DT Midstream, Inc. (NYSE:DTM) Shares Sold by Millennium Management LLC

Millennium Management LLC lessened its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 48.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 187,084 shares of the company's stock after selling 173,469 shares during the quarter. Millennium Management LLC owned about 0.19% of DT Midstream worth $18,602,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of DT Midstream by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock valued at $1,049,363,000 after acquiring an additional 359,017 shares in the last quarter. Deutsche Bank AG lifted its position in shares of DT Midstream by 5.5% in the fourth quarter. Deutsche Bank AG now owns 2,831,830 shares of the company's stock valued at $281,569,000 after acquiring an additional 147,790 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of DT Midstream by 18.7% in the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock valued at $243,948,000 after acquiring an additional 386,670 shares in the last quarter. Blackstone Inc. lifted its position in shares of DT Midstream by 2,783.1% in the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock valued at $162,199,000 after acquiring an additional 1,574,705 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of DT Midstream by 24.7% in the fourth quarter. Invesco Ltd. now owns 1,487,901 shares of the company's stock valued at $147,942,000 after acquiring an additional 294,583 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

Insider Buying and Selling at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company's stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the purchase, the director now owns 38,653 shares of the company's stock, valued at $3,359,718.76. This represents a 2.66% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders have acquired 1,235 shares of company stock worth $109,867 over the last quarter. 0.34% of the stock is currently owned by company insiders.

DT Midstream Trading Up 1.5%

NYSE:DTM traded up $1.57 on Tuesday, reaching $105.64. The company's stock had a trading volume of 743,573 shares, compared to its average volume of 874,798. DT Midstream, Inc. has a 12-month low of $65.45 and a 12-month high of $114.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 25.70 and a beta of 0.77. The stock has a 50 day moving average price of $98.01 and a 200 day moving average price of $100.01.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.01). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The business had revenue of $288.81 million during the quarter, compared to analysts' expectations of $285.48 million. During the same quarter in the prior year, the firm earned $0.99 EPS. On average, equities analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current fiscal 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 given a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a yield of 3.10%. DT Midstream's dividend payout ratio is currently 89.37%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DTM shares. Raymond James raised their target price on DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Barclays lifted their price objective 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. US Capital Advisors downgraded DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Stifel Nicolaus reduced their price objective on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, Bank of America initiated coverage on DT Midstream in a research report on Monday, March 24th. They set a "buy" rating and a $110.00 price objective on the stock. 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 MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $108.36.

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.