Axxcess Wealth Management LLC Has $242,000 Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Axxcess Wealth Management LLC trimmed its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 67.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,513 shares of the company's stock after selling 5,174 shares during the quarter. Axxcess Wealth Management LLC's holdings in DT Midstream were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Blackstone Inc. increased its position in DT Midstream by 2,783.1% during the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock valued at $162,199,000 after purchasing an additional 1,574,705 shares during the period. Norges Bank acquired a new stake in shares of DT Midstream during the fourth quarter worth $119,520,000. Zimmer Partners LP bought a new position in DT Midstream during the fourth quarter worth $74,572,000. Westwood Holdings Group Inc. lifted its holdings in DT Midstream by 108.8% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock valued at $107,784,000 after buying an additional 564,899 shares during the period. Finally, 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. 81.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on DTM. UBS Group lifted their price objective on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Bank of America began coverage on DT Midstream in a report on Monday, March 24th. They issued a "buy" rating and a $110.00 target price for the company. Barclays boosted their price target on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Williams Trading set a $110.00 price objective on shares of DT Midstream in a research report on Monday, March 24th. Finally, US Capital Advisors downgraded shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Two investment 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 MarketBeat, DT Midstream presently has a consensus rating of "Hold" and an average price target of $109.27.

DT Midstream Price Performance

Shares of DTM opened at $103.28 on Monday. The business's fifty day moving average is $104.75 and its 200 day moving average is $100.89. DT Midstream, Inc. has a 12-month low of $69.82 and a 12-month high of $114.50. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.69. The stock has a market cap of $10.49 billion, a P/E ratio of 28.14, a P/E/G ratio of 1.65 and a beta of 0.78.

DT Midstream (NYSE:DTM - Get Free Report) last released 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 business had revenue of $288.81 million during the quarter, compared to the consensus estimate of $285.48 million. DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. During the same period last year, the business posted $0.99 earnings per share. Sell-side analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Monday, June 16th. DT Midstream's dividend payout ratio is currently 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.

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