T. Rowe Price Investment Management Inc. Sells 73,114 Shares of DT Midstream, Inc. (NYSE:DTM)

T. Rowe Price Investment Management Inc. cut its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 786,387 shares of the company's stock after selling 73,114 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 0.81% of DT Midstream worth $78,191,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. increased its position in shares of DT Midstream by 61.6% during the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company's stock worth $30,000 after acquiring an additional 117 shares in the last quarter. AdvisorNet Financial Inc grew its position in DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock worth $31,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC grew its position in DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock worth $34,000 after purchasing an additional 163 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in DT Midstream in the 3rd quarter worth about $29,000. Finally, UMB Bank n.a. grew its position in DT Midstream by 53.2% in the 4th quarter. UMB Bank n.a. now owns 481 shares of the company's stock worth $48,000 after purchasing an additional 167 shares in the last quarter. 81.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the business's stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now 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 legal filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by company insiders.

DT Midstream Price Performance

DT Midstream stock traded up $0.52 during midday trading on Thursday, hitting $97.72. 712,030 shares of the company's stock were exchanged, compared to its average volume of 851,392. DT Midstream, Inc. has a 52-week low of $61.01 and a 52-week high of $114.50. The stock has a 50-day moving average price of $94.86 and a two-hundred day moving average price of $98.25. 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 company has a market cap of $9.93 billion, a P/E ratio of 23.85 and a beta of 0.77.

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

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.36%. This is a boost from DT Midstream's previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Monday, March 17th. DT Midstream's payout ratio is presently 91.11%.

Analysts Set New Price Targets

A number of brokerages have issued reports on DTM. Bank of America began coverage on shares of DT Midstream in a research report on Monday, March 24th. They issued a "buy" rating and a $110.00 price objective for the company. Barclays reduced their price objective on shares of DT Midstream from $107.00 to $102.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Morgan Stanley raised their price target 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. US Capital Advisors downgraded DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday. Finally, Williams Trading set a $110.00 target price on DT Midstream in a research report on Monday, March 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $108.27.

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.