DT Midstream, Inc. (NYSE:DTM) Shares Bought by Fmr LLC

Fmr LLC increased its position in DT Midstream, Inc. (NYSE:DTM) by 1,476.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 805,950 shares of the company’s stock after acquiring an additional 754,839 shares during the period. Fmr LLC’s holdings in DT Midstream were worth $63,396,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Hancock Whitney Corp acquired a new position in DT Midstream in the 3rd quarter valued at $585,000. Brown Brothers Harriman & Co. acquired a new position in DT Midstream in the third quarter valued at $564,000. Cerity Partners LLC lifted its position in DT Midstream by 29.2% during the third quarter. Cerity Partners LLC now owns 13,996 shares of the company’s stock worth $1,101,000 after buying an additional 3,161 shares during the period. Icon Wealth Advisors LLC boosted its stake in DT Midstream by 3,834.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 101,196 shares of the company’s stock worth $7,960,000 after buying an additional 98,624 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings 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 valued at $90,978,000 after buying an additional 267,269 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Down 1.3 %

Shares of DTM opened at $102.93 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream, Inc. has a 12 month low of $51.17 and a 12 month high of $109.85. The stock has a market cap of $10.00 billion, a PE ratio of 25.37 and a beta of 0.77. The stock’s 50-day moving average is $93.13 and its two-hundred day moving average is $79.64.

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). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same period last year, the business earned $0.94 EPS. Equities analysts forecast that DT Midstream, Inc. will post 3.85 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued 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 2.86%. DT Midstream’s dividend payout ratio is currently 71.53%.

Analysts Set New Price Targets

DTM has been the topic of several recent analyst reports. The Goldman Sachs Group increased their price objective on shares of DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. Wells Fargo & Company lifted their price target 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. Stifel Nicolaus downgraded DT Midstream from a “buy” rating to a “hold” rating and upped their price objective for the stock from $78.00 to $89.00 in a report on Wednesday, October 30th. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and lifted their target price for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Finally, Barclays boosted their price target on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Two 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $84.78.

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.