Raymond James & Associates Sells 1,671 Shares of DT Midstream, Inc. (NYSE:DTM)

Raymond James & Associates trimmed its holdings in shares of DT Midstream, Inc. (NYSE:DTM – Get Rating) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,403 shares of the company’s stock after selling 1,671 shares during the period. Raymond James & Associates owned about 0.07% of DT Midstream worth $3,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Belpointe Asset Management LLC bought a new position in DT Midstream during the 4th quarter worth about $41,000. UBS Group AG lifted its position in shares of DT Midstream by 34.6% during the fourth quarter. UBS Group AG now owns 106,048 shares of the company’s stock valued at $5,860,000 after buying an additional 27,249 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of DT Midstream by 0.3% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 647,598 shares of the company’s stock valued at $35,786,000 after purchasing an additional 2,170 shares during the last quarter. LSV Asset Management raised its position in shares of DT Midstream by 10.1% in the 4th quarter. LSV Asset Management now owns 128,310 shares of the company’s stock valued at $7,090,000 after purchasing an additional 11,739 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its position in shares of DT Midstream by 37.0% in the 4th quarter. Orion Portfolio Solutions LLC now owns 7,237 shares of the company’s stock valued at $400,000 after purchasing an additional 1,955 shares during the last quarter. 78.28% of the stock is currently owned by institutional investors.

Insider Activity at DT Midstream

In other DT Midstream news, Chairman Robert C. Skaggs, Jr. bought 2,000 shares of the stock in a transaction on Thursday, May 11th. The shares were bought at an average price of $46.70 per share, with a total value of $93,400.00. Following the purchase, the chairman now directly owns 19,539 shares in the company, valued at approximately $912,471.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Peter I. Tumminello purchased 5,000 shares of DT Midstream stock in a transaction dated Tuesday, May 23rd. The shares were acquired at an average price of $47.35 per share, for a total transaction of $236,750.00. Following the acquisition, the director now directly owns 9,888 shares in the company, valued at $468,196.80. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Robert C. Skaggs, Jr. purchased 2,000 shares of DT Midstream stock in a transaction dated Thursday, May 11th. The shares were bought at an average price of $46.70 per share, for a total transaction of $93,400.00. Following the acquisition, the chairman now owns 19,539 shares in the company, valued at $912,471.30. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 8,500 shares of company stock valued at $400,005. 0.04% of the stock is owned by company insiders.

DT Midstream Price Performance

DT Midstream stock opened at $46.57 on Friday. The company’s fifty day moving average price is $47.86 and its 200 day moving average price is $52.40. DT Midstream, Inc. has a 1 year low of $45.10 and a 1 year high of $61.12. The stock has a market capitalization of $4.51 billion, a P/E ratio of 12.22 and a beta of 0.76. 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 (NYSE:DTM – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.08). DT Midstream had a net margin of 40.00% and a return on equity of 8.21%. The company had revenue of $220.00 million during the quarter, compared to analyst estimates of $238.44 million. During the same period in the prior year, the business posted $0.84 EPS. As a group, equities research analysts anticipate that DT Midstream, Inc. will post 3.51 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Monday, June 19th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $2.76 dividend on an annualized basis and a yield of 5.93%. DT Midstream’s dividend payout ratio is currently 72.44%.

Analyst Upgrades and Downgrades

DTM has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on shares of DT Midstream from $60.00 to $59.00 in a research report on Tuesday, April 18th. Raymond James initiated coverage on shares of DT Midstream in a research report on Friday, April 21st. They set an “outperform” rating for the company. Mizuho reduced their price target on shares of DT Midstream from $59.00 to $58.00 in a research report on Monday, May 1st. Citigroup raised shares of DT Midstream from a “sell” rating to a “neutral” rating and set a $54.00 price target for the company in a research report on Thursday, February 23rd. Finally, TheStreet lowered shares of DT Midstream from a “c” rating to a “d” rating in a research report 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 company’s stock. Based on data from MarketBeat, DT Midstream presently has a consensus rating of “Hold” and a consensus price target of $57.17.

DT Midstream Profile

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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.