Principal Financial Group Inc. Has $21.51 Million Stock Position in DT Midstream, Inc. (NYSE:DTM)

Principal Financial Group Inc. lessened its position in DT Midstream, Inc. (NYSE:DTM – Get Rating) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 389,283 shares of the company’s stock after selling 5,315 shares during the period. Principal Financial Group Inc.’s holdings in DT Midstream were worth $21,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Creative Capital Management Investments LLC bought a new stake in shares of DT Midstream in the fourth quarter valued at approximately $25,000. Private Trust Co. NA acquired a new stake in DT Midstream in the 4th quarter worth $26,000. Romano Brothers AND Company bought a new position in shares of DT Midstream during the 4th quarter worth about $31,000. Geneos Wealth Management Inc. acquired a new position in shares of DT Midstream during the first quarter valued at about $30,000. Finally, GHP Investment Advisors Inc. acquired a new position in shares of DT Midstream during the third quarter valued at about $35,000. Institutional investors own 78.28% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on DT Midstream from $62.00 to $55.00 in a research note on Monday, February 20th. TheStreet lowered DT Midstream from a “c” rating to a “d” rating in a research note on Wednesday, February 22nd. Raymond James started coverage on DT Midstream in a research report on Friday, April 21st. They issued an “outperform” rating for the company. JPMorgan Chase & Co. lowered their price target on shares of DT Midstream from $60.00 to $59.00 in a report on Tuesday, April 18th. Finally, Morgan Stanley reduced their price objective on shares of DT Midstream from $64.00 to $60.00 in a report on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $57.17.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, CEO David Slater bought 1,500 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were bought at an average price of $46.57 per share, for a total transaction of $69,855.00. Following the completion of the acquisition, the chief executive officer now owns 33,273 shares of the company’s stock, valued at $1,549,523.61. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO David Slater purchased 1,500 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were acquired at an average cost of $46.57 per share, with a total value of $69,855.00. Following the completion of the purchase, the chief executive officer now directly owns 33,273 shares of the company’s stock, valued at $1,549,523.61. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Robert C. Skaggs, Jr. purchased 2,000 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was bought at an average cost of $46.70 per share, with a total value of $93,400.00. Following the acquisition, the chairman now owns 19,539 shares of the company’s stock, valued at $912,471.30. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

DT Midstream Stock Down 1.6 %

Shares of NYSE:DTM opened at $47.08 on Monday. The company’s fifty day moving average is $48.00 and its 200-day moving average is $52.72. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.36 and a current ratio of 0.36. DT Midstream, Inc. has a 52 week low of $45.10 and a 52 week high of $61.12. The company has a market capitalization of $4.56 billion, a PE ratio of 12.36 and a beta of 0.76.

DT Midstream (NYSE:DTM – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.08). The firm had revenue of $220.00 million during the quarter, compared to analyst estimates of $238.44 million. DT Midstream had a net margin of 40.00% and a return on equity of 8.21%. During the same quarter last year, the firm earned $0.84 earnings per share. Equities research analysts predict that DT Midstream, Inc. will post 3.51 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Monday, June 19th will be issued a dividend of $0.69 per share. The ex-dividend date is Thursday, June 15th. This represents a $2.76 dividend on an annualized basis and a yield of 5.86%. DT Midstream’s dividend payout ratio is 72.44%.

About DT Midstream

(Get Rating)

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.