DT Midstream, Inc. (NYSE:DTM) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 29.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,374 shares of the company's stock after selling 7,152 shares during the quarter. SG Americas Securities LLC's holdings in DT Midstream were worth $1,676,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of DTM. Blackstone Inc. grew its stake 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 worth $162,199,000 after acquiring an additional 1,574,705 shares in the last quarter. Norges Bank acquired a new position in DT Midstream during the 4th quarter worth $119,520,000. Zimmer Partners LP acquired a new position in DT Midstream during the 4th quarter worth $74,572,000. Westwood Holdings Group Inc. increased its holdings in DT Midstream by 108.8% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock worth $107,784,000 after purchasing an additional 564,899 shares during the period. Finally, Bank of Montreal Can raised its position in DT Midstream by 733.3% in the 4th quarter. Bank of Montreal Can now owns 458,789 shares of the company's stock valued at $45,617,000 after purchasing an additional 403,730 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DTM shares. Williams Trading set a $110.00 price objective on DT Midstream in a research note on Monday, March 24th. Wells Fargo & Company lowered their price target on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Morgan Stanley set a $115.00 price objective on shares of DT Midstream and gave the company an "underweight" rating in a research report on Tuesday, June 3rd. Barclays raised their price objective on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Finally, Stifel Nicolaus lowered their target price on shares of DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $109.27.

DT Midstream Stock Up 1.1%

Shares of DT Midstream stock traded up $1.15 during trading hours on Thursday, hitting $105.31. The company had a trading volume of 804,307 shares, compared to its average volume of 892,548. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.82 and a quick ratio of 0.82. The company's 50-day moving average is $101.51 and its two-hundred day moving average is $100.28. The company has a market cap of $10.70 billion, a P/E ratio of 28.69, a price-to-earnings-growth ratio of 1.66 and a beta of 0.78. DT Midstream, Inc. has a twelve month low of $68.57 and a twelve month high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.01). The company had revenue of $288.81 million during the quarter, compared to analysts' expectations of $285.48 million. DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. During the same period last year, the firm earned $0.99 earnings per share. Analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The company 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 $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 dividend yield of 3.11%. DT Midstream's dividend payout ratio (DPR) is presently 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.