MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 11,659 Shares of DT Midstream, Inc. (NYSE:DTM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,105,662 shares of the company's stock after selling 11,659 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.14% of DT Midstream worth $109,936,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of DT Midstream by 3.7% during the third quarter. Barclays PLC now owns 283,363 shares of the company's stock valued at $22,289,000 after acquiring an additional 10,074 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of DT Midstream during the third quarter valued at approximately $29,000. Friedenthal Financial acquired a new stake in shares of DT Midstream during the fourth quarter valued at approximately $764,000. AdvisorNet Financial Inc raised its holdings in shares of DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock valued at $31,000 after acquiring an additional 160 shares during the period. Finally, Ritholtz Wealth Management acquired a new stake in shares of DT Midstream during the fourth quarter valued at approximately $201,000. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Stock Performance

DT Midstream stock traded up $0.51 during mid-day trading on Friday, reaching $104.04. The company had a trading volume of 569,298 shares, compared to its average volume of 873,327. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a 52 week low of $65.43 and a 52 week high of $114.50. The company has a 50 day moving average of $96.96 and a 200-day moving average of $99.50. The firm has a market cap of $10.57 billion, a price-to-earnings ratio of 25.31 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.07 by ($0.01). The business had revenue of $288.81 million during the quarter, compared to analyst estimates of $285.48 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter in the prior year, the company posted $0.99 EPS. On average, sell-side analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream's dividend payout ratio is currently 89.37%.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the purchase, the director now directly owns 38,653 shares of the company's stock, valued at $3,359,718.76. The trade was a 2.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have acquired 1,235 shares of company stock valued at $109,867. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

DTM has been the topic of several research reports. Williams Trading set a $110.00 price objective on shares of DT Midstream in a research note on Monday, March 24th. Morgan Stanley boosted their target price on shares of DT Midstream from $92.00 to $105.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 25th. Bank of America began coverage on shares of DT Midstream in a research report on Monday, March 24th. They issued a "buy" rating and a $110.00 target price for the company. Barclays decreased their target price on shares of DT Midstream from $107.00 to $102.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Finally, US Capital Advisors downgraded shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Two 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 data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $108.27.

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.