Duff & Phelps Investment Management Co. Sells 5,502 Shares of DT Midstream, Inc. $DTM

Duff & Phelps Investment Management Co. lessened its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 1.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 452,797 shares of the company’s stock after selling 5,502 shares during the period. Duff & Phelps Investment Management Co.’s holdings in DT Midstream were worth $51,193,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Private Trust Co. NA increased its position in shares of DT Midstream by 23.6% during the 3rd quarter. Private Trust Co. NA now owns 535 shares of the company’s stock worth $60,000 after purchasing an additional 102 shares during the last quarter. Cresset Asset Management LLC grew its stake in shares of DT Midstream by 1.7% in the third quarter. Cresset Asset Management LLC now owns 6,408 shares of the company’s stock valued at $730,000 after buying an additional 108 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of DT Midstream by 39.3% in the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock valued at $42,000 after buying an additional 123 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in DT Midstream by 15.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 970 shares of the company’s stock worth $107,000 after buying an additional 130 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in DT Midstream by 48.6% during the third quarter. Smartleaf Asset Management LLC now owns 416 shares of the company’s stock worth $47,000 after buying an additional 136 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Jeffrey A. Jewell purchased 185 shares of the stock in a transaction on Wednesday, February 25th. The shares were purchased at an average cost of $136.33 per share, with a total value of $25,221.05. Following the acquisition, the chief financial officer directly owned 89,583 shares in the company, valued at $12,212,850.39. The trade was a 0.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.34% of the stock is currently owned by corporate insiders.

DT Midstream Trading Down 0.4%

DTM stock opened at $138.80 on Thursday. DT Midstream, Inc. has a one year low of $83.30 and a one year high of $143.67. The stock has a market cap of $14.12 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 2.87 and a beta of 0.75. The company has a fifty day moving average price of $128.51 and a two-hundred day moving average price of $118.19. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Thursday, February 19th. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.03). The company had revenue of $317.00 million during the quarter, compared to the consensus estimate of $320.07 million. DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. During the same period in the previous year, the company earned $0.94 earnings per share. Equities analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be paid a $0.88 dividend. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 16th. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. DT Midstream’s dividend payout ratio (DPR) is currently 81.67%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup increased their price target on shares of DT Midstream from $130.00 to $156.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Wall Street Zen lowered shares of DT Midstream from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Barclays upped their target price on shares of DT Midstream from $119.00 to $141.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Bank of America raised their target price on shares of DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Finally, UBS Group boosted their price target on DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, DT Midstream currently has an average rating of “Hold” and an average price target of $139.64.

About DT Midstream

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.