Bank of America Corp DE Cuts Stock Position in DT Midstream, Inc. (NYSE:DTM)

Bank of America Corp DE lessened its stake in DT Midstream, Inc. (NYSE:DTM) by 26.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 266,732 shares of the company’s stock after selling 95,433 shares during the period. Bank of America Corp DE owned 0.27% of DT Midstream worth $26,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DTM. Bessemer Group Inc. grew its stake in DT Midstream by 61.6% in the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock valued at $30,000 after purchasing an additional 117 shares during the last quarter. AdvisorNet Financial Inc grew its stake in DT Midstream by 106.7% in the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after purchasing an additional 160 shares during the last quarter. Sound Income Strategies LLC grew its stake in DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after purchasing an additional 163 shares during the last quarter. UMB Bank n.a. grew its stake in DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock valued at $48,000 after purchasing an additional 167 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in DT Midstream in the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Insider Buying and Selling at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, the director now owns 38,653 shares of the company’s stock, valued at $3,359,718.76. The trade was a 2.66% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders purchased 1,235 shares of company stock valued at $109,867. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DTM. Raymond James boosted their price target on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. UBS Group boosted their price target on DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Morgan Stanley boosted their price target on DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 25th. Stifel Nicolaus dropped their price target on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Williams Trading set a $110.00 price target on DT Midstream in a research note on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, DT Midstream presently has an average rating of “Hold” and a consensus target price of $108.27.

DT Midstream Trading Up 0.5%

DT Midstream stock opened at $104.04 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a 52 week low of $65.43 and a 52 week high of $114.50. The company has a market capitalization of $10.57 billion, a price-to-earnings ratio of 25.31 and a beta of 0.77. The stock has a 50-day moving average price of $96.96 and a 200 day moving average price of $99.50.

DT Midstream (NYSE:DTM) last released its earnings results on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The firm had revenue of $288.81 million for the quarter, compared to analyst estimates of $285.48 million. During the same period last year, the firm earned $0.99 EPS. Sell-side analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Monday, June 16th. DT Midstream’s dividend payout ratio (DPR) is 89.37%.

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.