Commerce Bank Raises Stock Position in DT Midstream, Inc. (NYSE:DTM)

Commerce Bank increased its position in DT Midstream, Inc. (NYSE:DTM) by 10.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,911 shares of the company’s stock after acquiring an additional 1,932 shares during the period. Commerce Bank’s holdings in DT Midstream were worth $1,566,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of DTM. Dimensional Fund Advisors LP grew its holdings in DT Midstream by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock valued at $312,070,000 after purchasing an additional 490,613 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in DT Midstream by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock valued at $82,870,000 after acquiring an additional 38,305 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its holdings in DT Midstream by 6.3% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock valued at $72,737,000 after acquiring an additional 60,370 shares in the last quarter. International Assets Investment Management LLC acquired a new position in DT Midstream during the third quarter worth about $39,166,000. Finally, Chickasaw Capital Management LLC lifted its holdings in shares of DT Midstream by 24.5% in the third quarter. Chickasaw Capital Management LLC now owns 302,600 shares of the company’s stock valued at $23,803,000 after purchasing an additional 59,540 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DTM shares. Wells Fargo & Company lifted their price objective on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. The Goldman Sachs Group boosted their target price on shares of DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and raised their price target for the stock from $90.00 to $115.00 in a research note on Thursday. Finally, Morgan Stanley boosted their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, DT Midstream presently has an average rating of “Hold” and an average target price of $84.78.

DT Midstream Price Performance

DT Midstream stock opened at $108.56 on Friday. DT Midstream, Inc. has a 1 year low of $51.17 and a 1 year high of $109.85. 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 firm has a 50 day moving average price of $88.36 and a 200 day moving average price of $77.29. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 26.41 and a beta of 0.71.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). The company had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $242.64 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 $0.94 earnings per share. Sell-side analysts predict that DT Midstream, Inc. will post 3.96 earnings per share for the current year.

DT Midstream Announces Dividend

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

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.