Jennison Associates LLC Sells 129,885 Shares of DT Midstream, Inc. (NYSE:DTM)

Jennison Associates LLC reduced its position in DT Midstream, Inc. (NYSE:DTM) by 56.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 101,404 shares of the company’s stock after selling 129,885 shares during the period. Jennison Associates LLC owned 0.10% of DT Midstream worth $5,557,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wetzel Investment Advisors Inc. bought a new stake in shares of DT Midstream in the 4th quarter valued at about $25,000. First Horizon Advisors Inc. boosted its holdings in shares of 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 in the last quarter. Blue Trust Inc. boosted its holdings in shares of 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 in the last quarter. Whittier Trust Co. boosted its holdings in shares of 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 in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of 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 in the last quarter. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Performance

DTM opened at $64.06 on Friday. DT Midstream, Inc. has a 12-month low of $45.10 and a 12-month high of $64.69. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $6.22 billion, a PE ratio of 16.22 and a beta of 0.73. The firm has a 50 day moving average of $60.05 and a two-hundred day moving average of $56.56.

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

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 4.59%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Friday, March 15th. DT Midstream’s payout ratio is 74.43%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DTM shares. Wolfe Research upgraded shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Barclays lifted their target price on shares of DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Finally, Mizuho reiterated a “neutral” rating and issued a $57.00 target price (down from $58.00) on shares of DT Midstream in a research note on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, DT Midstream presently has an average rating of “Hold” and an average target price of $58.50.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was purchased at an average cost of $56.87 per share, with a total value of $56,870.00. Following the acquisition, the director now directly owns 37,289 shares in the company, valued at $2,120,625.43. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.04% of the company’s stock.

DT Midstream Company 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.