Richard Bernstein Advisors LLC Sells 2,361 Shares of DT Midstream, Inc. (NYSE:DTM)

Richard Bernstein Advisors LLC reduced its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 4.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,433 shares of the company's stock after selling 2,361 shares during the period. Richard Bernstein Advisors LLC owned approximately 0.05% of DT Midstream worth $5,348,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DTM. Alpine Bank Wealth Management acquired a new position in DT Midstream during the first quarter valued at $26,000. Bessemer Group Inc. lifted its position in DT Midstream by 61.6% during the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company's stock valued at $30,000 after purchasing an additional 117 shares during the period. Versant Capital Management Inc lifted its position 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 purchasing an additional 276 shares during the period. Larson Financial Group LLC lifted its position in DT Midstream by 21.1% during the fourth quarter. Larson Financial Group LLC now owns 683 shares of the company's stock valued at $68,000 after purchasing an additional 119 shares during the period. Finally, UMB Bank n.a. lifted its position in DT Midstream by 50.3% during the first quarter. UMB Bank n.a. now owns 723 shares of the company's stock valued at $70,000 after purchasing an additional 242 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DTM shares. Bank of America started coverage on shares of DT Midstream in a research report on Monday, March 24th. They issued a "buy" rating and a $110.00 price objective for the company. US Capital Advisors cut shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Williams Trading set a $110.00 price target on shares of DT Midstream in a research note on Monday, March 24th. Barclays increased their price objective on shares of DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. Finally, Morgan Stanley set a $115.00 price objective on shares of DT Midstream and gave the stock an "underweight" rating in a research report on Tuesday, June 3rd. 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 stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $109.27.

DT Midstream Stock Up 0.6%

DTM stock traded up $0.58 during midday trading on Thursday, reaching $102.69. The company had a trading volume of 1,343,464 shares, compared to its average volume of 910,851. DT Midstream, Inc. has a 1 year low of $69.27 and a 1 year high of $114.50. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $10.43 billion, a P/E ratio of 27.98, a PEG ratio of 1.64 and a beta of 0.78. The company has a 50 day moving average of $104.60 and a two-hundred day moving average of $100.89.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings data 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 return on equity of 8.46% and a net margin of 34.96%. The company 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 posted $0.99 EPS. 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders 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 dividend yield of 3.19%. DT Midstream's dividend payout ratio (DPR) is currently 89.37%.

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.