Russell Investments Group Ltd. Lowers Stake in DT Midstream, Inc. (NYSE:DTM)

Russell Investments Group Ltd. trimmed its holdings in DT Midstream, Inc. (NYSE:DTM) by 11.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 701,023 shares of the company’s stock after selling 90,478 shares during the period. Russell Investments Group Ltd. owned 0.72% of DT Midstream worth $38,416,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Wetzel Investment Advisors Inc. acquired a new position in shares of DT Midstream in the fourth quarter valued at approximately $25,000. First Horizon Advisors Inc. increased its stake in DT Midstream by 192.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 947 shares of the company’s stock valued at $50,000 after buying an additional 623 shares during the period. GAMMA Investing LLC purchased a new position in DT Midstream during the 4th quarter worth $52,000. Blue Trust Inc. lifted its stake in shares of DT Midstream by 28.3% in the 4th quarter. Blue Trust Inc. now owns 992 shares of the company’s stock worth $53,000 after acquiring an additional 219 shares during the period. Finally, Larson Financial Group LLC lifted its stake in shares of DT Midstream by 32.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,720 shares of the company’s stock worth $91,000 after acquiring an additional 425 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $56.87 per share, with a total value of $56,870.00. Following the completion of the purchase, the director now directly owns 37,289 shares in the company, valued at $2,120,625.43. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wolfe Research upgraded shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, February 20th. Mizuho increased their target price on DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Barclays raised their price target on DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.83.

DT Midstream Price Performance

Shares of NYSE DTM opened at $63.19 on Tuesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.72. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of 16.00 and a beta of 0.73. The company’s 50-day moving average price is $60.22 and its 200 day moving average price is $56.65. DT Midstream, Inc. has a 52 week low of $45.10 and a 52 week high of $64.69.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Friday, February 16th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $0.92 by $0.32. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. The business had revenue of $244.00 million for the quarter, compared to analyst estimates of $235.19 million. During the same period in the prior year, the business earned $0.93 earnings per share. As a group, research analysts forecast that DT Midstream, Inc. will post 3.95 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.65%. This is a boost from DT Midstream’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Friday, March 15th. DT Midstream’s payout ratio is 74.43%.

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.