JPMorgan Chase & Co. Sells 528,874 Shares of DT Midstream, Inc. (NYSE:DTM)

JPMorgan Chase & Co. reduced its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 28.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,299,848 shares of the company’s stock after selling 528,874 shares during the quarter. JPMorgan Chase & Co.’s holdings in DT Midstream were worth $102,246,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of DTM. UMB Bank n.a. lifted its position 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 3rd quarter worth approximately $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of DT Midstream during the 3rd quarter worth approximately $29,000. Brooklyn Investment Group acquired a new stake in shares of DT Midstream during the 3rd quarter worth approximately $40,000. Finally, Rothschild Investment LLC bought a new position in DT Midstream in the second quarter valued at approximately $48,000. Institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on DTM shares. JPMorgan Chase & Co. lifted their target price on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Barclays upped their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. The Goldman Sachs Group raised their target price on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 19th. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. Finally, Stifel Nicolaus upgraded DT Midstream from a “hold” rating to a “buy” rating and increased their price target for the company from $89.00 to $106.00 in a research note on Thursday, December 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $88.89.

DT Midstream Stock Performance

NYSE DTM opened at $99.43 on Thursday. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of 24.19 and a beta of 0.77. DT Midstream, Inc. has a twelve month low of $51.17 and a twelve month high of $109.85. The stock has a fifty day simple moving average of $98.97 and a 200 day simple moving average of $83.97. 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 issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. During the same quarter last year, the business earned $0.94 earnings per share. Sell-side analysts expect that DT Midstream, Inc. will post 3.84 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s dividend payout ratio is currently 71.53%.

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.