Amalgamated Bank Sells 14,513 Shares of DT Midstream, Inc. (NYSE:DTM)

Amalgamated Bank reduced its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 23.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,303 shares of the company's stock after selling 14,513 shares during the period. Amalgamated Bank's holdings in DT Midstream were worth $3,642,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its position in DT Midstream by 16.0% during the second quarter. Blue Trust Inc. now owns 1,032 shares of the company's stock worth $73,000 after buying an additional 142 shares during the period. TFG Advisers LLC lifted its holdings in shares of DT Midstream by 3.1% during the 3rd quarter. TFG Advisers LLC now owns 5,774 shares of the company's stock worth $454,000 after acquiring an additional 172 shares during the period. Princeton Global Asset Management LLC boosted its position in shares of DT Midstream by 8.6% in the third quarter. Princeton Global Asset Management LLC now owns 2,525 shares of the company's stock worth $199,000 after acquiring an additional 200 shares during the last quarter. Raymond James & Associates grew its holdings in DT Midstream by 1.1% in the second quarter. Raymond James & Associates now owns 18,148 shares of the company's stock valued at $1,289,000 after purchasing an additional 201 shares during the period. Finally, First Horizon Advisors Inc. increased its position in DT Midstream by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 787 shares of the company's stock worth $56,000 after purchasing an additional 224 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Price Performance

Shares of NYSE:DTM traded up $0.86 on Friday, reaching $97.89. 851,090 shares of the company traded hands, compared to its average volume of 658,512. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $98.14. The stock has a market capitalization of $9.51 billion, a PE ratio of 23.82 and a beta of 0.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company's 50 day moving average is $83.11 and its 200-day moving average is $74.64.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $0.95 by ($0.05). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The business had revenue of $248.00 million for the quarter, compared to analysts' expectations of $242.64 million. During the same quarter in the prior year, the firm posted $0.94 EPS. As a group, analysts anticipate that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Monday, December 16th. DT Midstream's dividend payout ratio (DPR) is presently 71.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Citigroup lifted their price target on shares of DT Midstream from $62.00 to $76.00 and gave the company a "neutral" rating in a report on Wednesday, September 4th. The Goldman Sachs Group upped their price target on DT Midstream from $66.00 to $74.00 and gave the stock a "sell" rating in a research note on Tuesday, November 5th. Stifel Nicolaus cut DT Midstream from a "buy" rating to a "hold" rating and boosted their target price for the stock from $78.00 to $89.00 in a report on Wednesday, October 30th. Wells Fargo & Company raised their price target on shares of DT Midstream from $87.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Finally, Morgan Stanley raised their target price on shares of DT Midstream from $82.00 to $92.00 and gave the company an "underweight" rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average 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.