UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in DT Midstream, Inc. (NYSE:DTM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of DT Midstream, Inc. (NYSE:DTM) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 241,200 shares of the company’s stock after purchasing an additional 7,956 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in DT Midstream were worth $18,973,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of DTM. FMR LLC increased its holdings in DT Midstream by 1,476.9% in the third quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after purchasing an additional 754,839 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of DT Midstream in the 3rd quarter worth about $39,166,000. Dimensional Fund Advisors LP boosted its stake in DT Midstream by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock valued at $312,070,000 after acquiring an additional 490,613 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in DT Midstream by 30.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after purchasing an additional 267,269 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of DT Midstream by 309.7% in the second quarter. AQR Capital Management LLC now owns 257,101 shares of the company’s stock worth $18,262,000 after buying an additional 194,354 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Up 2.4 %

Shares of NYSE:DTM opened at $104.27 on Friday. The company’s 50-day moving average price is $92.61 and its two-hundred day moving average price is $79.47. The firm has a market cap of $10.13 billion, a P/E ratio of 25.37 and a beta of 0.77. 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, Inc. has a 12 month low of $51.17 and a 12 month high of $109.85.

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 the consensus estimate of $0.95 by ($0.05). The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter last year, the business earned $0.94 earnings per share. As a group, research analysts forecast that DT Midstream, Inc. will post 3.85 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s payout ratio is presently 71.53%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and raised their price objective for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Barclays lifted their price target 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. Stifel Nicolaus cut DT Midstream from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $78.00 to $89.00 in a research note on Wednesday, October 30th. Finally, Morgan Stanley lifted their price target 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $84.78.

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.