its stake in DT Midstream by 12.9% during the fourth quarter. Tortoise Index Solutions LLC now owns 128,107 shares of the company’s stock worth $7,020,000 after purchasing an additional 14,598 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analysts Set New Price Targets

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

DT Midstream Stock Performance

Shares of DTM opened at $77.76 on Monday. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 18.97 and a beta of 0.74. DT Midstream, Inc. has a 52-week low of $50.88 and a 52-week high of $79.73. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average price of $75.67 and a 200 day moving average price of $69.19.

DT Midstream (NYSE:DTM) last announced its 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 firm had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same period in the prior year, the firm earned $0.93 EPS. Research analysts predict that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Announces Dividend

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