DT Midstream, Inc. (NYSE:DTM) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in DT Midstream, Inc. (NYSE:DTM) by 12.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 347,846 shares of the company’s stock after selling 48,571 shares during the period. Principal Financial Group Inc. owned about 0.36% of DT Midstream worth $24,708,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DTM. Family Firm Inc. purchased a new stake in DT Midstream in the 2nd quarter worth approximately $26,000. Mather Group LLC. acquired a new stake in shares of DT Midstream during the first quarter worth $29,000. First Command Advisory Services Inc. purchased a new stake in shares of DT Midstream in the second quarter valued at $31,000. ICA Group Wealth Management LLC acquired a new position in DT Midstream in the fourth quarter valued at $32,000. Finally, American National Bank lifted its position in DT Midstream by 100.0% during the second quarter. American National Bank now owns 468 shares of the company’s stock worth $33,000 after buying an additional 234 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on DTM. Wells Fargo & Company lifted their price target on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $75.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Stifel Nicolaus lifted their price target on shares of DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Barclays upped their price objective on DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $70.00.

DT Midstream Price Performance

DTM opened at $78.59 on Tuesday. DT Midstream, Inc. has a twelve month low of $50.54 and a twelve month high of $78.83. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 19.17 and a beta of 0.74. The company has a fifty day simple moving average of $73.32 and a 200 day simple moving average of $66.55.

DT Midstream (NYSE:DTM) last announced its earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.06. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The company had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. During the same period last year, the firm earned $0.93 earnings per share. Equities research analysts expect that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a $0.735 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.94 annualized dividend and a yield of 3.74%. DT Midstream’s dividend payout ratio is presently 71.71%.

About DT Midstream

DT Midstream, Inc, together with its subsidiaries, provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.