Tower Research Capital LLC TRC Sells 4,770 Shares of DT Midstream, Inc. (NYSE:DTM)

Tower Research Capital LLC TRC cut its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 45.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,656 shares of the company's stock after selling 4,770 shares during the quarter. Tower Research Capital LLC TRC's holdings in DT Midstream were worth $562,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its position in shares of DT Midstream by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company's stock worth $2,685,000 after purchasing an additional 100 shares in the last quarter. Jones Financial Companies Lllp raised its stake in DT Midstream by 15.0% during the 4th quarter. Jones Financial Companies Lllp now owns 768 shares of the company's stock worth $76,000 after buying an additional 100 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in DT Midstream by 17.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company's stock valued at $69,000 after acquiring an additional 105 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of DT Midstream by 1.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company's stock valued at $1,235,000 after acquiring an additional 116 shares in the last quarter. Finally, Lakeshore Financial Planning Inc. raised its position in shares of DT Midstream by 4.2% during the fourth quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company's stock worth $285,000 after purchasing an additional 116 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DTM has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on shares of DT Midstream from $92.00 to $105.00 and gave the company an "underweight" rating in a research note on Tuesday, March 25th. UBS Group upped their target price on shares of DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Bank of America began coverage on DT Midstream in a research note on Monday, March 24th. They set a "buy" rating and a $110.00 price target for the company. Wells Fargo & Company lowered their price objective on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, Williams Trading set a $110.00 target price on DT Midstream in a research report on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $108.27.

DT Midstream Stock Performance

Shares of DT Midstream stock traded up $3.00 during trading hours on Friday, hitting $100.80. 957,872 shares of the company's stock traded hands, compared to its average volume of 855,821. The stock has a market capitalization of $10.24 billion, a price-to-earnings ratio of 24.53 and a beta of 0.77. DT Midstream, Inc. has a 12-month low of $61.94 and a 12-month high of $114.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a fifty day simple moving average of $94.88 and a 200-day simple moving average of $98.33.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.07 by ($0.01). The company had revenue of $288.81 million for the quarter, compared to analysts' expectations of $285.48 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter last year, the business posted $0.99 EPS. Equities research analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be paid a $0.82 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.28 annualized dividend and a yield of 3.25%. DT Midstream's payout ratio is 91.11%.

Insider Buying and Selling 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, March 10th. The stock was purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the purchase, the director now directly owns 38,653 shares of the company's stock, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.34% of the stock is owned by corporate insiders.

DT Midstream Company 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.