State Street Corp Purchases 202,447 Shares of DT Midstream, Inc. (NYSE:DTM)

State Street Corp boosted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,385,579 shares of the company’s stock after acquiring an additional 202,447 shares during the period. State Street Corp owned approximately 3.48% of DT Midstream worth $268,757,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stifel Financial Corp lifted its holdings in shares of DT Midstream by 41.5% during the 3rd quarter. Stifel Financial Corp now owns 65,780 shares of the company’s stock valued at $5,174,000 after purchasing an additional 19,297 shares in the last quarter. Quantinno Capital Management LP bought a new position in DT Midstream in the third quarter valued at approximately $284,000. Recurrent Investment Advisors LLC boosted its holdings in shares of DT Midstream by 9.8% in the third quarter. Recurrent Investment Advisors LLC now owns 327,859 shares of the company’s stock valued at $25,789,000 after buying an additional 29,156 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of DT Midstream during the third quarter worth $8,320,000. Finally, Millburn Ridgefield Corp acquired a new stake in shares of DT Midstream during the third quarter worth $148,000. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Stock Down 0.3 %

DT Midstream stock opened at $98.32 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50-day moving average is $94.43 and its 200-day moving average is $80.54. The firm has a market capitalization of $9.55 billion, a PE ratio of 23.92 and a beta of 0.77. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $109.85.

DT Midstream (NYSE:DTM) last released 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 business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. During the same quarter in the prior year, the company earned $0.94 EPS. Sell-side analysts anticipate that DT Midstream, Inc. will post 3.84 earnings per share for the current year.

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 2.99%. DT Midstream’s dividend payout ratio (DPR) is 71.53%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DTM shares. JPMorgan Chase & Co. increased their target price on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Barclays increased their price objective on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. The Goldman Sachs Group upped their price target on DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. Morgan Stanley lifted their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company boosted their price objective on shares of 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 given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $84.78.

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.