Kovitz Investment Group Partners LLC Cuts Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Kovitz Investment Group Partners LLC decreased its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 74.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,358 shares of the company's stock after selling 12,581 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in DT Midstream were worth $343,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atria Investments Inc acquired a new position in DT Midstream in the 3rd quarter valued at approximately $666,000. Bridgewater Associates LP grew its stake in shares of DT Midstream by 57.6% in the third quarter. Bridgewater Associates LP now owns 185,306 shares of the company's stock worth $14,576,000 after purchasing an additional 67,725 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in DT Midstream by 15.3% in the second quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company's stock valued at $8,657,000 after purchasing an additional 16,171 shares during the period. Charles Schwab Investment Management Inc. raised its position in DT Midstream by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company's stock worth $90,978,000 after purchasing an additional 267,269 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in DT Midstream by 151.8% during the 3rd quarter. Victory Capital Management Inc. now owns 113,374 shares of the company's stock worth $8,918,000 after buying an additional 68,350 shares during the period. Institutional investors own 81.53% of the company's stock.

DT Midstream Stock Down 1.0 %

NYSE DTM traded down $1.02 on Friday, hitting $100.62. 719,964 shares of the company were exchanged, compared to its average volume of 680,307. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a market cap of $9.78 billion, a PE ratio of 24.49 and a beta of 0.77. The stock has a fifty day moving average of $95.53 and a 200-day moving average of $81.07. DT Midstream, Inc. has a 12 month low of $51.17 and a 12 month high of $109.85.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) 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 company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. During the same period last year, the company earned $0.94 EPS. As a group, analysts forecast that DT Midstream, Inc. will post 3.84 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Monday, December 16th. DT Midstream's payout ratio is 71.53%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DTM. 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 research note on Friday, October 4th. 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 research report on Thursday, November 21st. Wells Fargo & Company raised their price target 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. The Goldman Sachs Group upped their price objective on shares of DT Midstream from $66.00 to $74.00 and gave the company a "sell" rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus downgraded shares of DT Midstream from a "buy" rating to a "hold" rating and lifted their target price for the stock from $78.00 to $89.00 in a research note on Wednesday, October 30th. Two equities 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $84.78.

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.