DT Midstream, Inc. (NYSE:DTM) Shares Sold by BROOKFIELD Corp ON

BROOKFIELD Corp ON cut its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 968,346 shares of the company's stock after selling 70,155 shares during the period. DT Midstream comprises about 0.6% of BROOKFIELD Corp ON's holdings, making the stock its 23rd largest position. BROOKFIELD Corp ON owned about 1.00% of DT Midstream worth $96,283,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in DTM. Louisiana State Employees Retirement System grew its stake in shares of DT Midstream by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company's stock valued at $2,685,000 after buying an additional 100 shares during the period. Jones Financial Companies Lllp increased its stake in DT Midstream by 15.0% during the fourth quarter. Jones Financial Companies Lllp now owns 768 shares of the company's stock worth $76,000 after acquiring an additional 100 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in DT Midstream by 17.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company's stock worth $69,000 after acquiring an additional 105 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of DT Midstream by 1.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company's stock valued at $1,235,000 after purchasing an additional 116 shares in the last quarter. Finally, Lakeshore Financial Planning Inc. grew its holdings in shares of DT Midstream by 4.2% during the 4th quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company's stock worth $285,000 after purchasing an additional 116 shares during the period. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DTM has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of DT Midstream from $92.00 to $105.00 and gave the stock an "underweight" rating in a research note on Tuesday, March 25th. Bank of America began coverage on DT Midstream in a report on Monday, March 24th. They issued a "buy" rating and a $110.00 price target for the company. Raymond James boosted their price objective on DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. increased their target price on DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company reduced their price target on DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, DT Midstream presently has a consensus rating of "Hold" and a consensus price target of $108.27.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business's stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, the director now directly owns 38,653 shares of the company's stock, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders acquired 1,235 shares of company stock valued at $109,867. Company insiders own 0.34% of the company's stock.

DT Midstream Stock Up 1.2 %

NYSE:DTM traded up $1.18 during mid-day trading on Friday, reaching $101.28. The stock had a trading volume of 628,764 shares, compared to its average volume of 866,929. The stock's 50 day simple moving average is $95.66 and its two-hundred day simple moving average is $99.01. DT Midstream, Inc. has a 1-year low of $64.56 and a 1-year high of $114.50. The company has a market capitalization of $10.29 billion, a price-to-earnings ratio of 24.64 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.01). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The firm had revenue of $288.81 million for the quarter, compared to analyst estimates of $285.48 million. During the same period in the prior year, the company posted $0.99 earnings per share. Equities analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.24%. DT Midstream's payout ratio is currently 89.37%.

DT Midstream 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.