Comerica Bank Sells 3,332 Shares of DT Midstream, Inc. (NYSE:DTM)

Comerica Bank cut its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,812 shares of the company's stock after selling 3,332 shares during the period. Comerica Bank's holdings in DT Midstream were worth $4,356,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of DT Midstream during the fourth quarter worth $119,520,000. Bank of Montreal Can boosted its position in DT Midstream by 733.3% during the fourth quarter. Bank of Montreal Can now owns 458,789 shares of the company's stock valued at $45,617,000 after acquiring an additional 403,730 shares during the last quarter. Geode Capital Management LLC grew its holdings in DT Midstream by 18.7% during the 4th 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 period. Vanguard Group Inc. raised its position in shares of DT Midstream by 3.5% in the 4th 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 in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of DT Midstream by 24.7% in the 4th quarter. Invesco Ltd. now owns 1,487,901 shares of the company's stock valued at $147,942,000 after purchasing an additional 294,583 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Stock Performance

Shares of DTM opened at $101.60 on Tuesday. DT Midstream, Inc. has a 52 week low of $62.90 and a 52 week high of $114.50. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a 50 day moving average price of $95.12 and a two-hundred day moving average price of $98.70. The firm has a market capitalization of $10.32 billion, a P/E ratio of 24.72 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last released 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 company had revenue of $288.81 million during the quarter, compared to analysts' expectations of $285.48 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same period in the previous year, the company posted $0.99 earnings per share. Equities analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream's payout ratio is 89.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on DTM shares. UBS Group lifted their target price on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. JPMorgan Chase & Co. boosted their target price on shares of DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Barclays decreased their price target on shares of DT Midstream from $107.00 to $102.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Stifel Nicolaus cut their price objective 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. Finally, Wells Fargo & Company reduced their target price on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, DT Midstream currently has an average rating of "Hold" and an average price target of $108.27.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, the director now directly owns 38,653 shares of the company's stock, valued at $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.34% of the company's stock.

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.

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