DT Midstream, Inc. (NYSE:DTM) is Energy Income Partners LLC’s 5th Largest Position

Energy Income Partners LLC trimmed its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 6.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,233,313 shares of the company’s stock after selling 230,409 shares during the period. DT Midstream makes up approximately 4.0% of Energy Income Partners LLC’s portfolio, making the stock its 5th largest holding. Energy Income Partners LLC’s holdings in DT Midstream were worth $197,555,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. purchased a new position in shares of DT Midstream during the fourth quarter valued at approximately $25,000. HHM Wealth Advisors LLC bought a new stake in DT Midstream in the 4th quarter worth approximately $25,000. Mather Group LLC. bought a new stake in DT Midstream in the 1st quarter worth approximately $29,000. ICA Group Wealth Management LLC bought a new stake in DT Midstream in the 4th quarter worth approximately $32,000. Finally, Burkett Financial Services LLC bought a new stake in DT Midstream in the 4th quarter worth approximately $42,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DTM. Stifel Nicolaus boosted their price objective on shares of DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Barclays boosted their price objective on shares of DT Midstream from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. 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 lifted their target price for the company from $62.00 to $77.00 in a research note on Tuesday, June 4th. Finally, Mizuho lifted their target price on shares of DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $65.67.

Insider Activity

In other news, CFO Jeffrey A. Jewell purchased 400 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $62.80 per share, for a total transaction of $25,120.00. Following the acquisition, the chief financial officer now owns 44,285 shares of the company’s stock, valued at approximately $2,781,098. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.04% of the company’s stock.

DT Midstream Price Performance

Shares of NYSE DTM traded down $0.56 during mid-day trading on Friday, hitting $73.74. 904,932 shares of the company’s stock traded hands, compared to its average volume of 670,014. The company’s 50-day moving average is $69.60 and its two-hundred day moving average is $62.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $7.16 billion, a P/E ratio of 17.99 and a beta of 0.74. DT Midstream, Inc. has a 1 year low of $50.54 and a 1 year high of $76.01.

DT Midstream (NYSE:DTM) last announced its earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the company earned $0.84 EPS. On average, equities analysts anticipate that DT Midstream, Inc. will post 3.95 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, June 17th were given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Monday, June 17th. DT Midstream’s dividend payout ratio is 71.71%.

About DT Midstream

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.