DT Midstream, Inc. (NYSE:DTM) Shares Sold by Burns Matteson Capital Management LLC

Burns Matteson Capital Management LLC trimmed its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 47.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,953 shares of the company's stock after selling 3,544 shares during the quarter. Burns Matteson Capital Management LLC's holdings in DT Midstream were worth $381,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group increased their price objective on shares of DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, March 27th. US Capital Advisors downgraded DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Williams Trading set a $110.00 target price on DT Midstream in a research report on Monday, March 24th. Barclays raised their price target on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. Finally, Morgan Stanley set a $115.00 price target on DT Midstream and gave the stock an "underweight" rating in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $109.27.

DT Midstream Stock Down 0.7%

DTM traded down $0.72 on Thursday, hitting $102.53. The company had a trading volume of 689,965 shares, compared to its average volume of 915,240. The stock has a fifty day moving average price of $104.95 and a 200-day moving average price of $100.98. DT Midstream, Inc. has a 12-month low of $69.82 and a 12-month high of $114.50. 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 stock has a market capitalization of $10.42 billion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 1.67 and a beta of 0.78.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings results 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). DT Midstream had a return on equity of 8.46% and a net margin of 34.96%. The business had revenue of $288.81 million for the quarter, compared to analysts' expectations of $285.48 million. During the same quarter in the previous year, the firm posted $0.99 EPS. Analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

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

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.