Vident Advisory LLC Has $2.20 Million Holdings in DT Midstream, Inc. (NYSE:DTM)

Vident Advisory LLC lifted its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 512.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,071 shares of the company's stock after acquiring an additional 18,466 shares during the quarter. Vident Advisory LLC's holdings in DT Midstream were worth $2,195,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bessemer Group Inc. increased its position in shares of DT Midstream by 61.6% in the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company's stock valued at $30,000 after acquiring an additional 117 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock valued at $34,000 after acquiring an additional 163 shares during the last quarter. UMB Bank n.a. increased its position in shares of DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company's stock valued at $48,000 after acquiring an additional 167 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of DT Midstream in the fourth quarter valued at about $50,000. Finally, Wilmington Savings Fund Society FSB grew its holdings in DT Midstream by 38.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 509 shares of the company's stock worth $51,000 after purchasing an additional 141 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DTM. US Capital Advisors cut DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Williams Trading set a $110.00 price target on DT Midstream in a report on Monday, March 24th. Wells Fargo & Company reduced their price target on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a report on Friday, February 28th. UBS Group lifted their price target on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, Barclays lifted their price target on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $108.36.

DT Midstream Stock Performance

Shares of NYSE:DTM traded up $1.64 during trading on Tuesday, reaching $105.71. 137,303 shares of the stock were exchanged, compared to its average volume of 1,102,505. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market cap of $10.74 billion, a PE ratio of 25.72 and a beta of 0.77. The stock has a 50-day moving average price of $97.89 and a 200-day moving average price of $99.97. DT Midstream, Inc. has a 12 month low of $65.44 and a 12 month high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly 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 41.19% and a return on equity of 9.31%. The company had revenue of $288.81 million during 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. Research analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 is currently 89.37%.

Insider Buying and Selling at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the acquisition, the director now owns 38,653 shares of the company's stock, valued at approximately $3,359,718.76. This represents a 2.66% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 1,235 shares of company stock worth $109,867 over the last three months. Corporate insiders own 0.34% of the company's stock.

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.