Charles Schwab Investment Management Inc. Purchases 267,269 Shares of DT Midstream, Inc. (NYSE:DTM)

Charles Schwab Investment Management Inc. increased its position in shares of DT Midstream, Inc. (NYSE:DTM) by 30.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,156,598 shares of the company’s stock after acquiring an additional 267,269 shares during the period. Charles Schwab Investment Management Inc.’s holdings in DT Midstream were worth $90,978,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of DTM. Dimensional Fund Advisors LP grew its position in shares of DT Midstream by 12.6% during the 2nd 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in DT Midstream by 3.4% during the second quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock valued at $82,870,000 after buying an additional 38,305 shares during the period. Tortoise Capital Advisors L.L.C. grew its position in DT Midstream by 6.3% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock worth $72,737,000 after buying an additional 60,370 shares in the last quarter. International Assets Investment Management LLC bought a new position in DT Midstream in the 3rd quarter worth about $39,166,000. Finally, Chickasaw Capital Management LLC increased its stake in DT Midstream by 24.5% in the 3rd quarter. Chickasaw Capital Management LLC now owns 302,600 shares of the company’s stock worth $23,803,000 after acquiring an additional 59,540 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on DTM. The Goldman Sachs Group boosted their price objective on DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price target 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. Barclays lifted their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Morgan Stanley increased their target price on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company raised their price target on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $84.78.

DT Midstream Stock Up 1.0 %

Shares of DT Midstream stock opened at $106.75 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. DT Midstream, Inc. has a 52-week low of $51.17 and a 52-week high of $109.85. The company’s 50 day moving average price is $88.93 and its 200-day moving average price is $77.67. The stock has a market capitalization of $10.37 billion, a price-to-earnings ratio of 25.97 and a beta of 0.71.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The firm had revenue of $248.00 million during 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 quarter in the previous year, the firm posted $0.94 EPS. Equities research analysts forecast that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Monday, December 16th. DT Midstream’s payout ratio is 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.