DT Midstream, Inc. (NYSE:DTM) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,127 shares of the company’s stock after selling 227 shares during the period. Amalgamated Bank owned about 0.07% of DT Midstream worth $3,459,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Deutsche Bank AG raised its holdings in shares of DT Midstream by 1,176.7% during the third quarter. Deutsche Bank AG now owns 867,145 shares of the company’s stock valued at $45,889,000 after acquiring an additional 799,224 shares during the last quarter. Eagle Global Advisors LLC acquired a new position in DT Midstream in the 3rd quarter valued at $8,590,000. Envestnet Asset Management Inc. lifted its holdings in DT Midstream by 186.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 157,152 shares of the company’s stock valued at $8,316,000 after purchasing an additional 102,255 shares in the last quarter. Covalis Capital LLP acquired a new stake in DT Midstream during the 3rd quarter worth $5,077,000. Finally, Comerica Bank grew its holdings in shares of DT Midstream by 11,073.2% during the third quarter. Comerica Bank now owns 86,257 shares of the company’s stock worth $4,565,000 after buying an additional 85,485 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Insider Activity

In other news, CFO Jeffrey A. Jewell bought 400 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $62.80 per share, for a total transaction of $25,120.00. Following the acquisition, the chief financial officer now directly owns 44,285 shares of the company’s stock, valued at approximately $2,781,098. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the acquisition, the director now owns 37,289 shares in the company, valued at approximately $2,120,625.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeffrey A. Jewell purchased 400 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $62.80 per share, for a total transaction of $25,120.00. Following the acquisition, the chief financial officer now owns 44,285 shares in the company, valued at $2,781,098. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

DT Midstream Stock Performance

NYSE DTM opened at $65.30 on Friday. The stock has a market cap of $6.34 billion, a PE ratio of 15.93 and a beta of 0.72. DT Midstream, Inc. has a twelve month low of $45.20 and a twelve month high of $65.36. The stock has a fifty day simple moving average of $61.26 and a 200-day simple moving average of $57.07. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. The business had revenue of $240.00 million during the quarter, compared to analysts’ expectations of $242.62 million. During the same period last year, the business earned $0.84 earnings per share. Equities analysts anticipate that DT Midstream, Inc. will post 3.93 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.94 annualized dividend and a dividend yield of 4.50%. DT Midstream’s dividend payout ratio is currently 71.71%.

Wall Street Analysts Forecast Growth

DTM has been the topic of a number of recent research reports. Mizuho boosted their price target on shares of DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. US Capital Advisors lowered DT Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Barclays lifted their price objective on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Stifel Nicolaus upped their target price on DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Wolfe Research upgraded DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $61.50.

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.