DT Midstream, Inc. $DTM Shares Sold by TrinityBridge Ltd

TrinityBridge Ltd cut its holdings in DT Midstream, Inc. (NYSE:DTM) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 808,900 shares of the company’s stock after selling 14,200 shares during the period. DT Midstream comprises approximately 2.8% of TrinityBridge Ltd’s portfolio, making the stock its 10th biggest holding. TrinityBridge Ltd’s holdings in DT Midstream were worth $96,660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hennessy Advisors Inc. boosted its holdings in shares of DT Midstream by 0.5% in the 3rd quarter. Hennessy Advisors Inc. now owns 154,280 shares of the company’s stock worth $18,432,000 after buying an additional 800 shares during the last quarter. Glenview Trust Co bought a new position in DT Midstream during the third quarter valued at about $248,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in DT Midstream by 92.4% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 12,700 shares of the company’s stock worth $1,517,000 after buying an additional 6,100 shares during the last quarter. North Dakota State Investment Board increased its holdings in DT Midstream by 3.2% during the third quarter. North Dakota State Investment Board now owns 3,115 shares of the company’s stock worth $372,000 after buying an additional 97 shares during the last quarter. Finally, Sigma Investment Counselors Inc. raised its position in DT Midstream by 38.8% in the third quarter. Sigma Investment Counselors Inc. now owns 4,586 shares of the company’s stock worth $548,000 after acquiring an additional 1,283 shares during the period. 81.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Scotiabank dropped their target price on shares of DT Midstream from $165.00 to $161.00 and set a “sector outperform” rating on the stock in a research note on Tuesday. Jefferies Financial Group reissued a “buy” rating and set a $150.00 target price on shares of DT Midstream in a research report on Thursday, October 15th. Wall Street Zen lowered shares of DT Midstream from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $146.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Finally, Wells Fargo & Company upped their price objective on DT Midstream from $165.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, DT Midstream presently has a consensus rating of “Moderate Buy” and an average target price of $151.00.

DT Midstream Price Performance

DT Midstream stock opened at $122.52 on Wednesday. DT Midstream, Inc. has a one year low of $109.12 and a one year high of $152.88. The business has a fifty day moving average price of $125.48 and a 200-day moving average price of $134.65. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $12.50 billion, a P/E ratio of 26.63, a PEG ratio of 1.70 and a beta of 0.73.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. The company had revenue of $336.00 million for the quarter, compared to analyst estimates of $337.63 million. DT Midstream had a return on equity of 9.59% and a net margin of 35.36%. During the same period in the previous year, the company posted $1.13 EPS. As a group, equities research analysts forecast that DT Midstream, Inc. will post 4.64 EPS for the current year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, December 15th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, December 15th. DT Midstream’s payout ratio is presently 76.52%.

DT Midstream Profile

DT Midstream, Inc (NYSE: DTM) is an independent North American energy company focused on the transportation, storage and gathering of natural gas. The company owns and operates interstate and intrastate pipeline systems, natural gas storage facilities, and gathering and processing infrastructure that connect producers with utilities, power generators, industrial customers and other energy markets.

DT Midstream’s operations are concentrated in the United States, including the Midwest, Northeast and Gulf Coast regions.