DT Midstream, Inc. (NYSE:DTM) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 14.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 97,566 shares of the company's stock after selling 16,781 shares during the period. Victory Capital Management Inc. owned 0.10% of DT Midstream worth $9,413,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blackstone Inc. raised its position in 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 purchasing an additional 1,574,705 shares during the period. Norges Bank purchased a new stake in shares of DT Midstream in the 4th quarter valued at $119,520,000. Zimmer Partners LP purchased a new stake in shares of DT Midstream in the 4th quarter valued at $74,572,000. Westwood Holdings Group Inc. raised its holdings in shares of DT Midstream by 108.8% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock valued at $107,784,000 after buying an additional 564,899 shares during the period. Finally, Bank of Montreal Can raised its holdings in shares of 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 buying an additional 403,730 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays boosted their price objective on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. US Capital Advisors downgraded DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Finally, Morgan Stanley set a $115.00 price objective on DT Midstream and gave the company an "underweight" rating in a report on Tuesday, June 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, DT Midstream currently has a consensus rating of "Hold" and an average target price of $109.27.

DT Midstream Stock Performance

DTM traded down $0.84 on Monday, hitting $99.32. 35,072 shares of the company traded hands, compared to its average volume of 1,027,826. The company has a 50 day moving average of $104.75 and a 200-day moving average of $100.86. 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 stock has a market capitalization of $10.09 billion, a PE ratio of 27.07, a PEG ratio of 1.81 and a beta of 0.78. DT Midstream, Inc. has a 12-month low of $69.82 and a 12-month high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). The company had revenue of $288.81 million for 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 in the prior year, the company earned $0.99 earnings per share. Sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 16th were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.30%. The ex-dividend date was Monday, June 16th. DT Midstream's payout ratio 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.