DT Midstream, Inc. (NYSE:DTM) Stake Boosted by Jennison Associates LLC

Jennison Associates LLC raised its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 232,217 shares of the company’s stock after purchasing an additional 13,152 shares during the period. Jennison Associates LLC owned about 0.24% of DT Midstream worth $23,089,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of DTM. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of DT Midstream by 17.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock valued at $69,000 after buying an additional 105 shares during the period. Caprock Group LLC boosted its stake in DT Midstream by 3.7% in the third quarter. Caprock Group LLC now owns 4,058 shares of the company’s stock valued at $322,000 after acquiring an additional 143 shares during the period. AdvisorNet Financial Inc grew its holdings in shares of DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after purchasing an additional 160 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of DT Midstream by 93.7% during the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after purchasing an additional 163 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of DT Midstream by 53.2% in the 4th quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after purchasing an additional 167 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on DTM shares. The Goldman Sachs Group upped their price objective on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Morgan Stanley increased their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Raymond James upped their target price on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Barclays assumed coverage on DT Midstream in a report on Friday, January 10th. They set an “equal weight” rating and a $112.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $101.56.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $103.25 on Thursday. The stock has a market cap of $10.03 billion, a price-to-earnings ratio of 25.12 and a beta of 0.79. 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 $114.50. The stock’s 50 day moving average price is $103.34 and its 200 day moving average price is $90.26.

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.