Mirae Asset Global Investments Co. Ltd. Sells 55,557 Shares of DT Midstream, Inc. (NYSE:DTM)

Mirae Asset Global Investments Co. Ltd. cut its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 709,371 shares of the company's stock after selling 55,557 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.73% of DT Midstream worth $38,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. International Assets Investment Management LLC purchased a new stake in shares of DT Midstream in the fourth quarter valued at approximately $815,000. Caprock Group LLC purchased a new stake in shares of DT Midstream in the fourth quarter valued at approximately $445,000. Blue Trust Inc. grew its position in shares of DT Midstream by 28.3% in the fourth quarter. Blue Trust Inc. now owns 992 shares of the company's stock valued at $53,000 after purchasing an additional 219 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in shares of DT Midstream by 5.7% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 706,075 shares of the company's stock valued at $38,693,000 after purchasing an additional 37,810 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of DT Midstream by 7.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 20,154 shares of the company's stock valued at $1,104,000 after purchasing an additional 1,475 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Down 1.1 %

DT Midstream stock traded down $0.67 during midday trading on Friday, reaching $62.75. The company's stock had a trading volume of 692,739 shares, compared to its average volume of 590,669. DT Midstream, Inc. has a fifty-two week low of $45.10 and a fifty-two week high of $64.19. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.72. The company has a market cap of $6.09 billion, a P/E ratio of 15.89 and a beta of 0.73. The business has a 50-day simple moving average of $56.99 and a 200-day simple moving average of $55.53.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings results on Friday, February 16th. The company reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.32. The company had revenue of $244.00 million for the quarter, compared to analysts' expectations of $235.19 million. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. During the same period last year, the firm earned $0.93 earnings per share. On average, research analysts expect that DT Midstream, Inc. will post 3.85 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, March 18th will be issued a dividend of $0.735 per share. The ex-dividend date is Friday, March 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.69%. This is a positive change from DT Midstream's previous quarterly dividend of $0.69. DT Midstream's dividend payout ratio (DPR) is currently 74.43%.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction that occurred 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 completion of the acquisition, the director now directly owns 37,289 shares in the company, valued at approximately $2,120,625.43. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.04% of the company's stock.

Analysts Set New Price Targets

DTM has been the subject of several analyst reports. Mizuho reiterated a "neutral" rating and issued a $57.00 price objective (down from $58.00) on shares of DT Midstream in a research report on Friday, January 5th. Wolfe Research upgraded DT Midstream from an "underperform" rating to a "peer perform" rating in a research report on Tuesday, February 20th. Finally, Barclays raised their price target on DT Midstream from $59.00 to $66.00 and gave the stock an "overweight" rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $58.57.

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.