Jennison Associates LLC Raises Stock Position in DT Midstream, Inc. (NYSE:DTM)

Jennison Associates LLC increased its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 0.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 219,065 shares of the company’s stock after purchasing an additional 271 shares during the period. Jennison Associates LLC owned 0.23% of DT Midstream worth $17,232,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Commerce Bank boosted its position in shares of DT Midstream by 10.7% in the third quarter. Commerce Bank now owns 19,911 shares of the company’s stock worth $1,566,000 after buying an additional 1,932 shares during the period. Caprock Group LLC lifted its position in DT Midstream by 3.7% during the 3rd quarter. Caprock Group LLC now owns 4,058 shares of the company’s stock worth $322,000 after acquiring an additional 143 shares in the last quarter. Pathstone Holdings LLC boosted its holdings in DT Midstream by 3.3% in the 3rd quarter. Pathstone Holdings LLC now owns 20,679 shares of the company’s stock worth $1,633,000 after acquiring an additional 668 shares during the period. Natixis Advisors LLC grew its position in DT Midstream by 10.6% in the third quarter. Natixis Advisors LLC now owns 24,568 shares of the company’s stock valued at $1,933,000 after acquiring an additional 2,356 shares in the last quarter. Finally, Metis Global Partners LLC raised its stake in shares of DT Midstream by 33.5% during the third quarter. Metis Global Partners LLC now owns 5,395 shares of the company’s stock valued at $424,000 after purchasing an additional 1,354 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DTM has been the subject of several analyst reports. Morgan Stanley upped their target price on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Stifel Nicolaus cut shares of DT Midstream from a “buy” rating to a “hold” rating and upped their price objective for the company from $78.00 to $89.00 in a research report on Wednesday, October 30th. Barclays lifted their target price on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. increased their price target on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Finally, The Goldman Sachs Group lifted their price objective on DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $84.78.

DT Midstream Trading Up 0.1 %

Shares of NYSE DTM opened at $108.56 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average price is $88.36 and its two-hundred day moving average price is $77.20. DT Midstream, Inc. has a 52-week low of $51.17 and a 52-week high of $109.85. The stock has a market capitalization of $10.55 billion, a P/E ratio of 26.41 and a beta of 0.71.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results 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 firm had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same period in the prior year, the company posted $0.94 earnings per share. On average, analysts anticipate that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a $0.735 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.71%. DT Midstream’s payout ratio is currently 71.53%.

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.