LPL Financial LLC Has $1.92 Million Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

LPL Financial LLC cut its stake in DT Midstream, Inc. (NYSE:DTM – Get Rating) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,792 shares of the company’s stock after selling 1,127 shares during the period. LPL Financial LLC’s holdings in DT Midstream were worth $1,923,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sigma Planning Corp raised its holdings in DT Midstream by 5.0% in the 3rd quarter. Sigma Planning Corp now owns 14,320 shares of the company’s stock valued at $743,000 after acquiring an additional 682 shares in the last quarter. TFG Advisers LLC raised its holdings in DT Midstream by 7.3% in the 4th quarter. TFG Advisers LLC now owns 4,917 shares of the company’s stock valued at $272,000 after acquiring an additional 336 shares in the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in DT Midstream by 4.8% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 21,750 shares of the company’s stock valued at $1,202,000 after acquiring an additional 1,000 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in DT Midstream by 494.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 86,136 shares of the company’s stock valued at $4,760,000 after acquiring an additional 71,635 shares in the last quarter. Finally, Verition Fund Management LLC raised its holdings in DT Midstream by 50.1% in the 3rd quarter. Verition Fund Management LLC now owns 192,329 shares of the company’s stock valued at $9,980,000 after acquiring an additional 64,237 shares in the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DTM shares. Mizuho dropped their price objective on DT Midstream from $59.00 to $58.00 in a report on Monday, May 1st. Citigroup upgraded DT Midstream from a “sell” rating to a “neutral” rating and set a $54.00 price target on the stock in a research note on Thursday, February 23rd. Raymond James started coverage on DT Midstream in a research note on Friday, April 21st. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. decreased their price target on DT Midstream from $60.00 to $59.00 in a research note on Tuesday, April 18th. Finally, TheStreet lowered DT Midstream from a “c” rating to a “d” rating in a research note on Wednesday, February 22nd. One investment 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. According to MarketBeat.com, DT Midstream presently has an average rating of “Hold” and a consensus price target of $57.17.

DT Midstream Trading Up 0.9 %

Shares of DTM stock opened at $47.29 on Wednesday. The firm has a market capitalization of $4.58 billion, a P/E ratio of 12.41 and a beta of 0.76. DT Midstream, Inc. has a twelve month low of $45.10 and a twelve month high of $61.12. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.73. The stock’s fifty day simple moving average is $47.91 and its 200 day simple moving average is $52.53.

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

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Shareholders of record on Monday, June 19th will be given a $0.69 dividend. The ex-dividend date is Thursday, June 15th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 5.84%. DT Midstream’s dividend payout ratio (DPR) is presently 72.44%.

Insider Buying and Selling at DT Midstream

In related news, Chairman Robert C. Skaggs, Jr. purchased 2,000 shares of DT Midstream stock in a transaction on Thursday, May 11th. The shares were purchased at an average price of $46.70 per share, for a total transaction of $93,400.00. Following the transaction, the chairman now owns 19,539 shares of the company’s stock, valued at approximately $912,471.30. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Chairman Robert C. Skaggs, Jr. purchased 2,000 shares of DT Midstream stock in a transaction on Thursday, May 11th. The shares were purchased at an average price of $46.70 per share, for a total transaction of $93,400.00. Following the transaction, the chairman now owns 19,539 shares of the company’s stock, valued at approximately $912,471.30. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Slater acquired 1,500 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was acquired at an average cost of $46.57 per share, for a total transaction of $69,855.00. Following the completion of the purchase, the chief executive officer now directly owns 33,273 shares in the company, valued at $1,549,523.61. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

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.