LSV Asset Management Decreases Holdings in DT Midstream, Inc. (NYSE:DTM)

LSV Asset Management lessened its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 10.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 151,702 shares of the company’s stock after selling 16,880 shares during the quarter. LSV Asset Management’s holdings in DT Midstream were worth $10,775,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. First Trust Advisors LP boosted its position in DT Midstream by 284.6% during the fourth quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock worth $83,537,000 after purchasing an additional 1,128,056 shares during the period. Norges Bank bought a new position in DT Midstream during the fourth quarter worth about $61,638,000. Dimensional Fund Advisors LP boosted its position in DT Midstream by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock worth $186,407,000 after purchasing an additional 266,433 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in DT Midstream by 14.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 809,126 shares of the company’s stock worth $49,438,000 after purchasing an additional 99,755 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in DT Midstream during the second quarter worth about $6,309,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DTM shares. JPMorgan Chase & Co. increased their target price on shares of DT Midstream from $75.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Barclays raised their price objective on shares of DT Midstream from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Stifel Nicolaus raised their price objective on shares of DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Citigroup raised their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company raised their price objective on shares of DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, DT Midstream presently has a consensus rating of “Hold” and an average target price of $70.75.

DT Midstream Trading Down 0.4 %

Shares of DT Midstream stock opened at $74.49 on Thursday. DT Midstream, Inc. has a 1 year low of $50.88 and a 1 year high of $78.83. The firm has a market cap of $7.23 billion, a PE ratio of 18.17 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. The company has a 50 day simple moving average of $74.05 and a two-hundred day simple moving average of $67.44.

DT Midstream (NYSE:DTM) last announced its earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The business had revenue of $244.00 million during the quarter, compared to analyst estimates of $236.83 million. During the same period in the previous year, the business posted $0.93 earnings per share. Analysts expect that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Monday, September 16th. DT Midstream’s dividend payout ratio (DPR) is presently 71.71%.

About DT Midstream

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.