Nordea Investment Management AB Reduces Stock Position in DT Midstream, Inc. (NYSE:DTM)

Nordea Investment Management AB reduced its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 257,739 shares of the company's stock after selling 22,803 shares during the period. Nordea Investment Management AB owned 0.27% of DT Midstream worth $14,150,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of DTM. Geneos Wealth Management Inc. acquired a new stake in DT Midstream during the 1st quarter worth about $30,000. Chilton Capital Management LLC acquired a new stake in DT Midstream during the 1st quarter worth about $39,000. First Horizon Advisors Inc. grew its holdings in DT Midstream by 192.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 947 shares of the company's stock worth $50,000 after acquiring an additional 623 shares during the period. ICA Group Wealth Management LLC acquired a new stake in DT Midstream during the 4th quarter worth about $59,000. Finally, Janiczek Wealth Management LLC grew its stake in shares of DT Midstream by 59.8% in the 3rd quarter. Janiczek Wealth Management LLC now owns 1,149 shares of the company's stock valued at $61,000 after buying an additional 430 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Stock Up 1.8 %

NYSE DTM traded up $1.05 during trading hours on Thursday, hitting $59.50. The company's stock had a trading volume of 628,165 shares, compared to its average volume of 660,359. DT Midstream, Inc. has a 52 week low of $45.10 and a 52 week high of $59.51. The company has a market capitalization of $5.77 billion, a PE ratio of 15.06 and a beta of 0.72. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.72. The company's 50-day simple moving average is $55.28 and its two-hundred day simple moving average is $54.80.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Friday, February 16th. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.92 by $0.32. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. The firm had revenue of $244.00 million for the quarter, compared to analysts' expectations of $235.19 million. During the same quarter last year, the firm earned $0.93 EPS. Research analysts anticipate that DT Midstream, Inc. will post 3.84 EPS for the current fiscal year.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, March 18th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Friday, March 15th. This represents a $2.94 annualized dividend and a dividend yield of 4.94%. This is a boost from DT Midstream's previous quarterly dividend of $0.69. DT Midstream's dividend payout ratio (DPR) is currently 74.43%.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company's stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $56.87 per share, with a total value of $56,870.00. Following the transaction, the director now directly owns 37,289 shares in the company, valued at $2,120,625.43. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.04% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on DTM shares. Barclays raised their target price on DT Midstream from $57.00 to $59.00 and gave the company an "overweight" rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. downgraded DT Midstream from an "overweight" rating to a "neutral" rating in a research note on Friday, December 1st. Mizuho restated a "neutral" rating and issued a $57.00 target price (down from $58.00) on shares of DT Midstream in a research note on Friday, January 5th. Finally, Wolfe Research raised shares of DT Midstream from an "underperform" rating to a "peer perform" rating in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $57.57.

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.