Bank of New York Mellon Corp Sells 24,522 Shares of DT Midstream, Inc. (NYSE:DTM)

Bank of New York Mellon Corp trimmed its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,026,986 shares of the company's stock after selling 24,522 shares during the period. Bank of New York Mellon Corp owned approximately 1.01% of DT Midstream worth $99,084,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp increased 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 worth $76,000 after purchasing an additional 100 shares in the last quarter. Victory Capital Management Inc. increased its stake in DT Midstream by 0.9% during the 4th quarter. Victory Capital Management Inc. now owns 114,347 shares of the company's stock worth $11,370,000 after purchasing an additional 973 shares in the last quarter. Raymond James Financial Inc. bought a new stake in DT Midstream during the 4th quarter worth approximately $8,569,000. Larson Financial Group LLC increased its stake in DT Midstream by 21.1% during the 4th quarter. Larson Financial Group LLC now owns 683 shares of the company's stock worth $68,000 after purchasing an additional 119 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in DT Midstream by 11.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,113 shares of the company's stock worth $2,398,000 after purchasing an additional 2,481 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Stock Up 0.6%

Shares of NYSE DTM traded up $0.62 during midday trading on Friday, reaching $103.28. The company's stock had a trading volume of 574,236 shares, compared to its average volume of 910,721. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a fifty-two week low of $69.82 and a fifty-two week high of $114.50. The stock has a market capitalization of $10.49 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.64 and a beta of 0.78. The stock has a 50 day simple moving average of $104.75 and a 200-day simple moving average of $100.90.

DT Midstream (NYSE:DTM - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.01). DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. The firm had revenue of $288.81 million during the quarter, compared to the consensus estimate of $285.48 million. During the same period in the prior year, the business posted $0.99 earnings per share. Equities research analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be paid a $0.82 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.28 annualized dividend and a dividend yield of 3.18%. DT Midstream's dividend payout ratio is presently 89.37%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. US Capital Advisors cut DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Morgan Stanley set a $115.00 target price on DT Midstream and gave the stock an "underweight" rating in a research note on Tuesday, June 3rd. UBS Group increased 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. Williams Trading set a $110.00 target price on DT Midstream in a research note on Monday, March 24th. Finally, Bank of America initiated coverage on shares of DT Midstream in a report on Monday, March 24th. They issued a "buy" rating and a $110.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $109.27.

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.