Coldstream Capital Management Inc. Lowers Stock Position in DT Midstream, Inc. (NYSE:DTM)

Coldstream Capital Management Inc. lowered its position in DT Midstream, Inc. (NYSE:DTM) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,664 shares of the company’s stock after selling 271 shares during the quarter. Coldstream Capital Management Inc.’s holdings in DT Midstream were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Hancock Whitney Corp increased its position in DT Midstream by 41.5% during the 4th quarter. Hancock Whitney Corp now owns 10,522 shares of the company’s stock worth $1,046,000 after purchasing an additional 3,088 shares in the last quarter. Voya Investment Management LLC increased its position in shares of DT Midstream by 16.9% in the fourth quarter. Voya Investment Management LLC now owns 133,155 shares of the company’s stock worth $13,240,000 after acquiring an additional 19,297 shares in the last quarter. Candelo Capital Management LP purchased a new position in shares of DT Midstream in the 4th quarter valued at $5,638,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of DT Midstream by 11.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 59,369 shares of the company’s stock valued at $5,904,000 after acquiring an additional 5,866 shares in the last quarter. Finally, Pinebridge Investments L.P. boosted its position in DT Midstream by 43.0% during the 4th quarter. Pinebridge Investments L.P. now owns 39,767 shares of the company’s stock worth $3,954,000 after purchasing an additional 11,964 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the transaction, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on DTM shares. Bank of America began coverage on DT Midstream in a research report on Monday, March 24th. They issued a “buy” rating and a $110.00 target price for the company. Williams Trading set a $110.00 price objective on shares of DT Midstream in a research report on Monday, March 24th. UBS Group boosted their target price on shares of DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, Morgan Stanley raised their target price on DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a research note on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.27.

DT Midstream Stock Up 0.6 %

DTM stock opened at $97.79 on Friday. The firm has a fifty day moving average price of $94.88 and a two-hundred day moving average price of $98.33. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream, Inc. has a 1-year low of $61.94 and a 1-year high of $114.50. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of 23.79 and a beta of 0.77.

DT Midstream (NYSE:DTM) last issued its earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). The business had revenue of $288.81 million during the quarter, compared to the consensus estimate of $285.48 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same period in the prior year, the business earned $0.99 EPS. Research analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream’s payout ratio is 91.11%.

About DT Midstream

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.