Los Angeles Capital Management LLC Sells 3,928 Shares of DT Midstream, Inc. (NYSE:DTM)

Los Angeles Capital Management LLC reduced its stake in DT Midstream, Inc. (NYSE:DTM) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 84,887 shares of the company’s stock after selling 3,928 shares during the quarter. Los Angeles Capital Management LLC’s holdings in DT Midstream were worth $6,677,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of DT Midstream by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock worth $312,070,000 after acquiring an additional 490,613 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in DT Midstream by 1.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company’s stock valued at $144,398,000 after buying an additional 37,463 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in DT Midstream by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock valued at $82,870,000 after purchasing an additional 38,305 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in shares of DT Midstream by 6.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock valued at $72,737,000 after buying an additional 60,370 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of DT Midstream in the third quarter worth about $39,166,000. 81.53% of the stock is owned by institutional investors.

DT Midstream Price Performance

NYSE:DTM opened at $99.82 on Tuesday. The stock’s 50 day moving average price is $83.54 and its two-hundred day moving average price is $74.89. DT Midstream, Inc. has a 12-month low of $51.17 and a 12-month high of $100.97. The firm has a market capitalization of $9.70 billion, a price-to-earnings ratio of 24.29 and a beta of 0.71. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.05). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The company had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. During the same period in the prior year, the company earned $0.94 earnings per share. On average, analysts anticipate that DT Midstream, Inc. will post 3.96 earnings per share for the current year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.95%. The ex-dividend date is Monday, December 16th. DT Midstream’s payout ratio is 71.53%.

Wall Street Analyst Weigh In

DTM has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Morgan Stanley lifted their price target on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Stifel Nicolaus downgraded DT Midstream from a “buy” rating to a “hold” rating and increased their price target for the company from $78.00 to $89.00 in a research note on Wednesday, October 30th. Citigroup lifted their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, The Goldman Sachs Group boosted their target price on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, DT Midstream has a consensus rating of “Hold” and an average target price of $80.44.

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.