DT Midstream, Inc. $DTM Stock Sold by TrinityBridge Ltd

TrinityBridge Ltd reduced its holdings in DT Midstream, Inc. (NYSE:DTM) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 808,900 shares of the company’s stock after selling 14,200 shares during the quarter. DT Midstream comprises 2.8% of TrinityBridge Ltd’s holdings, making the stock its 10th largest holding. TrinityBridge Ltd owned 0.79% of DT Midstream worth $96,660,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. increased its stake in DT Midstream by 0.5% in the third quarter. Hennessy Advisors Inc. now owns 154,280 shares of the company’s stock valued at $18,432,000 after purchasing an additional 800 shares in the last quarter. Glenview Trust Co acquired a new position in shares of DT Midstream during the third quarter valued at about $248,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of DT Midstream by 92.4% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 12,700 shares of the company’s stock valued at $1,517,000 after purchasing an additional 6,100 shares during the period. North Dakota State Investment Board boosted its position in shares of DT Midstream by 3.2% during the 3rd quarter. North Dakota State Investment Board now owns 3,115 shares of the company’s stock worth $372,000 after purchasing an additional 97 shares in the last quarter. Finally, Sigma Investment Counselors Inc. boosted its position in shares of DT Midstream by 38.8% during the 3rd quarter. Sigma Investment Counselors Inc. now owns 4,586 shares of the company’s stock worth $548,000 after purchasing an additional 1,283 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $122.52 on Wednesday. The company has a market cap of $12.50 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 1.70 and a beta of 0.73. DT Midstream, Inc. has a 52 week low of $109.12 and a 52 week high of $152.88. The business has a 50 day moving average price of $125.48 and a 200-day moving average price of $134.65. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.66.

DT Midstream (NYSE:DTM) last announced its earnings results on Thursday, October 29th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.03. DT Midstream had a return on equity of 9.59% and a net margin of 35.36%. The company had revenue of $336.00 million for the quarter, compared to analysts’ expectations of $337.63 million. During the same quarter in the previous year, the firm earned $1.13 earnings per share. Equities analysts anticipate that DT Midstream, Inc. will post 4.64 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, December 15th will be paid a dividend of $0.88 per share. The ex-dividend date is Tuesday, December 15th. This represents a $3.52 annualized dividend and a yield of 2.9%. DT Midstream’s dividend payout ratio (DPR) is 76.52%.

Wall Street Analyst Weigh In

DTM has been the subject of several research reports. Morgan Stanley reduced their target price on DT Midstream from $164.00 to $161.00 and set an “overweight” rating for the company in a research note on Tuesday. Wall Street Zen downgraded DT Midstream from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Scotiabank dropped their price target on DT Midstream from $165.00 to $161.00 and set a “sector outperform” rating on the stock in a research note on Tuesday. The Goldman Sachs Group reiterated a “sell” rating and issued a $121.00 price target on shares of DT Midstream in a report on Wednesday, October 14th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $150.00 price objective on shares of DT Midstream in a research note on Thursday, October 15th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $151.00.

DT Midstream Company Profile

DT Midstream, Inc (NYSE: DTM) is an independent North American energy company focused on the transportation, storage and gathering of natural gas. The company owns and operates interstate and intrastate pipeline systems, natural gas storage facilities, and gathering and processing infrastructure that connect producers with utilities, power generators, industrial customers and other energy markets.

DT Midstream’s operations are concentrated in the United States, including the Midwest, Northeast and Gulf Coast regions.