Ameriprise Financial Inc. Sells 5,578 Shares of DT Midstream, Inc. (NYSE:DTM)

Ameriprise Financial Inc. reduced its holdings in DT Midstream, Inc. (NYSE:DTM) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,280 shares of the company’s stock after selling 5,578 shares during the period. Ameriprise Financial Inc.’s holdings in DT Midstream were worth $11,075,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Algert Global LLC bought a new position in DT Midstream in the 4th quarter worth approximately $1,171,000. Freestone Grove Partners LP bought a new position in DT Midstream in the 4th quarter worth approximately $9,413,000. PDT Partners LLC acquired a new stake in shares of DT Midstream during the 4th quarter worth approximately $4,030,000. AQR Capital Management LLC grew its holdings in shares of DT Midstream by 18.4% during the 4th quarter. AQR Capital Management LLC now owns 503,390 shares of the company’s stock worth $50,052,000 after purchasing an additional 78,167 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of DT Midstream by 37.7% during the 4th quarter. Northern Trust Corp now owns 1,062,397 shares of the company’s stock worth $105,634,000 after purchasing an additional 291,039 shares in the last quarter. 81.53% of the stock is owned by institutional investors.

DT Midstream Price Performance

Shares of DTM stock opened at $104.04 on Monday. The stock’s fifty day simple moving average is $96.96 and its 200 day simple moving average is $99.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $10.57 billion, a price-to-earnings ratio of 25.31 and a beta of 0.77. DT Midstream, Inc. has a one year low of $65.43 and a one year high of $114.50.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). The company had revenue of $288.81 million during the quarter, compared to analyst estimates of $285.48 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same period in the prior year, the firm earned $0.99 EPS. On average, analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Monday, June 16th. DT Midstream’s dividend payout ratio is currently 89.37%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DTM. Barclays decreased their price objective on DT Midstream from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Williams Trading set a $110.00 price objective on DT Midstream in a report on Monday, March 24th. UBS Group lifted their price objective on DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Morgan Stanley lifted their price objective on DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a report on Tuesday, March 25th. Finally, Stifel Nicolaus decreased their price objective on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, DT Midstream currently has an average rating of “Hold” and an average target price of $108.27.

Insiders Place Their Bets

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction on Monday, March 10th. The shares were bought at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the purchase, the director now owns 38,653 shares in the company, valued at $3,359,718.76. This trade represents a 2.66% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have acquired 1,235 shares of company stock valued at $109,867. 0.34% of the stock is currently owned by corporate insiders.

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.