Crawford Investment Counsel Inc. trimmed its stake in DT Midstream, Inc. (NYSE:DTM – Free Report) by 28.3% during the 4th quarter, Holdings Channel reports. The firm owned 82,347 shares of the company’s stock after selling 32,494 shares during the quarter. Crawford Investment Counsel Inc.’s holdings in DT Midstream were worth $9,855,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of DTM. V Square Quantitative Management LLC purchased a new position in shares of DT Midstream during the 4th quarter valued at about $28,000. Richardson Financial Services Inc. raised its holdings in shares of DT Midstream by 62.7% during the 4th quarter. Richardson Financial Services Inc. now owns 244 shares of the company’s stock valued at $29,000 after buying an additional 94 shares in the last quarter. WFA of San Diego LLC purchased a new position in shares of DT Midstream during the 2nd quarter valued at about $33,000. Commonwealth Retirement Investments LLC purchased a new position in shares of DT Midstream during the 4th quarter valued at about $36,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of DT Midstream by 39.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock valued at $42,000 after buying an additional 123 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors.
DT Midstream Price Performance
DTM opened at $140.80 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.26 and a current ratio of 1.26. DT Midstream, Inc. has a 52-week low of $98.06 and a 52-week high of $152.88. The stock has a market capitalization of $14.36 billion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 3.07 and a beta of 0.72. The stock’s 50 day moving average price is $140.87 and its 200-day moving average price is $132.20.
DT Midstream Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, June 15th. DT Midstream’s dividend payout ratio is presently 77.88%.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the company. The Goldman Sachs Group lifted their price target on DT Midstream from $111.00 to $127.00 and gave the stock a “sell” rating in a research note on Monday, April 20th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $166.00 price target on shares of DT Midstream in a research note on Friday, May 1st. Mizuho lifted their price target on DT Midstream from $129.00 to $153.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. lifted their price target on DT Midstream from $126.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Finally, Scotiabank began coverage on DT Midstream in a research report on Tuesday, May 26th. They set an “outperform” rating and a $176.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $154.46.
Check Out Our Latest Stock Analysis on DTM
DT Midstream Company Profile
DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.
The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.
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