Exchange Traded Concepts LLC Sells 9,463 Shares of DT Midstream, Inc. $DTM

Exchange Traded Concepts LLC trimmed its stake in DT Midstream, Inc. (NYSE:DTM) by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,732 shares of the company’s stock after selling 9,463 shares during the period. Exchange Traded Concepts LLC’s holdings in DT Midstream were worth $11,098,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Mather Group LLC. purchased a new position in shares of DT Midstream during the third quarter valued at about $30,000. Centerpoint Advisors LLC lifted its holdings in DT Midstream by 198.9% in the third quarter. Centerpoint Advisors LLC now owns 269 shares of the company’s stock worth $30,000 after buying an additional 179 shares during the period. First Horizon Corp purchased a new stake in DT Midstream in the third quarter worth about $32,000. Cary Street Partners Investment Advisory LLC bought a new stake in DT Midstream during the 2nd quarter valued at approximately $33,000. Finally, Root Financial Partners LLC bought a new stake in DT Midstream during the 3rd quarter valued at approximately $33,000. Institutional investors own 81.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Morgan Stanley increased their target price on DT Midstream from $137.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 10th. Mizuho lifted their price target on DT Midstream from $108.00 to $129.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, January 21st. Wells Fargo & Company increased their price objective on DT Midstream from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Finally, Stifel Nicolaus set a $137.00 price objective on DT Midstream and gave the company a “hold” rating in a research report on Monday, February 23rd. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, DT Midstream presently has a consensus rating of “Hold” and an average price target of $144.10.

Insider Buying and Selling at DT Midstream

In other news, CFO Jeffrey A. Jewell acquired 185 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average cost of $136.33 per share, for a total transaction of $25,221.05. Following the acquisition, the chief financial officer directly owned 89,583 shares in the company, valued at approximately $12,212,850.39. The trade was a 0.21% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by company insiders.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $135.21 on Monday. DT Midstream, Inc. has a 1 year low of $83.30 and a 1 year high of $143.67. The firm’s 50-day moving average is $132.67 and its 200 day moving average is $121.00. The stock has a market cap of $13.79 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 2.80 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Thursday, February 19th. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). The firm had revenue of $317.00 million for the quarter, compared to the consensus estimate of $320.07 million. DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. During the same quarter in the prior year, the business posted $0.94 earnings per share. Sell-side analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 16th. DT Midstream’s payout ratio is 81.67%.

About DT Midstream

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.