Duff & Phelps Investment Management Co. Sells 71,308 Shares of DT Midstream, Inc. (NYSE:DTM)

Duff & Phelps Investment Management Co. cut its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 9.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 678,984 shares of the company's stock after selling 71,308 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.70% of DT Midstream worth $37,208,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HHM Wealth Advisors LLC acquired a new position in shares of DT Midstream in the 4th quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. bought a new position in DT Midstream during the 4th quarter valued at $25,000. 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 in the last quarter. GAMMA Investing LLC bought a new stake in shares of DT Midstream in the 4th quarter worth about $52,000. Finally, Blue Trust Inc. raised its stake in shares of DT Midstream by 28.3% in the 4th 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. Hedge funds and other institutional investors own 81.53% of the company's stock.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the business's stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the purchase, the director now directly owns 37,289 shares in the company, valued at $2,120,625.43. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

DTM has been the subject of several research analyst reports. Mizuho boosted their price objective on DT Midstream from $57.00 to $65.00 and gave the company a "neutral" rating in a report on Monday. Wolfe Research upgraded DT Midstream from an "underperform" rating to a "peer perform" rating in a report on Tuesday, February 20th. Finally, Barclays raised their price objective on DT Midstream from $59.00 to $66.00 and gave the stock an "overweight" rating in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $59.83.

DT Midstream Stock Performance

NYSE:DTM traded down $1.01 during midday trading on Tuesday, reaching $62.20. 1,491,761 shares of the company traded hands, compared to its average volume of 692,139. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 16.00 and a beta of 0.73. The company has a fifty day moving average price of $60.22 and a 200 day moving average price of $56.65. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.63 and a quick ratio of 0.63. DT Midstream, Inc. has a twelve month low of $45.10 and a twelve month high of $64.69.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly 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 business had revenue of $244.00 million during the quarter, compared to analyst estimates of $235.19 million. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. During the same quarter in the prior year, the firm earned $0.93 earnings per share. On average, analysts expect that DT Midstream, Inc. will post 3.95 EPS 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 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 dividend yield of 4.73%. DT Midstream's payout ratio is currently 74.43%.

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.