Mackenzie Financial Corp Sells 6,747 Shares of DT Midstream, Inc. (NYSE:DTM)

Mackenzie Financial Corp trimmed its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 29.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,437 shares of the company's stock after selling 6,747 shares during the period. Mackenzie Financial Corp's holdings in DT Midstream were worth $1,586,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DTM. O Shaughnessy Asset Management LLC increased its position in DT Midstream by 20.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 4,181 shares of the company's stock valued at $416,000 after buying an additional 713 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of DT Midstream by 26.9% in the 4th quarter. Alliancebernstein L.P. now owns 164,879 shares of the company's stock worth $16,394,000 after buying an additional 34,958 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of DT Midstream in the 4th quarter worth approximately $3,002,000. Landscape Capital Management L.L.C. purchased a new position in shares of DT Midstream in the 4th quarter worth approximately $744,000. Finally, Wells Fargo & Company MN lifted its stake in DT Midstream by 9.9% in the fourth quarter. Wells Fargo & Company MN now owns 53,756 shares of the company's stock valued at $5,345,000 after purchasing an additional 4,841 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

DT Midstream Trading Up 0.2%

Shares of DT Midstream stock opened at $105.83 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.88. DT Midstream, Inc. has a 1-year low of $69.82 and a 1-year high of $114.50. The company's fifty day simple moving average is $104.64 and its 200-day simple moving average is $100.62. The stock has a market capitalization of $10.75 billion, a PE ratio of 28.37, a P/E/G ratio of 1.91 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.06. The company had revenue of $299.00 million for the quarter, compared to the consensus estimate of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same period in the previous year, the firm posted $0.98 EPS. As a group, equities analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.1%. DT Midstream's payout ratio is currently 87.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus boosted their target price on shares of DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a report on Friday. Morgan Stanley set a $115.00 price target on shares of DT Midstream and gave the company an "underweight" rating in a research report on Tuesday, June 3rd. US Capital Advisors lowered shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Wells Fargo & Company increased their price target on shares of DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Barclays raised their target price 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, DT Midstream currently has an average rating of "Hold" and a consensus price target of $110.64.

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.

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