Jennison Associates LLC Decreases Position in DT Midstream, Inc. (NYSE:DTM)

Jennison Associates LLC cut its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 56.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,404 shares of the company's stock after selling 129,885 shares during the quarter. Jennison Associates LLC owned about 0.10% of DT Midstream worth $5,557,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. increased its stake in DT Midstream by 28.3% in the fourth quarter. Blue Trust Inc. now owns 992 shares of the company's stock worth $53,000 after purchasing an additional 219 shares during the period. Treasurer of the State of North Carolina increased its stake in DT Midstream by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 42,616 shares of the company's stock worth $2,255,000 after purchasing an additional 220 shares during the period. Johnson Investment Counsel Inc. increased its stake in DT Midstream by 0.8% in the third quarter. Johnson Investment Counsel Inc. now owns 31,870 shares of the company's stock worth $1,687,000 after purchasing an additional 250 shares during the period. CWA Asset Management Group LLC increased its stake in DT Midstream by 7.5% in the third quarter. CWA Asset Management Group LLC now owns 4,418 shares of the company's stock worth $234,000 after purchasing an additional 310 shares during the period. Finally, Accurate Wealth Management LLC increased its stake in DT Midstream by 8.3% in the third quarter. Accurate Wealth Management LLC now owns 4,288 shares of the company's stock worth $240,000 after purchasing an additional 330 shares during the period. 81.53% of the stock is currently owned by institutional investors.

Insider Transactions at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of DT Midstream stock in a transaction dated Monday, February 26th. The stock was acquired 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 in the company, valued at approximately $2,120,625.43. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.04% of the company's stock.

DT Midstream Stock Performance

Shares of DT Midstream stock traded down $0.55 on Friday, reaching $64.04. 702,590 shares of the stock were exchanged, compared to its average volume of 708,724. DT Midstream, Inc. has a twelve month low of $45.10 and a twelve month high of $64.69. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 16.21 and a beta of 0.73. The business has a 50 day moving average price of $60.05 and a two-hundred day moving average price of $56.57. 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 quarterly earnings results on Friday, February 16th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.32. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. The company had revenue of $244.00 million during the quarter, compared to the consensus estimate of $235.19 million. During the same period in the previous year, the company posted $0.93 earnings per share. Analysts anticipate that DT Midstream, Inc. will post 3.95 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were given a $0.735 dividend. The ex-dividend date was Friday, March 15th. This is a boost from DT Midstream's previous quarterly dividend of $0.69. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.59%. DT Midstream's payout ratio is 74.43%.

Analyst Ratings Changes

A number of research firms have weighed in on DTM. Mizuho reiterated a "neutral" rating and issued a $57.00 target price (down previously from $58.00) on shares of DT Midstream in a research note on Friday, January 5th. Barclays raised their price target on DT Midstream from $59.00 to $66.00 and gave the company an "overweight" rating in a research note on Friday, April 5th. Finally, Wolfe Research upgraded DT Midstream from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, February 20th. Two investment 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. Based on data from MarketBeat.com, DT Midstream presently has a consensus rating of "Hold" and a consensus price target of $58.50.

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.