DT Midstream, Inc. (NYSE:DTM) Shares Sold by Vaughan David Investments LLC IL

Vaughan David Investments LLC IL lessened its position in shares of DT Midstream, Inc. (NYSE:DTM) by 6.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,736 shares of the company’s stock after selling 2,718 shares during the quarter. Vaughan David Investments LLC IL’s holdings in DT Midstream were worth $2,489,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bright Rock Capital Management LLC acquired a new stake in DT Midstream during the 1st quarter valued at $916,000. Prevail Innovative Wealth Advisors LLC increased its position in DT Midstream by 37.9% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company’s stock worth $2,316,000 after purchasing an additional 10,418 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in DT Midstream by 8.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock valued at $186,407,000 after purchasing an additional 266,433 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in DT Midstream by 137.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock valued at $1,840,000 after purchasing an additional 17,437 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of DT Midstream during the 1st quarter worth about $1,085,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Performance

Shares of DT Midstream stock traded down $0.83 during trading hours on Wednesday, reaching $74.64. The company’s stock had a trading volume of 675,421 shares, compared to its average volume of 656,252. DT Midstream, Inc. has a one year low of $50.54 and a one year high of $76.01. The company’s 50 day simple moving average is $69.30 and its 200 day simple moving average is $62.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $7.25 billion, a P/E ratio of 18.20 and a beta of 0.74.

DT Midstream (NYSE:DTM) last issued its earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $240.00 million for the quarter, compared to analysts’ expectations of $242.62 million. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. During the same quarter last year, the company posted $0.84 earnings per share. As a group, analysts expect that DT Midstream, Inc. will post 3.95 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, June 17th were paid a dividend of $0.735 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $2.94 dividend on an annualized basis and a yield of 3.94%. DT Midstream’s payout ratio is currently 71.71%.

Analyst Ratings Changes

Several analysts have commented on DTM shares. US Capital Advisors cut shares of DT Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Wells Fargo & Company upgraded shares of DT Midstream from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $62.00 to $77.00 in a report on Tuesday, June 4th. Barclays boosted their price objective on DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Mizuho raised their price target on shares of DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Finally, Stifel Nicolaus lifted their price objective on DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $65.67.

Insider Buying and Selling

In other news, CFO Jeffrey A. Jewell purchased 400 shares of DT Midstream stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $62.80 per share, with a total value of $25,120.00. Following the completion of the acquisition, the chief financial officer now owns 44,285 shares in the company, valued at approximately $2,781,098. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.04% of the stock is owned by company insiders.

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.