DT Midstream, Inc. (NYSE:DTM) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. lowered its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 678,984 shares of the company’s stock after selling 71,308 shares during the quarter. Duff & Phelps Investment Management Co. owned approximately 0.70% of DT Midstream worth $37,208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of DTM. Blue Trust Inc. grew its position in shares of DT Midstream by 28.3% in the 4th quarter. Blue Trust Inc. now owns 992 shares of the company’s stock worth $53,000 after acquiring an additional 219 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of DT Midstream by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 42,616 shares of the company’s stock valued at $2,255,000 after buying an additional 220 shares during the period. Linden Thomas Advisory Services LLC raised its stake in DT Midstream by 1.7% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 14,961 shares of the company’s stock worth $820,000 after acquiring an additional 245 shares during the period. Johnson Investment Counsel Inc. lifted its holdings in DT Midstream by 0.8% in the third quarter. Johnson Investment Counsel Inc. now owns 31,870 shares of the company’s stock worth $1,687,000 after acquiring an additional 250 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its position in DT Midstream by 7.5% during the 3rd quarter. CWA Asset Management Group LLC now owns 4,418 shares of the company’s stock valued at $234,000 after purchasing an additional 310 shares during the period. Institutional investors own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Mizuho upped their price target on shares of DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday. Wolfe Research raised DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Finally, Barclays increased their price objective on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DT Midstream has a consensus rating of “Hold” and an average target price of $59.83.

DT Midstream Price Performance

Shares of NYSE DTM traded down $0.02 during trading on Tuesday, hitting $63.19. The company had a trading volume of 532,166 shares, compared to its average volume of 680,177. The company has a market cap of $6.14 billion, a P/E ratio of 16.00 and a beta of 0.73. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63. The business’s 50-day moving average is $60.22 and its 200 day moving average is $56.65. DT Midstream, Inc. has a 52 week low of $45.10 and a 52 week high of $64.69.

DT Midstream (NYSE:DTM) last announced its earnings results on Friday, February 16th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $0.92 by $0.32. The business had revenue of $244.00 million during the quarter, compared to the consensus estimate of $235.19 million. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. During the same period in the prior year, the business posted $0.93 earnings per share. Equities research analysts predict that DT Midstream, Inc. will post 3.95 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were given a $0.735 dividend. This is an increase from DT Midstream’s previous quarterly dividend of $0.69. This represents a $2.94 annualized dividend and a dividend yield of 4.65%. The ex-dividend date was Friday, March 15th. DT Midstream’s dividend payout ratio (DPR) is 74.43%.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $56.87 per share, with a total value of $56,870.00. Following the purchase, the director now owns 37,289 shares of the company’s stock, valued at approximately $2,120,625.43. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.21% of the stock is owned by company insiders.

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.