DT Midstream, Inc. (NYSE:DTM) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lowered its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 44.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,700 shares of the company’s stock after selling 126,500 shares during the quarter. Clearbridge Investments LLC owned approximately 0.16% of DT Midstream worth $11,343,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Family Firm Inc. bought a new position in DT Midstream during the second quarter worth $26,000. First Command Advisory Services Inc. bought a new position in DT Midstream during the second quarter worth $31,000. American National Bank lifted its stake in DT Midstream by 100.0% during the second quarter. American National Bank now owns 468 shares of the company’s stock worth $33,000 after purchasing an additional 234 shares during the last quarter. Mather Group LLC. bought a new position in DT Midstream during the first quarter worth $29,000. Finally, Rothschild Investment LLC bought a new position in DT Midstream during the second quarter worth $48,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DTM shares. Wells Fargo & Company raised their price objective on DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Stifel Nicolaus raised their price objective on DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Citigroup raised their target price on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. raised their target price on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Barclays raised their target price on DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday. 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.00.

DT Midstream Price Performance

Shares of NYSE DTM opened at $84.05 on Friday. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $84.18. The firm’s 50-day simple moving average is $76.11 and its 200 day simple moving average is $69.66. 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 stock has a market cap of $8.16 billion, a P/E ratio of 20.51 and a beta of 0.74.

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, beating analysts’ consensus estimates of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The business 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 business earned $0.93 earnings per share. Equities analysts expect that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Dividend Announcement

The business 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. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Monday, September 16th. DT Midstream’s dividend payout ratio is currently 71.71%.

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.