Bank of America Corp DE Sells 95,433 Shares of DT Midstream, Inc. (NYSE:DTM)

Bank of America Corp DE trimmed its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 26.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,732 shares of the company's stock after selling 95,433 shares during the period. Bank of America Corp DE owned approximately 0.27% of DT Midstream worth $26,521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its stake in DT Midstream by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company's stock valued at $2,685,000 after purchasing an additional 100 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in DT Midstream by 15.0% during the 4th quarter. Jones Financial Companies Lllp now owns 768 shares of the company's stock valued at $76,000 after purchasing an additional 100 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in DT Midstream by 17.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company's stock valued at $69,000 after purchasing an additional 105 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of DT Midstream by 1.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company's stock worth $1,235,000 after buying an additional 116 shares during the last quarter. Finally, Lakeshore Financial Planning Inc. boosted its stake in shares of DT Midstream by 4.2% in the 4th quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company's stock worth $285,000 after buying an additional 116 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

DT Midstream Stock Performance

DT Midstream stock traded up $2.00 during trading on Friday, hitting $104.09. The stock had a trading volume of 633,014 shares, compared to its average volume of 874,877. DT Midstream, Inc. has a 1 year low of $65.43 and a 1 year high of $114.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock's 50 day moving average is $97.78 and its two-hundred day moving average is $99.88. The stock has a market cap of $10.57 billion, a price-to-earnings ratio of 25.33 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings data 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 net margin of 41.19% and a return on equity of 9.31%. The firm had revenue of $288.81 million during the quarter, compared to analysts' expectations of $285.48 million. During the same quarter in the previous year, the company posted $0.99 EPS. As a group, analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company's stock in a transaction 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 transaction, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. The trade was a 2.66% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have purchased a total of 1,235 shares of company stock worth $109,867 over the last 90 days. Corporate insiders own 0.34% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DTM shares. Barclays boosted their target price on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Morgan Stanley boosted 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. UBS Group boosted 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. Stifel Nicolaus cut their target price on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Williams Trading set a $110.00 target price on DT Midstream in a research note on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $108.36.

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.