Van ECK Associates Corp Sells 1,651 Shares of DT Midstream, Inc. (NYSE:DTM)

Van ECK Associates Corp lessened its stake in shares of DT Midstream, Inc. (NYSE:DTMGet Rating) by 5.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 27,230 shares of the company’s stock after selling 1,651 shares during the period. Van ECK Associates Corp’s holdings in DT Midstream were worth $1,413,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DTM. Strs Ohio acquired a new position in shares of DT Midstream during the second quarter worth $2,114,000. Baird Financial Group Inc. lifted its holdings in shares of DT Midstream by 5.5% during the second quarter. Baird Financial Group Inc. now owns 36,617 shares of the company’s stock worth $1,795,000 after purchasing an additional 1,920 shares during the period. Venture Visionary Partners LLC acquired a new position in shares of DT Midstream during the second quarter worth $94,000. Alps Advisors Inc. lifted its holdings in shares of DT Midstream by 11.5% during the second quarter. Alps Advisors Inc. now owns 180,072 shares of the company’s stock worth $8,827,000 after purchasing an additional 18,565 shares during the period. Finally, Private Trust Co. NA acquired a new position in shares of DT Midstream during the second quarter worth $33,000. Institutional investors own 78.28% of the company’s stock.

DT Midstream Trading Down 0.7 %

DTM opened at $54.65 on Friday. DT Midstream, Inc. has a 1-year low of $45.58 and a 1-year high of $61.12. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.74. The company has a market cap of $5.29 billion, a P/E ratio of 14.31 and a beta of 0.86. The company has a fifty day moving average price of $57.11 and a two-hundred day moving average price of $55.28.

DT Midstream (NYSE:DTMGet Rating) last posted its quarterly earnings results on Friday, October 28th. The company reported $0.90 earnings per share for the quarter, beating 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 firm had revenue of $235.00 million during the quarter, compared to the consensus estimate of $230.73 million. Analysts predict that DT Midstream, Inc. will post 3.88 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, January 15th. Shareholders of record on Monday, December 19th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 4.68%. The ex-dividend date is Friday, December 16th. DT Midstream’s dividend payout ratio (DPR) is currently 67.02%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on DTM shares. Citigroup started coverage on shares of DT Midstream in a report on Thursday, December 8th. They set a “sell” rating and a $54.00 price target on the stock. Morgan Stanley boosted their target price on shares of DT Midstream from $60.00 to $64.00 and gave the company an “underweight” rating in a report on Wednesday, October 19th. Wells Fargo & Company lowered shares of DT Midstream from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $68.00 to $62.00 in a report on Friday, December 16th. Mizuho lowered shares of DT Midstream from a “buy” rating to a “neutral” rating and dropped their target price for the company from $67.00 to $62.00 in a report on Monday, October 31st. Finally, Wolfe Research lowered shares of DT Midstream from an “outperform” rating to a “peer perform” rating in a report on Wednesday, November 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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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