Meeder Advisory Services Inc. Decreases Position in DT Midstream, Inc. (NYSE:DTM)

Meeder Advisory Services Inc. lowered its position in DT Midstream, Inc. (NYSE:DTM) by 8.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,945 shares of the company’s stock after selling 429 shares during the period. Meeder Advisory Services Inc.’s holdings in DT Midstream were worth $351,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Family Firm Inc. acquired a new stake in DT Midstream in the 2nd quarter valued at about $26,000. Mather Group LLC. acquired a new stake in shares of DT Midstream in the first quarter valued at approximately $29,000. First Command Advisory Services Inc. purchased a new position in shares of DT Midstream during the 2nd quarter worth approximately $31,000. ICA Group Wealth Management LLC acquired a new position in shares of DT Midstream during the 4th quarter worth approximately $32,000. Finally, American National Bank lifted its stake in DT Midstream by 100.0% in the 2nd quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after buying an additional 234 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

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

DT Midstream Price Performance

DT Midstream stock opened at $76.80 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 18.73 and a beta of 0.74. DT Midstream, Inc. has a 1 year low of $50.88 and a 1 year high of $78.83. The firm has a 50 day moving average price of $74.30 and a 200 day moving average price of $67.79.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The business had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. During the same period in the prior year, the firm posted $0.93 EPS. 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Monday, September 16th. DT Midstream’s dividend payout ratio is currently 71.71%.

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.