DT Midstream, Inc. (NYSE:DTM) Shares Sold by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. cut its holdings in DT Midstream, Inc. (NYSE:DTM) by 80.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,325 shares of the company’s stock after selling 77,167 shares during the quarter. Alyeska Investment Group L.P.’s holdings in DT Midstream were worth $1,921,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Louisiana State Employees Retirement System increased its holdings in DT Midstream by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock worth $2,685,000 after acquiring an additional 100 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in DT Midstream by 15.0% during the fourth quarter. Jones Financial Companies Lllp now owns 768 shares of the company’s stock valued at $76,000 after purchasing an additional 100 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of DT Midstream by 17.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock valued at $69,000 after purchasing an additional 105 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of DT Midstream by 1.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock worth $1,235,000 after purchasing an additional 116 shares in the last quarter. Finally, Lakeshore Financial Planning Inc. raised its position in shares of DT Midstream by 4.2% during the 4th quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company’s stock worth $285,000 after purchasing an additional 116 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Price Performance

Shares of DTM stock opened at $100.66 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $10.23 billion, a PE ratio of 24.49 and a beta of 0.77. The firm’s 50-day moving average is $95.28 and its two-hundred day moving average is $98.72. DT Midstream, Inc. has a 12 month low of $63.65 and a 12 month high of $114.50.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). The firm had revenue of $288.81 million for the quarter, compared to analysts’ expectations of $285.48 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 firm posted $0.99 EPS. Analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Monday, June 16th. DT Midstream’s dividend payout ratio is presently 89.37%.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction on Monday, March 10th. The stock was bought at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the purchase, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wells Fargo & Company lowered their price objective on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. UBS Group boosted their price target on DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. US Capital Advisors lowered DT Midstream from a “moderate buy” rating to a “hold” rating in a report on Monday, April 28th. JPMorgan Chase & Co. upped their target price on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, Raymond James raised their price target on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $108.27.

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.