DT Midstream, Inc. (NYSE:DTM) Shares Acquired by Fmr LLC

Fmr LLC boosted its stake in DT Midstream, Inc. (NYSE:DTM) by 1,476.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 805,950 shares of the company’s stock after acquiring an additional 754,839 shares during the period. Fmr LLC owned 0.83% of DT Midstream worth $63,396,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of 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 period. Bank of New York Mellon Corp increased its stake in DT Midstream by 3.4% in 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 buying an additional 38,305 shares during the period. Charles Schwab Investment Management Inc. raised its position in DT Midstream by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after buying an additional 267,269 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position 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 worth $72,737,000 after buying an additional 60,370 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of DT Midstream in the third quarter valued at about $39,166,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Trading Down 1.3 %

NYSE:DTM opened at $102.93 on Friday. The company has a market capitalization of $10.00 billion, a PE ratio of 25.37 and a beta of 0.77. DT Midstream, Inc. has a 52-week low of $51.17 and a 52-week high of $109.85. The stock has a fifty day simple moving average of $93.13 and a 200-day simple moving average of $79.64. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results 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 business 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 period last year, the company earned $0.94 EPS. On average, equities research analysts expect that DT Midstream, Inc. will post 3.85 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business 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 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s payout ratio is 71.53%.

Analyst Ratings Changes

DTM has been the subject of several analyst reports. 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. The Goldman Sachs Group raised their price target on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a report on Tuesday, November 5th. Stifel Nicolaus cut DT Midstream from a “buy” rating to a “hold” rating and increased their price objective for the stock from $78.00 to $89.00 in a research report on Wednesday, October 30th. Morgan Stanley boosted their target price on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Finally, Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and upped their price target for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.78.

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.