Wedge Capital Management L L P NC Sells 34,334 Shares of DT Midstream, Inc. (NYSE:DTM)

Wedge Capital Management L L P NC lessened its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 33.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,806 shares of the company's stock after selling 34,334 shares during the period. Wedge Capital Management L L P NC owned 0.07% of DT Midstream worth $3,716,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Deutsche Bank AG increased its stake in shares of DT Midstream by 1,176.7% in the 3rd quarter. Deutsche Bank AG now owns 867,145 shares of the company's stock valued at $45,889,000 after purchasing an additional 799,224 shares during the last quarter. Eagle Global Advisors LLC bought a new position in shares of DT Midstream in the 3rd quarter valued at $8,590,000. Envestnet Asset Management Inc. increased its stake in shares of DT Midstream by 186.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 157,152 shares of the company's stock valued at $8,316,000 after purchasing an additional 102,255 shares during the last quarter. Covalis Capital LLP acquired a new stake in shares of DT Midstream during the 3rd quarter valued at $5,077,000. Finally, Comerica Bank boosted its holdings in shares of DT Midstream by 11,073.2% during the 3rd quarter. Comerica Bank now owns 86,257 shares of the company's stock valued at $4,565,000 after acquiring an additional 85,485 shares in the last quarter. Institutional investors own 81.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DTM. Wolfe Research raised DT Midstream from an "underperform" rating to a "peer perform" rating in a report on Tuesday, February 20th. Mizuho reissued a "neutral" rating and set a $57.00 price objective (down previously from $58.00) on shares of DT Midstream in a report on Friday, January 5th. Finally, Barclays raised their price objective on DT Midstream from $59.00 to $66.00 and gave the company an "overweight" rating in a report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $58.50.

DT Midstream Trading Up 0.6 %

DTM traded up $0.41 during midday trading on Thursday, hitting $64.58. 512,141 shares of the company were exchanged, compared to its average volume of 676,558. The firm has a market capitalization of $6.27 billion, a P/E ratio of 16.35 and a beta of 0.73. DT Midstream, Inc. has a 1-year low of $45.10 and a 1-year high of $64.69. The firm's 50 day moving average price is $59.86 and its 200-day moving average price is $56.49. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.72.

DT Midstream (NYSE:DTM - Get Free Report) last announced 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. The firm had revenue of $244.00 million for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $0.93 EPS. As a group, equities analysts forecast that DT Midstream, Inc. will post 3.95 EPS for the current fiscal year.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were issued a dividend of $0.735 per share. The ex-dividend date was Friday, March 15th. This is an increase from DT Midstream's previous quarterly dividend of $0.69. This represents a $2.94 annualized dividend and a yield of 4.55%. DT Midstream's payout ratio is presently 74.43%.

Insiders Place Their Bets

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company's stock in a transaction dated Monday, February 26th. The shares were bought at an average cost of $56.87 per share, with a total value of $56,870.00. Following the purchase, the director now directly owns 37,289 shares of the company's stock, valued at $2,120,625.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.04% of the company's stock.

DT Midstream 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.