Renaissance Technologies LLC lessened its stake in DT Midstream, Inc. (NYSE:DTM – Get Rating) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 123,500 shares of the company’s stock after selling 13,100 shares during the quarter. Renaissance Technologies LLC’s holdings in DT Midstream were worth $6,408,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC acquired a new position in DT Midstream in the 2nd quarter valued at approximately $30,000. Geneos Wealth Management Inc. bought a new stake in DT Midstream in the first quarter worth approximately $30,000. Private Trust Co. NA bought a new stake in DT Midstream in the second quarter worth approximately $33,000. GHP Investment Advisors Inc. bought a new stake in DT Midstream in the third quarter worth approximately $35,000. Finally, Hexagon Capital Partners LLC bought a new stake in DT Midstream in the third quarter worth approximately $36,000. Institutional investors and hedge funds own 78.28% of the company’s stock.
Wall Street Analyst Weigh In
DTM has been the subject of several recent research reports. Mizuho raised shares of DT Midstream from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $60.00 to $59.00 in a research report on Thursday, March 2nd. Citigroup raised shares of DT Midstream from a “sell” rating to a “neutral” rating and set a $54.00 target price for the company in a research report on Thursday, February 23rd. TheStreet downgraded shares of DT Midstream from a “c” rating to a “d” rating in a research report on Wednesday, February 22nd. Wells Fargo & Company decreased their target price on shares of DT Midstream from $62.00 to $55.00 in a research report on Monday, February 20th. Finally, Wolfe Research downgraded shares of DT Midstream from an “outperform” rating to a “peer perform” rating in a report on Wednesday, November 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DT Midstream has a consensus rating of “Hold” and a consensus price target of $59.20.
DT Midstream Price Performance
DT Midstream (NYSE:DTM – Get Rating) last posted its quarterly earnings data on Thursday, February 16th. The company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.02). The firm had revenue of $243.00 million for the quarter, compared to the consensus estimate of $238.07 million. DT Midstream had a return on equity of 8.27% and a net margin of 40.22%. During the same period in the prior year, the company posted $0.89 earnings per share. On average, sell-side analysts predict that DT Midstream, Inc. will post 3.58 EPS for the current year.
DT Midstream Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Saturday, April 15th. Investors of record on Monday, March 20th will be paid a dividend of $0.69 per share. This is a boost from DT Midstream’s previous quarterly dividend of $0.64. This represents a $2.76 annualized dividend and a yield of 5.44%. The ex-dividend date of this dividend is Friday, March 17th. DT Midstream’s dividend payout ratio is presently 67.19%.
About DT Midstream
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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