Shilanski & Associates Inc. Reduces Holdings in DT Midstream, Inc. (NYSE:DTM)

Shilanski & Associates Inc. cut its holdings in DT Midstream, Inc. (NYSE:DTM) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,583 shares of the company’s stock after selling 426 shares during the period. Shilanski & Associates Inc.’s holdings in DT Midstream were worth $2,556,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of DT Midstream by 1,476.9% in the 3rd 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. Brookfield Corp ON boosted its stake in DT Midstream by 171.3% during the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after buying an additional 655,695 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of DT Midstream during the third quarter valued at about $39,166,000. Charles Schwab Investment Management Inc. raised its stake in shares of 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 acquiring an additional 267,269 shares during the period. Finally, State Street Corp lifted its holdings in shares of DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after acquiring an additional 202,447 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Up 0.3 %

Shares of NYSE DTM opened at $111.57 on Friday. The business has a 50-day moving average of $103.83 and a two-hundred day moving average of $88.19. The company has a market capitalization of $10.84 billion, a price-to-earnings ratio of 27.15 and a beta of 0.79. DT Midstream, Inc. has a 1 year low of $51.17 and a 1 year high of $114.50. 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 (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 company had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same quarter in the prior year, the company earned $0.94 EPS. On average, analysts forecast that DT Midstream, Inc. will post 3.84 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were issued a $0.735 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.64%. DT Midstream’s payout ratio is 71.53%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Wells Fargo & Company boosted their price objective on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Morgan Stanley lifted their target price on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Citigroup raised 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 note on Thursday, November 21st. Finally, The Goldman Sachs Group increased their target price on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, DT Midstream presently has an average rating of “Hold” and a consensus target price of $95.88.

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.