DT Midstream, Inc. (NYSE:DTM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blackstone Inc. lifted its position in shares of DT Midstream by 2,783.1% during the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock worth $162,199,000 after purchasing an additional 1,574,705 shares during the last quarter. Norges Bank purchased a new stake in shares of DT Midstream during the 4th quarter worth $119,520,000. Zimmer Partners LP purchased a new stake in shares of DT Midstream during the 4th quarter worth $74,572,000. Westwood Holdings Group Inc. lifted its position in shares of DT Midstream by 108.8% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock worth $107,784,000 after purchasing an additional 564,899 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in shares of DT Midstream by 733.3% during the 4th quarter. Bank of Montreal Can now owns 458,789 shares of the company's stock worth $45,617,000 after purchasing an additional 403,730 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Stock Performance

NYSE DTM traded up $0.62 during trading on Friday, reaching $103.28. The company's stock had a trading volume of 574,236 shares, compared to its average volume of 912,765. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of 28.14, a P/E/G ratio of 1.65 and a beta of 0.78. DT Midstream, Inc. has a twelve month low of $69.82 and a twelve month high of $114.50. The business's fifty day moving average price is $104.75 and its 200-day moving average price is $100.89.

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 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 net margin of 34.96% and a return on equity of 8.46%. During the same quarter in the prior year, the firm posted $0.99 earnings per share. As a group, analysts anticipate 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 will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid 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 3.18%. DT Midstream's dividend payout ratio is presently 89.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Morgan Stanley set a $115.00 price objective on shares of DT Midstream and gave the stock an "underweight" rating in a research report on Tuesday, June 3rd. Bank of America began coverage on shares of DT Midstream in a research report on Monday, March 24th. They issued a "buy" rating and a $110.00 price target for the company. UBS Group boosted their price target on shares of DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. US Capital Advisors cut shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Barclays boosted their price target on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $109.27.

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.