DT Midstream, Inc. $DTM Stake Trimmed by ProShare Advisors LLC

ProShare Advisors LLC trimmed its position in shares of DT Midstream, Inc. (NYSE:DTM) by 6.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,939 shares of the company’s stock after selling 13,809 shares during the quarter. ProShare Advisors LLC’s holdings in DT Midstream were worth $24,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Premier Financial Group purchased a new stake in shares of DT Midstream in the second quarter valued at about $33,000. Western Wealth Management LLC bought a new position in shares of DT Midstream during the first quarter valued at about $32,000. Continuum Advisory LLC purchased a new position in DT Midstream during the second quarter worth about $36,000. Cassaday & Co Wealth Management LLC purchased a new position in DT Midstream during the first quarter worth about $41,000. Finally, Ulland Investment Advisors LLC purchased a new position in DT Midstream during the third quarter worth about $39,000. Institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Down 2.6%

Shares of DT Midstream stock opened at $121.11 on Tuesday. The firm has a market cap of $12.36 billion, a PE ratio of 26.33, a P/E/G ratio of 1.74 and a beta of 0.72. DT Midstream, Inc. has a 1 year low of $108.13 and a 1 year high of $152.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a fifty day moving average price of $125.55 and a 200-day moving average price of $134.63.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03. The company had revenue of $336.00 million for the quarter, compared to the consensus estimate of $337.63 million. DT Midstream had a net margin of 35.72% and a return on equity of 9.58%. During the same period in the previous year, the firm earned $1.13 EPS. Equities research analysts anticipate that DT Midstream, Inc. will post 4.64 EPS for the current year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Tuesday, December 15th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, December 15th. DT Midstream’s dividend payout ratio (DPR) is 76.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DTM shares. Mizuho reduced their price objective on shares of DT Midstream from $153.00 to $147.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Jefferies Financial Group reissued a “buy” rating and set a $150.00 target price on shares of DT Midstream in a research report on Thursday, October 15th. The Goldman Sachs Group reissued a “sell” rating and set a $121.00 target price on shares of DT Midstream in a research report on Wednesday, October 14th. Wall Street Zen downgraded DT Midstream from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Barclays reduced their target price on DT Midstream from $143.00 to $142.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.50.

DT Midstream Profile

DT Midstream, Inc (NYSE: DTM) is an independent North American energy company focused on the transportation, storage and gathering of natural gas. The company owns and operates interstate and intrastate pipeline systems, natural gas storage facilities, and gathering and processing infrastructure that connect producers with utilities, power generators, industrial customers and other energy markets.

DT Midstream’s operations are concentrated in the United States, including the Midwest, Northeast and Gulf Coast regions.