ProShare Advisors LLC Has $1.17 Million Position in DT Midstream, Inc. (NYSE:DTM)

ProShare Advisors LLC reduced its stake in DT Midstream, Inc. (NYSE:DTM) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,801 shares of the company’s stock after selling 420 shares during the period. ProShare Advisors LLC’s holdings in DT Midstream were worth $1,173,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of DTM. Blackstone Inc. increased its holdings in shares of DT Midstream by 2,783.1% in the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock valued at $162,199,000 after purchasing an additional 1,574,705 shares during the last quarter. Norges Bank acquired a new position in shares of DT Midstream in the fourth quarter valued at $119,520,000. Bank of Montreal Can increased its holdings in shares of DT Midstream by 733.3% in the fourth quarter. Bank of Montreal Can now owns 458,789 shares of the company’s stock valued at $45,617,000 after purchasing an additional 403,730 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of DT Midstream by 18.7% in the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company’s stock valued at $243,948,000 after purchasing an additional 386,670 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of DT Midstream by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock valued at $1,049,363,000 after acquiring an additional 359,017 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction dated Monday, March 10th. The shares were bought at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have purchased 1,235 shares of company stock worth $109,867. Corporate insiders own 0.34% of the company’s stock.

DT Midstream Trading Down 0.3%

DTM opened at $102.20 on Friday. DT Midstream, Inc. has a twelve month low of $65.43 and a twelve month high of $114.50. The company has a 50-day simple moving average of $97.62 and a 200 day simple moving average of $99.80. 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 stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of 24.87 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 for the quarter, missing the consensus estimate of $1.07 by ($0.01). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The firm had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. During the same period in the prior year, the company earned $0.99 EPS. Analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.21%. DT Midstream’s dividend payout ratio (DPR) is currently 89.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on DTM shares. Morgan Stanley boosted their target price on shares of DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a research report on Tuesday, March 25th. JPMorgan Chase & Co. boosted their target price on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Barclays boosted their target price on shares of DT Midstream from $102.00 to $103.00 and gave the company an “equal weight” rating in a research report on Tuesday. Williams Trading set a $110.00 target price on shares of DT Midstream in a research report on Monday, March 24th. Finally, UBS Group boosted their target price on shares of DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. 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 company. According to MarketBeat.com, DT Midstream has a consensus rating of “Hold” and a consensus target price of $108.36.

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.