Benjamin Edwards Inc. Sells 707 Shares of DT Midstream, Inc. (NYSE:DTM)

Benjamin Edwards Inc. lowered its stake in DT Midstream, Inc. (NYSE:DTM) by 36.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,222 shares of the company’s stock after selling 707 shares during the quarter. Benjamin Edwards Inc.’s holdings in DT Midstream were worth $87,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bright Rock Capital Management LLC bought a new stake in DT Midstream during the 1st quarter valued at $916,000. Prevail Innovative Wealth Advisors LLC boosted its holdings in shares of DT Midstream by 37.9% during the first 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 during the period. Illinois Municipal Retirement Fund grew its stake in shares of DT Midstream by 137.6% in the first quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock worth $1,840,000 after purchasing an additional 17,437 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in DT Midstream during the 1st quarter valued at about $1,085,000. Finally, Tortoise Index Solutions LLC raised its position in DT Midstream by 12.9% during the 4th quarter. Tortoise Index Solutions LLC now owns 128,107 shares of the company’s stock valued at $7,020,000 after purchasing an additional 14,598 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Up 1.6 %

NYSE:DTM opened at $77.82 on Monday. DT Midstream, Inc. has a one year low of $50.88 and a one year high of $78.83. The company’s 50-day simple moving average is $75.00 and its 200 day simple moving average is $68.40. The firm has a market capitalization of $7.56 billion, a P/E ratio of 18.98 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The firm had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $236.83 million. During the same period in the previous year, the firm posted $0.93 EPS. As a group, analysts forecast that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.735 per share. The ex-dividend date is Monday, September 16th. This represents a $2.94 annualized dividend and a dividend yield of 3.78%. DT Midstream’s payout ratio is presently 71.71%.

Analysts Set New Price Targets

DTM has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price objective on DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on shares of DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Barclays raised their target price on shares of DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $75.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Citigroup lifted their price objective on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, DT Midstream currently has a consensus rating of “Hold” and a consensus target price of $70.75.

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.