DT Midstream, Inc. (NYSE:DTM) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lessened its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 13.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 251,526 shares of the company's stock after selling 39,137 shares during the period. Verition Fund Management LLC owned 0.26% of DT Midstream worth $19,785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. UMB Bank n.a. lifted its stake in shares of DT Midstream by 324.3% during the third quarter. UMB Bank n.a. now owns 314 shares of the company's stock valued at $25,000 after buying an additional 240 shares during the period. Family Firm Inc. purchased a new position in shares of DT Midstream during the second quarter valued at approximately $26,000. V Square Quantitative Management LLC purchased a new position in shares of DT Midstream during the third quarter valued at approximately $29,000. First Command Advisory Services Inc. purchased a new position in shares of DT Midstream during the second quarter valued at approximately $31,000. Finally, American National Bank lifted its stake in shares of DT Midstream by 100.0% during the second quarter. American National Bank now owns 468 shares of the company's stock valued at $33,000 after buying an additional 234 shares during the period. Hedge funds and other institutional investors own 81.53% of the company's stock.

Analysts Set New Price Targets

DTM has been the topic of several recent analyst reports. Citigroup raised shares of DT Midstream from a "neutral" rating to a "buy" rating and upped their price objective for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $78.00 to $83.00 and gave the stock a "neutral" rating in a research note on Friday, October 4th. The Goldman Sachs Group increased their price target on shares of DT Midstream from $66.00 to $74.00 and gave the stock a "sell" rating in a research note on Tuesday, November 5th. Barclays increased their price target on shares of DT Midstream from $85.00 to $92.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Finally, Morgan Stanley increased their price target on shares of DT Midstream from $82.00 to $92.00 and gave the stock an "underweight" rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $84.78.

DT Midstream Trading Up 0.3 %

Shares of DT Midstream stock traded up $0.31 during trading hours on Friday, hitting $106.12. The company's stock had a trading volume of 507,554 shares, compared to its average volume of 673,844. The company has a market capitalization of $10.31 billion, a PE ratio of 25.82 and a beta of 0.71. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average of $91.23 and a 200 day moving average of $78.64. DT Midstream, Inc. has a 1-year low of $51.17 and a 1-year high of $109.85.

DT Midstream (NYSE:DTM - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.05). The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same period in the previous year, the business posted $0.94 EPS. As a group, equities analysts forecast that DT Midstream, Inc. will post 3.85 EPS for the current year.

DT Midstream Dividend Announcement

The business 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 dividend of $0.735 per share. The ex-dividend date is Monday, December 16th. This represents a $2.94 annualized dividend and a yield of 2.77%. DT Midstream's payout ratio is 71.53%.

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.