Miller Howard Investments Inc. NY Lowers Stake in DT Midstream, Inc. (NYSE:DTM)

Miller Howard Investments Inc. NY cut its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 21.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 179,272 shares of the company's stock after selling 47,915 shares during the period. Miller Howard Investments Inc. NY owned 0.18% of DT Midstream worth $17,296,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new position in shares of DT Midstream during the first quarter valued at approximately $26,000. Bessemer Group Inc. increased its position in DT Midstream by 61.6% during 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 in the last quarter. Versant Capital Management Inc raised its stake in DT Midstream by 130.2% during the first quarter. Versant Capital Management Inc now owns 488 shares of the company's stock valued at $47,000 after buying an additional 276 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in DT Midstream during the fourth quarter valued at $50,000. Finally, Larson Financial Group LLC boosted its holdings in DT Midstream by 21.1% in the fourth quarter. Larson Financial Group LLC now owns 683 shares of the company's stock worth $68,000 after acquiring an additional 119 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Performance

Shares of DT Midstream stock traded up $0.93 during trading hours on Wednesday, reaching $105.88. 1,119,969 shares of the stock traded hands, compared to its average volume of 905,404. DT Midstream, Inc. has a one year low of $68.88 and a one year high of $114.50. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 1.75 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. The company has a 50 day moving average price of $103.83 and a 200 day moving average price of $100.65.

DT Midstream (NYSE:DTM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.01). DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. The business had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. During the same quarter last year, the firm posted $0.99 earnings per share. On average, equities research analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 annualized dividend and a yield of 3.10%. DT Midstream's dividend payout ratio (DPR) is presently 89.37%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DTM. Williams Trading set a $110.00 price target on shares of DT Midstream in a research note on Monday, March 24th. UBS Group increased their price target on shares of DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Morgan Stanley set a $115.00 price objective on shares of DT Midstream and gave the stock an "underweight" rating in a report on Tuesday, June 3rd. US Capital Advisors downgraded DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Barclays boosted their price target on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, DT Midstream presently has a consensus rating of "Hold" and an average price target of $109.27.

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.