DT Midstream, Inc. (NYSE:DTM) Shares Sold by Pacer Advisors Inc.

by · The Markets Daily

Pacer Advisors Inc. cut its position in shares of DT Midstream, Inc. (NYSE:DTM – Free Report) by 70.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,937 shares of the company’s stock after selling 224,330 shares during the quarter. Pacer Advisors Inc.’s holdings in DT Midstream were worth $7,546,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in DTM. Cetera Investment Advisers lifted its position in shares of DT Midstream by 1,223.2% in the 1st quarter. Cetera Investment Advisers now owns 54,107 shares of the company’s stock worth $3,306,000 after buying an additional 50,018 shares during the last quarter. Atria Investments Inc bought a new position in DT Midstream in the third quarter worth about $666,000. Envestnet Asset Management Inc. boosted its stake in DT Midstream by 15.3% in the second quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock valued at $8,657,000 after acquiring an additional 16,171 shares during the period. GSA Capital Partners LLP grew its holdings in shares of DT Midstream by 31.9% during the third quarter. GSA Capital Partners LLP now owns 27,209 shares of the company’s stock valued at $2,140,000 after purchasing an additional 6,575 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of DT Midstream during the 2nd quarter worth approximately $764,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DTM. The Goldman Sachs Group upped their price objective on DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Wells Fargo & Company boosted their target price on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Barclays raised their price target on shares of DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $115.00 in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $84.78.

Read Our Latest Research Report on DTM

DT Midstream Stock Up 0.1 %

DTM opened at $108.56 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $10.55 billion, a PE ratio of 26.41 and a beta of 0.71. The stock’s fifty day moving average is $88.36 and its 200-day moving average is $77.29. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $109.85.

DT Midstream (NYSE:DTM – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. During the same quarter last year, the firm posted $0.94 earnings per share. On average, equities analysts predict that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Monday, December 16th. DT Midstream’s payout ratio is 71.53%.

DT Midstream Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding DTM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DT Midstream, Inc. (NYSE:DTM – Free Report).