Principal Financial Group Inc. Sells 103,403 Shares of DT Midstream, Inc. (NYSE:DTM)

Principal Financial Group Inc. lowered its position in DT Midstream, Inc. (NYSE:DTM) by 29.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 244,443 shares of the company’s stock after selling 103,403 shares during the quarter. Principal Financial Group Inc.’s holdings in DT Midstream were worth $19,228,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of DT Midstream in the third quarter worth $39,166,000. Dimensional Fund Advisors LP boosted its holdings in shares of DT Midstream by 12.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock valued at $312,070,000 after purchasing an additional 490,613 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of DT Midstream by 309.7% during the 2nd quarter. AQR Capital Management LLC now owns 257,101 shares of the company’s stock valued at $18,262,000 after purchasing an additional 194,354 shares during the last quarter. Duff & Phelps Investment Management Co. grew its position in shares of DT Midstream by 2,658.2% during the second quarter. Duff & Phelps Investment Management Co. now owns 182,121 shares of the company’s stock valued at $12,936,000 after purchasing an additional 175,518 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of DT Midstream in the second quarter worth about $6,309,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on DTM shares. The Goldman Sachs Group raised their price target on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a report on Tuesday, November 5th. Wells Fargo & Company raised their target price on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Citigroup upped their price target 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. Morgan Stanley lifted their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Finally, Barclays boosted their target price on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, DT Midstream presently has an average rating of “Hold” and a consensus target price of $80.44.

DT Midstream Price Performance

DTM stock opened at $99.51 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a 12 month low of $51.17 and a 12 month high of $100.97. The stock has a market cap of $9.67 billion, a PE ratio of 24.21 and a beta of 0.71. The company has a 50-day moving average price of $84.88 and a 200 day moving average price of $75.47.

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

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a $0.735 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 2.95%. DT Midstream’s payout ratio is 71.53%.

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.