Geode Capital Management LLC Increases Holdings in DT Midstream, Inc. (NYSE:DTM)

Geode Capital Management LLC raised its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 4.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,066,278 shares of the company's stock after purchasing an additional 85,462 shares during the quarter. Geode Capital Management LLC owned 2.13% of DT Midstream worth $162,567,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DTM. Executive Wealth Management LLC grew its stake in shares of DT Midstream by 14.7% during the third quarter. Executive Wealth Management LLC now owns 10,563 shares of the company's stock valued at $831,000 after buying an additional 1,356 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in DT Midstream by 48.8% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 271,067 shares of the company's stock valued at $21,322,000 after acquiring an additional 88,946 shares during the period. Barclays PLC grew its position in DT Midstream by 3.7% in the 3rd quarter. Barclays PLC now owns 283,363 shares of the company's stock valued at $22,289,000 after acquiring an additional 10,074 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in DT Midstream by 12.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 42,629 shares of the company's stock worth $3,353,000 after buying an additional 4,595 shares during the period. Finally, MML Investors Services LLC bought a new stake in shares of DT Midstream during the third quarter valued at approximately $558,000. Institutional investors own 81.53% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on DTM shares. Stifel Nicolaus downgraded DT Midstream from a "buy" rating to a "hold" rating and increased their price target for the stock from $78.00 to $89.00 in a research report on Wednesday, October 30th. Wells Fargo & Company increased their target price on shares of DT Midstream from $87.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Citigroup upgraded shares of DT Midstream from a "neutral" rating to a "buy" rating and boosted their price target for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Barclays upped their price target on shares of DT Midstream from $85.00 to $92.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Finally, The Goldman Sachs Group lifted their price objective on shares of DT Midstream from $66.00 to $74.00 and gave the company 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 issued a buy rating to the stock. According to data from MarketBeat, DT Midstream currently has a consensus rating of "Hold" and a consensus target price of $84.78.

DT Midstream Stock Down 0.6 %

DTM traded down $0.56 during trading on Monday, hitting $99.32. The stock had a trading volume of 696,775 shares, compared to its average volume of 680,375. The stock has a 50 day simple moving average of $95.53 and a two-hundred day simple moving average of $81.28. The company has a market capitalization of $9.65 billion, a PE ratio of 24.48 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. DT Midstream, Inc. has a twelve month low of $51.17 and a twelve month high of $109.85.

DT Midstream (NYSE:DTM - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share 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 business had revenue of $248.00 million for the quarter, compared to analysts' expectations of $242.64 million. During the same quarter last year, the firm earned $0.94 earnings per share. On average, research analysts predict that DT Midstream, Inc. will post 3.84 earnings per share for the current year.

DT Midstream Dividend Announcement

The business also recently declared 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 dividend yield of 2.96%. DT Midstream's dividend payout ratio is currently 71.53%.

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.