DT Midstream, Inc. (NYSE:DTM) Shares Sold by Westwood Holdings Group Inc.

Key Points

• Westwood Holdings Group Inc. reduced its stake in DT Midstream, Inc. by 2.6%, now owning 1,056,342 shares, which constitutes 0.8% of their portfolio.
• DT Midstream announced a quarterly dividend of $0.82 per share, with an annualized dividend yield of 3.1%.
• Several institutional investors increased their investments in DT Midstream, with notable increases from Bessemer Group Inc. and Catalyst Capital Advisors LLC.

Westwood Holdings Group Inc. decreased its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,056,342 shares of the company's stock after selling 27,676 shares during the quarter. DT Midstream comprises 0.8% of Westwood Holdings Group Inc.'s portfolio, making the stock its 27th biggest holding. Westwood Holdings Group Inc. owned about 1.04% of DT Midstream worth $101,916,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Blackstone Inc. boosted its holdings in DT Midstream by 2,783.1% during the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock valued at $162,199,000 after acquiring an additional 1,574,705 shares during the period. Zimmer Partners LP purchased a new position in DT Midstream during the 4th quarter valued at $74,572,000. Bank of Montreal Can boosted its holdings in DT Midstream by 733.3% during the 4th quarter. Bank of Montreal Can now owns 458,789 shares of the company's stock valued at $45,617,000 after acquiring an additional 403,730 shares during the period. GAMMA Investing LLC boosted its holdings in DT Midstream by 9,693.3% during the 1st quarter. GAMMA Investing LLC now owns 390,262 shares of the company's stock valued at $37,652,000 after acquiring an additional 386,277 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in DT Midstream by 287.9% during the 4th quarter. Point72 Asset Management L.P. now owns 410,332 shares of the company's stock valued at $40,799,000 after acquiring an additional 304,555 shares during the period. Hedge funds and other institutional investors own 81.53% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DTM. US Capital Advisors cut DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Wells Fargo & Company upped their target price on DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Stifel Nicolaus upped their target price on DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Barclays upped their target price on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Finally, Morgan Stanley upped their target price on DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a report on Wednesday. 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 company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $110.91.

DT Midstream Stock Down 0.2%

Shares of DTM traded down $0.16 during trading hours on Thursday, hitting $104.17. The company had a trading volume of 575,609 shares, compared to its average volume of 822,386. The company has a market capitalization of $10.58 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.90 and a beta of 0.77. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a one year low of $71.97 and a one year high of $114.50. The company's fifty day moving average price is $104.59 and its two-hundred day moving average price is $100.60.

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

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DT Midstream's dividend payout ratio is currently 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.