Pacer Advisors Inc. Sells 224,330 Shares of DT Midstream, Inc. (NYSE:DTM)

Pacer Advisors Inc. cut its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 70.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,937 shares of the company's stock after selling 224,330 shares during the quarter. Pacer Advisors Inc. owned about 0.10% of DT Midstream worth $7,546,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of DTM. First Horizon Advisors Inc. lifted its stake in DT Midstream by 55.5% during the third quarter. First Horizon Advisors Inc. now owns 1,224 shares of the company's stock valued at $96,000 after purchasing an additional 437 shares during the last quarter. Commerce Bank lifted its position in shares of DT Midstream by 10.7% during the 3rd quarter. Commerce Bank now owns 19,911 shares of the company's stock valued at $1,566,000 after acquiring an additional 1,932 shares during the last quarter. Caprock Group LLC boosted its stake in shares of DT Midstream by 3.7% during the 3rd quarter. Caprock Group LLC now owns 4,058 shares of the company's stock worth $322,000 after acquiring an additional 143 shares in the last quarter. Pathstone Holdings LLC grew its holdings in shares of DT Midstream by 3.3% in the 3rd quarter. Pathstone Holdings LLC now owns 20,679 shares of the company's stock worth $1,633,000 after acquiring an additional 668 shares during the last quarter. Finally, Natixis Advisors LLC raised its position in shares of DT Midstream by 10.6% during the third quarter. Natixis Advisors LLC now owns 24,568 shares of the company's stock worth $1,933,000 after purchasing an additional 2,356 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on DT Midstream from $78.00 to $83.00 and gave the stock a "neutral" rating in a research note on Friday, October 4th. Stifel Nicolaus downgraded shares of DT Midstream from a "buy" rating to a "hold" rating and upped their price target for the company from $78.00 to $89.00 in a research report on Wednesday, October 30th. Morgan Stanley raised their price objective 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. The Goldman Sachs Group boosted their target price on shares of DT Midstream from $66.00 to $74.00 and gave the company a "sell" rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company raised their target price on DT Midstream from $87.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $84.78.

DT Midstream Stock Up 0.1 %

DTM traded up $0.15 during trading on Friday, reaching $108.56. 902,837 shares of the stock traded hands, compared to its average volume of 984,293. The stock's 50-day simple moving average is $88.36 and its two-hundred day simple moving average is $77.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $109.85. The stock has a market cap of $10.55 billion, a price-to-earnings ratio of 26.41 and a beta of 0.71.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). The firm 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 quarter in the prior year, the firm earned $0.94 earnings per share. As a group, equities research analysts expect that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.71%. DT Midstream's dividend payout ratio is currently 71.53%.

About DT Midstream

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.