Hennessy Advisors Inc. Sells 7,060 Shares of DT Midstream, Inc. (NYSE:DTM)

Hennessy Advisors Inc. reduced its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 4.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 169,240 shares of the company's stock after selling 7,060 shares during the period. Hennessy Advisors Inc. owned 0.17% of DT Midstream worth $16,328,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. increased its stake in shares of DT Midstream by 61.6% in the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company's stock valued at $30,000 after buying an additional 117 shares during the period. Versant Capital Management Inc grew its stake in shares of DT Midstream by 130.2% during the first quarter. Versant Capital Management Inc now owns 488 shares of the company's stock worth $47,000 after purchasing an additional 276 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of DT Midstream during the fourth quarter worth $50,000. Wilmington Savings Fund Society FSB lifted its stake in DT Midstream by 38.3% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 509 shares of the company's stock valued at $51,000 after buying an additional 141 shares during the period. Finally, Larson Financial Group LLC lifted its stake in DT Midstream by 21.1% in the fourth quarter. Larson Financial Group LLC now owns 683 shares of the company's stock valued at $68,000 after buying an additional 119 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DTM. Morgan Stanley set a $115.00 target price on DT Midstream and gave the stock an "underweight" rating in a report on Tuesday, June 3rd. US Capital Advisors cut DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Bank of America began coverage on DT Midstream in a report on Monday, March 24th. They set a "buy" rating and a $110.00 target price on the stock. UBS Group raised their target price on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, Barclays raised their target price on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Two 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.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $109.27.

DT Midstream Stock Down 0.0%

Shares of NYSE:DTM traded down $0.01 during trading on Friday, hitting $106.23. 620,625 shares of the company's stock traded hands, compared to its average volume of 889,323. DT Midstream, Inc. has a 52 week low of $66.98 and a 52 week high of $114.50. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a market cap of $10.79 billion, a price-to-earnings ratio of 25.85 and a beta of 0.78. The company has a 50-day moving average price of $100.71 and a 200-day moving average price of $100.27.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter last year, the firm earned $0.99 EPS. As a group, research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The company also recently announced 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. This represents a $3.28 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream's payout ratio is 89.37%.

About DT Midstream

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.