DT Midstream, Inc. (NYSE:DTM) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its stake in DT Midstream, Inc. (NYSE:DTM) by 12.5% during the 1st quarter, Holdings Channel reports. The firm owned 12,537 shares of the company’s stock after selling 1,797 shares during the quarter. Wedge Capital Management L L P NC’s holdings in DT Midstream were worth $1,210,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in DT Midstream by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock worth $1,049,363,000 after acquiring an additional 359,017 shares during the last quarter. Deutsche Bank AG boosted its position in DT Midstream by 5.5% during the fourth quarter. Deutsche Bank AG now owns 2,831,830 shares of the company’s stock worth $281,569,000 after acquiring an additional 147,790 shares during the last quarter. Geode Capital Management LLC boosted its position in DT Midstream by 18.7% during the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company’s stock worth $243,948,000 after acquiring an additional 386,670 shares during the last quarter. Blackstone Inc. boosted its position in DT Midstream by 2,783.1% during the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock worth $162,199,000 after acquiring an additional 1,574,705 shares during the last quarter. Finally, Invesco Ltd. boosted its position in DT Midstream by 24.7% during the fourth quarter. Invesco Ltd. now owns 1,487,901 shares of the company’s stock worth $147,942,000 after acquiring an additional 294,583 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Performance

NYSE:DTM opened at $104.39 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $99.63 and a two-hundred day moving average price of $100.27. DT Midstream, Inc. has a twelve month low of $66.98 and a twelve month high of $114.50. The company has a market capitalization of $10.61 billion, a P/E ratio of 25.40 and a beta of 0.78.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). The firm had revenue of $288.81 million for the quarter, compared to analysts’ expectations of $285.48 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter last year, the firm earned $0.99 earnings per share. As a group, research analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be given a $0.82 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.28 annualized dividend and a dividend yield of 3.14%. DT Midstream’s dividend payout ratio is presently 89.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on DTM shares. Stifel Nicolaus lowered their price target on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Bank of America initiated coverage on shares of DT Midstream in a report on Monday, March 24th. They issued a “buy” rating and a $110.00 target price on the stock. UBS Group boosted their target price on shares of DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Morgan Stanley set a $115.00 target price on shares of DT Midstream and gave the company an “underweight” rating in a report on Tuesday, June 3rd. Finally, Williams Trading set a $110.00 target price on shares of DT Midstream in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $109.27.

DT Midstream Company Profile

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.