Fmr LLC Increases Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

FMR LLC grew its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 1,476.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 805,950 shares of the company's stock after acquiring an additional 754,839 shares during the quarter. FMR LLC owned about 0.83% of DT Midstream worth $63,396,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. raised its holdings in shares of DT Midstream by 324.3% during the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company's stock worth $25,000 after buying an additional 240 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of DT Midstream during the 3rd quarter worth $29,000. Family Firm Inc. acquired a new position in shares of DT Midstream during the 2nd quarter worth $26,000. First Command Advisory Services Inc. acquired a new position in shares of DT Midstream during the 2nd quarter worth $31,000. Finally, American National Bank raised its holdings in shares of DT Midstream by 100.0% during the 2nd 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on DT Midstream from $78.00 to $83.00 and gave the stock a "neutral" rating in a report on Friday, October 4th. Citigroup raised DT Midstream from a "neutral" rating to a "buy" rating and lifted their price target for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Stifel Nicolaus downgraded 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 note on Wednesday, October 30th. Barclays raised their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group boosted their target price on shares of DT Midstream from $66.00 to $74.00 and gave the stock a "sell" rating in a report on Tuesday, November 5th. Two investment 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. Based on data from MarketBeat.com, DT Midstream presently has an average rating of "Hold" and a consensus price target of $84.78.

DT Midstream Trading Down 1.3 %

DT Midstream stock traded down $1.34 during mid-day trading on Friday, hitting $102.93. 639,420 shares of the stock were exchanged, compared to its average volume of 1,012,100. DT Midstream, Inc. has a 12 month low of $51.17 and a 12 month high of $109.85. The firm's fifty day simple moving average is $93.64 and its two-hundred day simple moving average is $79.89. The stock has a market capitalization of $10.00 billion, a price-to-earnings ratio of 25.04 and a beta of 0.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The business had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. During the same quarter in the previous year, the business posted $0.94 earnings per share. Analysts forecast that DT Midstream, Inc. will post 3.84 EPS for the current year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $0.735 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 2.86%. 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.