International Assets Investment Management LLC Cuts Stock Position in DT Midstream, Inc. (NYSE:DTM)

International Assets Investment Management LLC decreased its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 99.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,549 shares of the company's stock after selling 495,369 shares during the quarter. International Assets Investment Management LLC's holdings in DT Midstream were worth $259,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of DT Midstream by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company's stock valued at $312,070,000 after acquiring an additional 490,613 shares in the last quarter. State Street Corp boosted its holdings in shares of DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company's stock worth $268,757,000 after buying an additional 202,447 shares during the last quarter. Geode Capital Management LLC grew its position in DT Midstream by 4.3% during the third quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company's stock valued at $162,567,000 after buying an additional 85,462 shares during the period. Charles Schwab Investment Management Inc. raised its position 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 worth $90,978,000 after acquiring an additional 267,269 shares during the period. Finally, Brookfield Corp ON grew its position in shares of DT Midstream by 171.3% during the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company's stock valued at $81,689,000 after acquiring an additional 655,695 shares during the period. 81.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Barclays assumed coverage on DT Midstream in a research note on Friday. They issued an "equal weight" rating and a $112.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of DT Midstream from $78.00 to $83.00 and gave the stock a "neutral" rating in a research note on Friday, October 4th. Citigroup upgraded shares of DT Midstream from a "neutral" rating to a "buy" rating and upped their price target for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Wells Fargo & Company boosted their target price on shares of DT Midstream from $87.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Finally, Morgan Stanley lifted their price target on DT Midstream from $82.00 to $92.00 and gave the company an "underweight" rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, DT Midstream has an average rating of "Hold" and a consensus price target of $95.88.

DT Midstream Price Performance

Shares of DTM stock traded up $1.71 on Monday, reaching $105.20. The company's stock had a trading volume of 1,100,965 shares, compared to its average volume of 798,766. The company has a market capitalization of $10.22 billion, a P/E ratio of 25.60 and a beta of 0.77. DT Midstream, Inc. has a 12-month low of $51.17 and a 12-month high of $109.85. The stock's 50 day simple moving average is $101.63 and its 200-day simple moving average is $86.12. 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 released its quarterly 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 net margin of 41.19% and a return on equity of 9.31%. The business had revenue of $248.00 million during the quarter, compared to analysts' expectations of $242.64 million. During the same period in the previous year, the business earned $0.94 EPS. As a group, equities analysts predict that DT Midstream, Inc. will post 3.84 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a dividend of $0.735 per share. The ex-dividend date is Monday, December 16th. This represents a $2.94 annualized dividend and a yield of 2.79%. DT Midstream's payout ratio is presently 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.