Exchange Traded Concepts LLC Lowers Position in DT Midstream, Inc. (NYSE:DTM)

Exchange Traded Concepts LLC decreased its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 5.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 111,499 shares of the company's stock after selling 6,119 shares during the period. Exchange Traded Concepts LLC owned 0.11% of DT Midstream worth $10,757,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Jones Financial Companies Lllp increased its position 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 buying an additional 100 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in DT Midstream by 1.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company's stock worth $1,235,000 after acquiring an additional 116 shares in the last quarter. Lakeshore Financial Planning Inc. grew its stake in shares of DT Midstream by 4.2% in the fourth quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company's stock worth $285,000 after acquiring an additional 116 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of DT Midstream by 61.6% during the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company's stock valued at $30,000 after acquiring an additional 117 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of DT Midstream by 21.1% during the fourth quarter. Larson Financial Group LLC now owns 683 shares of the company's stock valued at $68,000 after acquiring an additional 119 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DTM has been the topic of a number of analyst reports. Stifel Nicolaus dropped their price target on shares of DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Barclays upped their target price on shares of DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. UBS Group raised 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. Bank of America initiated coverage on DT Midstream in a research report on Monday, March 24th. They issued a "buy" rating and a $110.00 price objective on the stock. Finally, Morgan Stanley set a $115.00 target price on DT Midstream and gave the company an "underweight" rating in a research note on Tuesday, June 3rd. 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $109.27.

DT Midstream Stock Performance

DTM traded up $1.15 during mid-day trading on Thursday, reaching $105.31. 804,307 shares of the company traded hands, compared to its average volume of 892,548. The company's fifty day moving average price is $101.51 and its 200-day moving average price is $100.28. The stock has a market capitalization of $10.70 billion, a P/E ratio of 28.69, a P/E/G ratio of 1.66 and a beta of 0.78. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a 52-week low of $68.57 and a 52-week high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last issued 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). The firm had revenue of $288.81 million during the quarter, compared to the consensus estimate 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 previous year, the firm earned $0.99 EPS. On average, sell-side analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a yield of 3.11%. 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.