DT Midstream, Inc. (NYSE:DTM) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 12.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,846 shares of the company's stock after selling 48,571 shares during the period. Principal Financial Group Inc. owned about 0.36% of DT Midstream worth $24,708,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in DT Midstream by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company's stock worth $186,407,000 after buying an additional 266,433 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in DT Midstream by 1.6% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company's stock worth $144,398,000 after buying an additional 37,463 shares in the last quarter. First Trust Advisors LP increased its position in DT Midstream by 284.6% during the fourth quarter. First Trust Advisors LP now owns 1,524,401 shares of the company's stock worth $83,537,000 after buying an additional 1,128,056 shares in the last quarter. Bank of New York Mellon Corp increased its position in DT Midstream by 3.4% during the second quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company's stock worth $82,870,000 after buying an additional 38,305 shares in the last quarter. Finally, Norges Bank purchased a new position in DT Midstream during the fourth quarter worth $61,638,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DTM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on DT Midstream from $75.00 to $78.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on DT Midstream from $77.00 to $87.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Stifel Nicolaus lifted their price objective on DT Midstream from $70.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Finally, Barclays lifted 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. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $70.00.

DT Midstream Trading Down 1.8 %

DT Midstream stock traded down $1.43 during midday trading on Tuesday, reaching $77.16. The stock had a trading volume of 484,954 shares, compared to its average volume of 653,709. DT Midstream, Inc. has a twelve month low of $50.54 and a twelve month high of $78.83. The stock has a market capitalization of $7.49 billion, a PE ratio of 18.82 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. The stock's 50-day simple moving average is $73.45 and its 200 day simple moving average is $66.71.

DT Midstream (NYSE:DTM - Get Free Report) last issued its earnings results 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 return on equity of 9.45% and a net margin of 42.10%. The firm had revenue of $244.00 million for the quarter, compared to analysts' expectations of $236.83 million. During the same quarter last year, the firm earned $0.93 earnings per share. 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. Shareholders 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 3.81%. The ex-dividend date is Monday, September 16th. DT Midstream's dividend payout ratio is presently 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.