Ameriprise Financial Inc. Decreases Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Ameriprise Financial Inc. decreased its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,280 shares of the company's stock after selling 5,578 shares during the quarter. Ameriprise Financial Inc. owned 0.11% of DT Midstream worth $11,075,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of DTM. Vanguard Group Inc. boosted its position in DT Midstream by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock worth $1,049,363,000 after purchasing an additional 359,017 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 buying an additional 386,670 shares during the last quarter. Invesco Ltd. raised its stake in shares of DT Midstream by 24.7% during the 4th quarter. Invesco Ltd. now owns 1,487,901 shares of the company's stock worth $147,942,000 after buying an additional 294,583 shares during the last quarter. Norges Bank purchased a new stake in shares of DT Midstream in the 4th quarter worth about $119,520,000. Finally, Northern Trust Corp grew its stake in DT Midstream by 37.7% in the 4th quarter. Northern Trust Corp now owns 1,062,397 shares of the company's stock valued at $105,634,000 after acquiring an additional 291,039 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

Wall Street Analysts Forecast Growth

DTM has been the subject of a number of research reports. UBS Group lifted their target price on shares of DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Morgan Stanley lifted their price objective on DT Midstream from $92.00 to $105.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 25th. US Capital Advisors lowered DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Williams Trading set a $110.00 price target on DT Midstream in a research report on Monday, March 24th. Finally, Bank of America initiated 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $108.36.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the acquisition, the director now owns 38,653 shares of the company's stock, valued at $3,359,718.76. The trade was a 2.66% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders purchased 1,235 shares of company stock worth $109,867. 0.34% of the stock is owned by company insiders.

DT Midstream Trading Down 0.3%

Shares of DTM stock traded down $0.27 during mid-day trading on Thursday, hitting $102.20. 676,967 shares of the company's stock were exchanged, compared to its average volume of 873,268. The stock has a market cap of $10.38 billion, a price-to-earnings ratio of 24.87 and a beta of 0.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a fifty-two week low of $65.43 and a fifty-two week high of $114.50. The stock has a 50-day simple moving average of $97.51 and a two-hundred day simple moving average of $99.71.

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

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a yield of 3.21%. DT Midstream's payout ratio is 89.37%.

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.