Exchange Traded Concepts LLC Trims Stock Position in DT Midstream, Inc. (NYSE:DTM)

Exchange Traded Concepts LLC cut its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,618 shares of the company's stock after selling 7,945 shares during the period. Exchange Traded Concepts LLC owned 0.12% of DT Midstream worth $11,695,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in shares of DT Midstream by 15.3% during the second quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company's stock worth $8,657,000 after buying an additional 16,171 shares during the period. Renaissance Technologies LLC boosted its holdings in DT Midstream by 1.7% in the second quarter. Renaissance Technologies LLC now owns 60,100 shares of the company's stock worth $4,269,000 after acquiring an additional 1,000 shares in the last quarter. AE Wealth Management LLC grew its stake in DT Midstream by 31.9% in the second quarter. AE Wealth Management LLC now owns 6,875 shares of the company's stock valued at $488,000 after acquiring an additional 1,663 shares during the period. Sei Investments Co. increased its holdings in shares of DT Midstream by 50.6% during the second quarter. Sei Investments Co. now owns 145,829 shares of the company's stock valued at $10,358,000 after acquiring an additional 49,018 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of DT Midstream by 185.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,754 shares of the company's stock worth $208,000 after purchasing an additional 1,789 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Stock Performance

DTM stock traded up $0.11 during midday trading on Friday, hitting $111.46. The company's stock had a trading volume of 676,843 shares, compared to its average volume of 809,516. DT Midstream, Inc. has a 1 year low of $51.17 and a 1 year high of $114.50. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 27.12 and a beta of 0.79. The stock's 50-day moving average price is $103.83 and its 200 day moving average price is $88.19. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share 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 the consensus estimate of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter in the previous year, the company posted $0.94 EPS. On average, equities analysts forecast that DT Midstream, Inc. will post 3.84 EPS for the current year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were paid a dividend of $0.735 per share. The ex-dividend date was Monday, December 16th. This represents a $2.94 annualized dividend and a dividend yield of 2.64%. DT Midstream's payout ratio is currently 71.53%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Stifel Nicolaus raised shares of DT Midstream from a "hold" rating to a "buy" rating and lifted their price target for the company from $89.00 to $106.00 in a research report on Thursday, December 19th. Citigroup raised shares of DT Midstream from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $90.00 to $115.00 in a research report on Thursday, November 21st. Barclays began coverage on shares of DT Midstream in a report on Friday, January 10th. They issued an "equal weight" rating and a $112.00 target price on the stock. The Goldman Sachs Group lifted their price target on DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company increased their price objective on DT Midstream from $87.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, DT Midstream currently has a consensus rating of "Hold" and an average price target of $99.88.

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.