BROOKFIELD Corp ON Sells 70,155 Shares of DT Midstream, Inc. (NYSE:DTM)

BROOKFIELD Corp ON lowered its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 6.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 968,346 shares of the company’s stock after selling 70,155 shares during the quarter. DT Midstream makes up approximately 0.6% of BROOKFIELD Corp ON’s holdings, making the stock its 23rd biggest holding. BROOKFIELD Corp ON’s holdings in DT Midstream were worth $96,283,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Barclays PLC grew its stake in shares of DT Midstream by 3.7% during the third quarter. Barclays PLC now owns 283,363 shares of the company’s stock valued at $22,289,000 after purchasing an additional 10,074 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of DT Midstream in the 3rd quarter valued at $29,000. GAMMA Investing LLC raised its position in shares of DT Midstream by 53.4% during the fourth quarter. GAMMA Investing LLC now owns 3,985 shares of the company’s stock worth $396,000 after acquiring an additional 1,388 shares during the last quarter. Advance Capital Management Inc. acquired a new position in shares of DT Midstream during the fourth quarter valued at $296,000. Finally, Chickasaw Capital Management LLC increased its position in DT Midstream by 4.8% in the fourth quarter. Chickasaw Capital Management LLC now owns 317,231 shares of the company’s stock worth $31,542,000 after purchasing an additional 14,631 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

Insider Buying and Selling at DT Midstream

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

DT Midstream Stock Up 0.9 %

DT Midstream stock opened at $101.60 on Tuesday. DT Midstream, Inc. has a twelve month low of $62.90 and a twelve month high of $114.50. 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 50 day moving average of $95.12 and a 200-day moving average of $98.70. The stock has a market capitalization of $10.32 billion, a PE ratio of 24.72 and a beta of 0.77.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data 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 analyst estimates of $285.48 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter last year, the business earned $0.99 earnings per share. On average, equities research analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream’s dividend payout ratio (DPR) is 89.37%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DTM. Raymond James raised their target price on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Stifel Nicolaus lowered their target price on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Bank of America started coverage on DT Midstream in a research note on Monday, March 24th. They issued a “buy” rating and a $110.00 price target on the stock. US Capital Advisors cut DT Midstream from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 28th. Finally, Morgan Stanley increased 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 analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $108.27.

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.