Wedge Capital Management L L P NC Reduces Position in DT Midstream, Inc. (NYSE:DTM)

Wedge Capital Management L L P NC cut its position in shares of DT Midstream, Inc. (NYSE:DTM) by 33.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,806 shares of the company’s stock after selling 34,334 shares during the period. Wedge Capital Management L L P NC owned approximately 0.07% of DT Midstream worth $3,716,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DTM. Wetzel Investment Advisors Inc. purchased a new stake in DT Midstream in the 4th quarter valued at about $25,000. First Horizon Advisors Inc. boosted its position in DT Midstream by 192.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 947 shares of the company’s stock valued at $50,000 after buying an additional 623 shares during the period. Blue Trust Inc. boosted its position in DT Midstream by 28.3% in the 4th quarter. Blue Trust Inc. now owns 992 shares of the company’s stock valued at $53,000 after buying an additional 219 shares during the period. Larson Financial Group LLC boosted its position in DT Midstream by 32.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,720 shares of the company’s stock valued at $91,000 after buying an additional 425 shares during the period. Finally, Whittier Trust Co. boosted its position in DT Midstream by 175.0% in the 4th quarter. Whittier Trust Co. now owns 1,672 shares of the company’s stock valued at $92,000 after buying an additional 1,064 shares during the period. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Trading Up 1.8 %

NYSE:DTM opened at $64.20 on Thursday. DT Midstream, Inc. has a one year low of $45.10 and a one year high of $64.21. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $6.23 billion, a P/E ratio of 16.25 and a beta of 0.73. The firm has a 50-day simple moving average of $59.62 and a 200-day simple moving average of $56.43.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Friday, February 16th. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.92 by $0.32. The firm had revenue of $244.00 million during the quarter, compared to analyst estimates of $235.19 million. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. During the same quarter in the previous year, the business posted $0.93 EPS. Equities analysts anticipate that DT Midstream, Inc. will post 3.95 EPS for the current fiscal year.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 18th were paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend was Friday, March 15th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.69. DT Midstream’s payout ratio is 74.43%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DTM. Mizuho reissued a “neutral” rating and issued a $57.00 price objective (down from $58.00) on shares of DT Midstream in a research report on Friday, January 5th. Wolfe Research raised shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Finally, Barclays boosted their price target on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $58.50.

Insider Buying and Selling

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $56.87 per share, for a total transaction of $56,870.00. Following the purchase, the director now directly owns 37,289 shares in the company, valued at approximately $2,120,625.43. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is currently owned by company insiders.

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.