Hennessy Advisors Inc. decreased its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 169,240 shares of the company's stock after selling 7,060 shares during the quarter. Hennessy Advisors Inc. owned 0.17% of DT Midstream worth $16,328,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently modified their holdings of DTM. Wealth Enhancement Advisory Services LLC grew its stake in shares of DT Midstream by 6.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,642 shares of the company's stock worth $1,220,000 after purchasing an additional 812 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of DT Midstream by 2.3% in the first quarter. Yousif Capital Management LLC now owns 34,932 shares of the company's stock valued at $3,370,000 after buying an additional 776 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of DT Midstream by 24.7% in the first quarter. Farther Finance Advisors LLC now owns 1,495 shares of the company's stock valued at $147,000 after buying an additional 296 shares in the last quarter. City Holding Co. increased its holdings in shares of DT Midstream by 6.2% in the first quarter. City Holding Co. now owns 19,603 shares of the company's stock valued at $1,891,000 after buying an additional 1,138 shares in the last quarter. Finally, Capital Investment Advisors LLC grew its holdings in shares of DT Midstream by 7.5% in the 1st quarter. Capital Investment Advisors LLC now owns 3,107 shares of the company's stock worth $300,000 after acquiring an additional 217 shares during the last quarter. Institutional investors own 81.53% of the company's stock.
DT Midstream Price Performance
DTM traded down $0.88 during trading on Tuesday, hitting $104.12. The company's stock had a trading volume of 732,805 shares, compared to its average volume of 1,064,914. The firm's 50 day moving average price is $101.04 and its two-hundred day moving average price is $100.22. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a 12 month low of $67.33 and a 12 month high of $114.50. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 25.33 and a beta of 0.78.
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 analysts' consensus estimates of $1.07 by ($0.01). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The firm had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. During the same quarter in the previous year, the firm earned $0.99 EPS. Sell-side analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share 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 annualized dividend and a yield of 3.15%. DT Midstream's dividend payout ratio is 89.37%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on DTM shares. Bank of America assumed coverage on DT Midstream in a research report on Monday, March 24th. They issued a "buy" rating and a $110.00 price target for the company. US Capital Advisors lowered shares of 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 price objective on shares of DT Midstream and gave the company an "underweight" rating in a research note on Tuesday, June 3rd. Barclays upped their price objective on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company decreased their price objective on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Two 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. According to data from MarketBeat.com, DT Midstream currently has a consensus rating of "Hold" and an average price target of $109.27.
Check Out Our Latest Stock Report on DT Midstream
About DT Midstream
(
Free Report)
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.
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