Westwood Holdings Group Inc. Cuts Position in DT Midstream, Inc. (NYSE:DTM)

Westwood Holdings Group Inc. lessened its holdings in DT Midstream, Inc. (NYSE:DTM) by 54.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 239,086 shares of the company’s stock after selling 286,539 shares during the period. Westwood Holdings Group Inc. owned approximately 0.25% of DT Midstream worth $16,982,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of DTM. First Trust Advisors LP raised its position in shares of DT Midstream by 284.6% during the 4th quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock valued at $83,537,000 after buying an additional 1,128,056 shares in the last quarter. Norges Bank bought a new stake in shares of DT Midstream in the 4th quarter valued at approximately $61,638,000. Dimensional Fund Advisors LP boosted its holdings in shares of DT Midstream by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock worth $312,070,000 after purchasing an additional 490,613 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of DT Midstream by 14.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 809,126 shares of the company’s stock valued at $49,438,000 after purchasing an additional 99,755 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in DT Midstream during the 2nd quarter valued at $6,309,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on DTM. Stifel Nicolaus lifted their price objective 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. Citigroup lifted their price target 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. JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $75.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Barclays upped their price objective on DT Midstream from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company lifted their target price on DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $70.75.

DT Midstream Stock Up 1.6 %

DT Midstream stock opened at $77.82 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The firm has a market cap of $7.56 billion, a P/E ratio of 18.98 and a beta of 0.74. The business has a fifty day moving average of $75.00 and a two-hundred day moving average of $68.33. DT Midstream, Inc. has a twelve month low of $50.88 and a twelve month high of $78.83.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 earnings per share 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 during the quarter, compared to analysts’ expectations of $236.83 million. During the same period in the prior year, the business posted $0.93 EPS. On average, analysts forecast that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.94 annualized dividend and a dividend yield of 3.78%. DT Midstream’s dividend payout ratio (DPR) is presently 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.