TD Asset Management Inc Lowers Position in DT Midstream, Inc. (NYSE:DTM)

Key Points

• TD Asset Management Inc reduced its stake in DT Midstream, Inc. by 64.5% during Q1, leaving them with 9,104 shares valued at $878,000.
• Analysts have mixed opinions on DT Midstream, with two sell ratings, three hold ratings, and six buy ratings, leading to a consensus rating of "Hold" and a target price of $110.64.
• The company recently declared a quarterly dividend of $0.82, equating to an annualized yield of 3.1%, with a payout ratio of 87.94%.

TD Asset Management Inc cut its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 64.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,104 shares of the company's stock after selling 16,524 shares during the quarter. TD Asset Management Inc's holdings in DT Midstream were worth $878,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Deutsche Bank AG boosted its holdings in shares of DT Midstream by 5.5% during the 4th 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. Blackstone Inc. boosted its position in DT Midstream by 2,783.1% during the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock worth $162,199,000 after buying an additional 1,574,705 shares during the period. Invesco Ltd. grew its holdings in DT Midstream by 24.7% during the 4th quarter. Invesco Ltd. now owns 1,487,901 shares of the company's stock worth $147,942,000 after acquiring an additional 294,583 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in shares of DT Midstream by 108.8% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock valued at $107,784,000 after acquiring an additional 564,899 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of DT Midstream by 37.7% during the fourth quarter. Northern Trust Corp now owns 1,062,397 shares of the company's stock worth $105,634,000 after purchasing an additional 291,039 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DTM has been the topic of a number of analyst reports. Stifel Nicolaus increased their price target on DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Morgan Stanley increased their target price on shares of DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research report on Wednesday. US Capital Advisors lowered shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Wells Fargo & Company increased their price objective on shares of DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Barclays upped their price target on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, DT Midstream currently has a consensus rating of "Hold" and a consensus target price of $110.91.

DT Midstream Stock Performance

DTM traded down $0.16 during trading hours on Thursday, hitting $104.17. The stock had a trading volume of 575,608 shares, compared to its average volume of 1,024,689. DT Midstream, Inc. has a 1 year low of $71.97 and a 1 year high of $114.50. The company's fifty day simple moving average is $104.59 and its 200 day simple moving average is $100.66. The stock has a market cap of $10.58 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.88 and a beta of 0.77. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69.

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

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 annualized dividend and a yield of 3.1%. DT Midstream's payout ratio is 87.94%.

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.