Aventail Capital Group LP Sells 587,116 Shares of DT Midstream, Inc. $DTM

Aventail Capital Group LP lessened its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 83.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,086 shares of the company’s stock after selling 587,116 shares during the period. Aventail Capital Group LP owned about 0.11% of DT Midstream worth $12,786,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Royal Bank of Canada grew its stake in DT Midstream by 21.6% in the first quarter. Royal Bank of Canada now owns 90,286 shares of the company’s stock valued at $8,711,000 after purchasing an additional 16,043 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of DT Midstream by 1.6% during the 1st quarter. NewEdge Advisors LLC now owns 13,631 shares of the company’s stock worth $1,315,000 after purchasing an additional 218 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of DT Midstream by 13.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,241 shares of the company’s stock worth $26,652,000 after purchasing an additional 31,894 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of DT Midstream by 39.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock valued at $42,000 after buying an additional 123 shares during the last quarter. Finally, Prospera Financial Services Inc acquired a new stake in shares of DT Midstream in the 2nd quarter valued at approximately $233,000. 81.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Jeffrey A. Jewell purchased 185 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average price of $136.33 per share, for a total transaction of $25,221.05. Following the purchase, the chief financial officer owned 89,583 shares in the company, valued at approximately $12,212,850.39. This represents a 0.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DTM. Morgan Stanley raised their target price on shares of DT Midstream from $137.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, February 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, January 21st. Bank of America lifted their price objective on shares of DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Wells Fargo & Company boosted their price objective on shares of DT Midstream from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, UBS Group upped their target price on shares of DT Midstream from $128.00 to $152.00 and gave the company a “buy” rating in a report on Friday, February 20th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $141.00.

DT Midstream Stock Up 1.4%

DTM opened at $137.58 on Friday. The stock’s fifty day simple moving average is $129.16 and its 200 day simple moving average is $118.68. DT Midstream, Inc. has a 1-year low of $83.30 and a 1-year high of $143.67. The stock has a market cap of $14.00 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 2.83 and a beta of 0.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.68.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Thursday, February 19th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.The company had revenue of $317.00 million for the quarter, compared to the consensus estimate of $320.07 million. During the same period last year, the firm earned $0.94 earnings per share. As a group, research analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, March 16th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.82. DT Midstream’s payout ratio is presently 76.10%.

DT Midstream Profile

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.