First Citizens Bank & Trust Co. Acquires 228 Shares of DT Midstream, Inc. (NYSE:DTM)

First Citizens Bank & Trust Co. increased its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 6.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,532 shares of the company’s stock after purchasing an additional 228 shares during the period. First Citizens Bank & Trust Co.’s holdings in DT Midstream were worth $278,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. grew its holdings in DT Midstream by 324.3% during the third quarter. UMB Bank n.a. now owns 314 shares of the company’s stock worth $25,000 after purchasing an additional 240 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of DT Midstream during the third quarter worth approximately $29,000. Family Firm Inc. bought a new stake in shares of DT Midstream during the second quarter worth approximately $26,000. First Command Advisory Services Inc. bought a new stake in shares of DT Midstream during the second quarter worth approximately $31,000. Finally, American National Bank boosted its holdings in shares of DT Midstream by 100.0% during the second quarter. American National Bank now owns 468 shares of the company’s stock worth $33,000 after acquiring an additional 234 shares during the period. Institutional investors own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

DTM has been the subject of a number of research analyst reports. Citigroup boosted their price objective on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Wells Fargo & Company boosted their price objective on DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Barclays boosted their price target on DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price target on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Finally, Stifel Nicolaus boosted their price target on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $75.29.

DT Midstream Stock Up 1.0 %

Shares of DTM opened at $87.09 on Monday. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $87.45. The company has a market cap of $8.46 billion, a P/E ratio of 21.24 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 firm has a 50 day simple moving average of $78.67 and a two-hundred day simple moving average of $71.73.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 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 the consensus estimate of $236.83 million. During the same period in the previous year, the business earned $0.93 earnings per share. Research analysts forecast that DT Midstream, Inc. will post 3.99 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th were given a dividend of $0.735 per share. The ex-dividend date was Monday, September 16th. This represents a $2.94 annualized dividend and a yield of 3.38%. DT Midstream’s dividend payout ratio is currently 71.71%.

DT Midstream 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.