DT Midstream, Inc. (NYSE:DTM) Stock Position Reduced by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC cut its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 67.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC bought a new stake in DT Midstream in the 1st quarter valued at about $274,000. Bessemer Group Inc. lifted its position in DT Midstream by 44.0% in the 1st quarter. Bessemer Group Inc. now owns 442 shares of the company's stock valued at $43,000 after purchasing an additional 135 shares during the last quarter. True Link Financial Advisors LLC bought a new stake in DT Midstream in the 1st quarter valued at about $238,000. Thrivent Financial for Lutherans lifted its position in DT Midstream by 55.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the company's stock valued at $3,536,000 after purchasing an additional 12,755 shares during the last quarter. Finally, Catalyst Capital Advisors LLC lifted its position in DT Midstream by 10.1% in the 1st quarter. Catalyst Capital Advisors LLC now owns 144,025 shares of the company's stock valued at $13,896,000 after purchasing an additional 13,243 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on DTM. Williams Trading set a $110.00 price objective on shares of DT Midstream in a research report on Monday, March 24th. Bank of America assumed coverage on shares of DT Midstream in a research report on Monday, March 24th. They set a "buy" rating and a $110.00 price target on the stock. UBS Group upped their price target on shares of DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Morgan Stanley set a $115.00 price objective on shares of DT Midstream and gave the company an "underweight" rating in a report on Tuesday, June 3rd. Finally, US Capital Advisors cut shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, DT Midstream has an average rating of "Hold" and a consensus target price of $109.27.

DT Midstream Price Performance

Shares of DTM traded down $0.72 during mid-day trading on Thursday, hitting $102.53. The company's stock had a trading volume of 689,965 shares, compared to its average volume of 915,240. The firm has a 50-day moving average price of $104.95 and a 200 day moving average price of $100.98. The stock has a market capitalization of $10.42 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 1.67 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.82 and a quick ratio of 0.82. DT Midstream, Inc. has a fifty-two week low of $69.82 and a fifty-two week 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 (EPS) for the quarter, missing the consensus estimate 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 8.46% and a net margin of 34.96%. During the same period in the prior year, the firm earned $0.99 EPS. On average, research analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th were paid a $0.82 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $3.28 annualized dividend and a dividend yield of 3.20%. DT Midstream's dividend payout ratio is currently 89.37%.

DT Midstream 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.