Ethic Inc. Trims Position in DT Midstream, Inc. (NYSE:DTM)

Ethic Inc. cut its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,691 shares of the company's stock after selling 8,751 shares during the quarter. Ethic Inc.'s holdings in DT Midstream were worth $4,145,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in DT Midstream in the 3rd quarter worth about $29,000. Bessemer Group Inc. increased its holdings in DT Midstream by 61.6% in the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company's stock worth $30,000 after acquiring an additional 117 shares during the last quarter. AdvisorNet Financial Inc increased its holdings 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 acquiring an additional 160 shares during the last quarter. Sound Income Strategies LLC increased its holdings 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 acquiring an additional 163 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake 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 during the period. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Price Performance

Shares of DTM traded up $0.67 during trading hours on Friday, reaching $104.20. 147,982 shares of the company's stock traded hands, compared to its average volume of 867,457. The stock has a market cap of $10.59 billion, a PE ratio of 25.35 and a beta of 0.77. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm's 50 day simple moving average is $96.67 and its 200-day simple moving average is $99.33. DT Midstream, Inc. has a 12 month low of $65.43 and a 12 month high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.01). The firm had revenue of $288.81 million for 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 prior year, the business posted $0.99 earnings per share. Equities analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.15%. DT Midstream's dividend payout ratio is 89.37%.

Analyst Ratings Changes

Several research analysts have commented on the company. Bank of America assumed coverage on DT Midstream in a research note on Monday, March 24th. They issued a "buy" rating and a $110.00 target price for the company. UBS Group raised their target price on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Barclays cut their target price on 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. Williams Trading set a $110.00 target price on DT Midstream in a research note on Monday, March 24th. Finally, Morgan Stanley raised their target price on DT Midstream from $92.00 to $105.00 and gave the stock an "underweight" rating in a research note on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $108.27.

Insider Activity at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm's stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of $86.92 per share, with a total value of $86,920.00. Following the purchase, the director now directly owns 38,653 shares of the company's stock, valued at approximately $3,359,718.76. This trade represents a 2.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have bought 1,235 shares of company stock valued at $109,867. Corporate 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.