AE Wealth Management LLC Sells 978 Shares of DT Midstream, Inc. (NYSE:DTM)

AE Wealth Management LLC trimmed its holdings in shares of DT Midstream, Inc. (NYSE:DTMGet Rating) by 4.4% during the third quarter, Holdings Channel.com reports. The fund owned 21,156 shares of the company’s stock after selling 978 shares during the quarter. AE Wealth Management LLC’s holdings in DT Midstream were worth $1,098,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. TFG Advisers LLC bought a new position in DT Midstream in the 3rd quarter valued at about $238,000. State of Alaska Department of Revenue increased its holdings in DT Midstream by 143.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 33,790 shares of the company’s stock valued at $1,753,000 after buying an additional 19,911 shares during the period. Louisiana State Employees Retirement System bought a new position in DT Midstream in the 3rd quarter valued at about $1,334,000. Hexagon Capital Partners LLC bought a new position in DT Midstream in the 3rd quarter valued at about $36,000. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in DT Midstream by 6.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,799 shares of the company’s stock valued at $768,000 after buying an additional 900 shares during the period. 78.28% of the stock is owned by institutional investors.

DT Midstream Stock Up 0.9 %

NYSE:DTM opened at $54.69 on Thursday. The firm’s 50 day simple moving average is $57.44 and its 200 day simple moving average is $55.20. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.14 and a quick ratio of 2.14. DT Midstream, Inc. has a one year low of $45.58 and a one year high of $61.12. The company has a market cap of $5.29 billion, a PE ratio of 14.32 and a beta of 0.86.

DT Midstream (NYSE:DTMGet Rating) last posted its earnings results on Friday, October 28th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.86 by $0.04. DT Midstream had a net margin of 41.33% and a return on equity of 8.24%. The business had revenue of $235.00 million for the quarter, compared to the consensus estimate of $230.73 million. On average, research analysts anticipate that DT Midstream, Inc. will post 3.45 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Monday, December 19th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Friday, December 16th. This represents a $2.56 annualized dividend and a yield of 4.68%. DT Midstream’s dividend payout ratio is presently 67.02%.

Analyst Ratings Changes

Several equities analysts have commented on DTM shares. Citigroup started coverage on shares of DT Midstream in a report on Thursday, December 8th. They issued a “sell” rating and a $54.00 target price on the stock. Morgan Stanley raised their price target on shares of DT Midstream from $60.00 to $64.00 and gave the company an “underweight” rating in a research note on Wednesday, October 19th. Wells Fargo & Company downgraded shares of DT Midstream from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $68.00 to $62.00 in a research note on Friday, December 16th. Mizuho downgraded shares of DT Midstream from a “buy” rating to a “neutral” rating and reduced their price target for the company from $67.00 to $62.00 in a research note on Monday, October 31st. Finally, Barclays raised their price target on shares of DT Midstream from $63.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, October 31st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, DT Midstream currently has an average rating of “Hold” and an average price target of $60.71.

About DT Midstream

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DT Midstream, Inc provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. It develops, owns, and operates an integrated portfolio of interstate pipelines, intrastate pipelines, storage systems, lateral pipelines, gathering systems, related treatment plants, and compression and surface facilities.

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

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