Charles Schwab Investment Management Inc. Has $90.98 Million Stock Position in DT Midstream, Inc. (NYSE:DTM)

Charles Schwab Investment Management Inc. lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 30.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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. owned approximately 1.19% of DT Midstream worth $90,978,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DTM. Dimensional Fund Advisors LP increased its holdings in DT Midstream by 12.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock worth $312,070,000 after purchasing an additional 490,613 shares in the last quarter. Bank of New York Mellon Corp grew its holdings 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 worth $82,870,000 after buying an additional 38,305 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its position in DT Midstream by 6.3% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock valued at $72,737,000 after buying an additional 60,370 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in DT Midstream in the 3rd quarter valued at $39,166,000. Finally, Chickasaw Capital Management LLC boosted its holdings in DT Midstream by 24.5% during 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. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on DTM. Barclays increased their target price on shares of DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and increased their price objective for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. JPMorgan Chase & Co. boosted their target price on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. The Goldman Sachs Group increased their price target on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their price objective on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $84.78.

DT Midstream Trading Up 1.0 %

Shares of DTM opened at $106.75 on Wednesday. The firm has a market cap of $10.37 billion, a P/E ratio of 25.97 and a beta of 0.71. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $109.85. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The business has a 50-day moving average of $88.93 and a 200 day moving average of $77.67.

DT Midstream (NYSE:DTM) last posted its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The business had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $242.64 million. During the same quarter in the previous year, the business earned $0.94 EPS. As a group, research analysts forecast that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

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.