Charles Schwab Investment Management Inc. Acquires 267,269 Shares of DT Midstream, Inc. (NYSE:DTM)

Charles Schwab Investment Management Inc. increased its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 30.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,156,598 shares of the company's stock after purchasing an additional 267,269 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.19% of DT Midstream worth $90,978,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DTM. UMB Bank n.a. grew its position in DT Midstream by 324.3% in the third quarter. UMB Bank n.a. now owns 314 shares of the company's stock worth $25,000 after acquiring an additional 240 shares in the last quarter. Family Firm Inc. purchased a new position in shares of DT Midstream in the 2nd quarter worth about $26,000. V Square Quantitative Management LLC purchased a new position in shares of DT Midstream during the 3rd quarter valued at about $29,000. First Command Advisory Services Inc. purchased a new position in shares of DT Midstream during the 2nd quarter valued at about $31,000. Finally, American National Bank boosted its stake in DT Midstream by 100.0% in the second quarter. American National Bank now owns 468 shares of the company's stock worth $33,000 after buying an additional 234 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Citigroup raised shares of DT Midstream from a "neutral" rating to a "buy" rating and increased their target price for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Stifel Nicolaus downgraded DT Midstream from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $78.00 to $89.00 in a report on Wednesday, October 30th. The Goldman Sachs Group lifted their price target on DT Midstream from $66.00 to $74.00 and gave the stock a "sell" rating in a research note on Tuesday, November 5th. Barclays lifted their target price on shares of DT Midstream from $85.00 to $92.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Finally, Morgan Stanley increased their price target on shares of DT Midstream from $82.00 to $92.00 and gave the company an "underweight" rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $84.78.

DT Midstream Stock Down 0.8 %

Shares of DTM stock traded down $0.84 during trading hours on Wednesday, hitting $105.91. 59,666 shares of the company's stock traded hands, compared to its average volume of 670,669. DT Midstream, Inc. has a 12-month low of $51.17 and a 12-month high of $109.85. 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 has a market cap of $10.29 billion, a price-to-earnings ratio of 25.97 and a beta of 0.71. The stock's fifty day simple moving average is $88.93 and its two-hundred day simple moving average is $77.67.

DT Midstream (NYSE:DTM - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The company had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. During the same period last year, the firm posted $0.94 earnings per share. On average, analysts expect that DT Midstream, Inc. will post 3.96 EPS for the current 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 paid 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 2.78%. DT Midstream's dividend payout ratio is currently 71.53%.

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.