Energy Income Partners LLC Has $197.56 Million Position in DT Midstream, Inc. (NYSE:DTM)

Energy Income Partners LLC trimmed its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 6.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 3,233,313 shares of the company’s stock after selling 230,409 shares during the quarter. DT Midstream comprises about 4.0% of Energy Income Partners LLC’s portfolio, making the stock its 5th biggest holding. Energy Income Partners LLC owned approximately 3.33% of DT Midstream worth $197,555,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in shares of DT Midstream by 8.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock valued at $186,407,000 after acquiring an additional 266,433 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of DT Midstream by 1.6% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company’s stock valued at $144,398,000 after acquiring an additional 37,463 shares during the period. First Trust Advisors LP lifted its position in shares of DT Midstream by 284.6% during the 4th quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock valued at $83,537,000 after acquiring an additional 1,128,056 shares during the period. Norges Bank bought a new stake in shares of DT Midstream during the 4th quarter valued at $61,638,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of DT Midstream by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 841,896 shares of the company’s stock valued at $46,136,000 after acquiring an additional 44,482 shares during the period. 81.53% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Jeffrey A. Jewell purchased 400 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $62.80 per share, with a total value of $25,120.00. Following the completion of the purchase, the chief financial officer now owns 44,285 shares in the company, valued at approximately $2,781,098. 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.

Analyst Ratings Changes

Several analysts recently weighed in on DTM shares. US Capital Advisors downgraded DT Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Wells Fargo & Company upgraded DT Midstream from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $62.00 to $77.00 in a research report on Tuesday, June 4th. Stifel Nicolaus upped their price objective on DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Mizuho upped their price objective on DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. Finally, Barclays upped their price objective on DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned 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 $65.67.

DT Midstream Price Performance

DTM traded down $0.56 on Friday, reaching $73.74. The stock had a trading volume of 904,932 shares, compared to its average volume of 670,014. DT Midstream, Inc. has a fifty-two week low of $50.54 and a fifty-two week high of $76.01. The firm has a 50-day moving average of $69.60 and a 200-day moving average of $62.60. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 17.99 and a beta of 0.74.

DT Midstream (NYSE:DTM) last issued its earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $240.00 million during the quarter, compared to analysts’ expectations of $242.62 million. DT Midstream had a return on equity of 9.41% and a net margin of 42.46%. During the same quarter in the prior year, the firm earned $0.84 EPS. As a group, sell-side analysts anticipate that DT Midstream, Inc. will post 3.95 EPS for the current year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, June 17th were paid a $0.735 dividend. The ex-dividend date was Monday, June 17th. This represents a $2.94 annualized dividend and a dividend yield of 3.99%. DT Midstream’s payout ratio is 71.71%.

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.