Ameritas Investment Partners Inc. Decreases Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Ameritas Investment Partners Inc. cut its holdings in DT Midstream, Inc. (NYSE:DTM) by 1.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,855 shares of the company’s stock after selling 741 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in DT Midstream were worth $2,902,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Family Firm Inc. bought a new position in DT Midstream during the second quarter valued at $26,000. First Command Advisory Services Inc. purchased a new stake in shares of DT Midstream during the 2nd quarter valued at about $31,000. American National Bank lifted its holdings in shares of DT Midstream by 100.0% in the 2nd quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after acquiring an additional 234 shares during the last quarter. Mather Group LLC. purchased a new position in DT Midstream in the first quarter worth about $29,000. Finally, ICA Group Wealth Management LLC bought a new stake in DT Midstream during the fourth quarter worth approximately $32,000. Institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Up 1.6 %

DTM stock opened at $77.82 on Friday. DT Midstream, Inc. has a 12 month low of $50.88 and a 12 month high of $78.83. The firm’s 50-day moving average is $75.00 and its 200 day moving average is $68.33. The company has a market capitalization of $7.56 billion, a PE 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 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. The business had revenue of $244.00 million for the quarter, compared to analyst estimates of $236.83 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same period last year, the company posted $0.93 earnings per share. On average, research analysts anticipate that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Announces Dividend

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

Wall Street Analyst Weigh In

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

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.