Franklin Resources Inc. Trims Holdings in DT Midstream, Inc. (NYSE:DTM)

Franklin Resources Inc. reduced its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 9.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,136,196 shares of the company's stock after selling 114,351 shares during the quarter. Franklin Resources Inc. owned approximately 1.17% of DT Midstream worth $98,111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of DTM. Wellington Management Group LLP raised its stake in shares of DT Midstream by 225.4% during the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company's stock worth $11,449,000 after purchasing an additional 100,825 shares during the period. Atria Investments Inc purchased a new stake in DT Midstream during the third quarter worth about $666,000. Bridgewater Associates LP increased its holdings in DT Midstream by 57.6% during the third quarter. Bridgewater Associates LP now owns 185,306 shares of the company's stock worth $14,576,000 after buying an additional 67,725 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake 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 acquiring an additional 16,171 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in DT Midstream by 30.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company's stock valued at $90,978,000 after acquiring an additional 267,269 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Trading Down 0.6 %

NYSE DTM traded down $0.56 during trading on Monday, hitting $99.32. 696,775 shares of the company's stock traded hands, compared to its average volume of 680,375. The stock has a fifty day moving average of $95.53 and a two-hundred day moving average of $81.28. DT Midstream, Inc. has a 12-month low of $51.17 and a 12-month high of $109.85. The firm has a market cap of $9.65 billion, a P/E ratio of 24.48 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter in the previous year, the firm posted $0.94 EPS. As a group, sell-side analysts expect that DT Midstream, Inc. will post 3.84 EPS for the current year.

DT Midstream Dividend Announcement

The company 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 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 dividend yield of 2.96%. DT Midstream's dividend payout ratio (DPR) is 71.53%.

Analyst Ratings Changes

A number of research firms recently commented on DTM. Morgan Stanley lifted their price target on shares of DT Midstream from $82.00 to $92.00 and gave the stock an "underweight" rating in a report on Friday, October 25th. The Goldman Sachs Group boosted their target price on DT Midstream from $66.00 to $74.00 and gave the company a "sell" rating in a research note on Tuesday, November 5th. Wells Fargo & Company increased their price target on DT Midstream from $87.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. 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. Finally, JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $78.00 to $83.00 and gave the company a "neutral" rating in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $84.78.

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.