DT Midstream, Inc. (NYSE:DTM) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC trimmed its position in shares of DT Midstream, Inc. (NYSE:DTM) by 13.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 251,526 shares of the company’s stock after selling 39,137 shares during the quarter. Verition Fund Management LLC owned 0.26% of DT Midstream worth $19,785,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Atria Investments Inc purchased a new position in DT Midstream in the third quarter worth $666,000. Cetera Investment Advisers boosted its holdings in DT Midstream by 1,223.2% during the first quarter. Cetera Investment Advisers now owns 54,107 shares of the company’s stock worth $3,306,000 after buying an additional 50,018 shares in the last quarter. Envestnet Asset Management Inc. grew its position in DT Midstream by 15.3% during the second quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock worth $8,657,000 after buying an additional 16,171 shares during the period. GSA Capital Partners LLP increased its holdings in DT Midstream by 31.9% in the third quarter. GSA Capital Partners LLP now owns 27,209 shares of the company’s stock valued at $2,140,000 after buying an additional 6,575 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of DT Midstream by 151.8% during the 3rd quarter. Victory Capital Management Inc. now owns 113,374 shares of the company’s stock valued at $8,918,000 after acquiring an additional 68,350 shares during the period. 81.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on DTM shares. JPMorgan Chase & Co. raised their price target on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. The Goldman Sachs Group lifted their target price on shares of DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and increased their price target for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Barclays lifted their price objective on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Morgan Stanley upped their target price on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $84.78.

DT Midstream Trading Up 0.3 %

Shares of NYSE:DTM opened at $106.12 on Friday. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $109.85. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a market cap of $10.31 billion, a PE ratio of 25.82 and a beta of 0.71. The company’s 50-day moving average price is $90.66 and its 200 day moving average price is $78.35.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The business 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 period last year, the business posted $0.94 earnings per share. Sell-side analysts anticipate that DT Midstream, Inc. will post 3.85 earnings per share for the current year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Monday, December 16th. DT Midstream’s payout ratio is currently 71.53%.

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.