JPMorgan Chase & Co. Reduces Holdings in DT Midstream, Inc. (NYSE:DTM)

JPMorgan Chase & Co. cut its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 28.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,299,848 shares of the company's stock after selling 528,874 shares during the quarter. JPMorgan Chase & Co. owned about 1.34% of DT Midstream worth $102,246,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DTM. UMB Bank n.a. increased its position in shares of DT Midstream by 324.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company's stock valued at $25,000 after acquiring an additional 240 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of DT Midstream in the third quarter valued at about $29,000. Wilmington Savings Fund Society FSB acquired a new position in shares of DT Midstream in the third quarter valued at about $29,000. Brooklyn Investment Group acquired a new stake in shares of DT Midstream during the third quarter worth about $40,000. Finally, Rothschild Investment LLC acquired a new stake in shares of DT Midstream during the second quarter worth about $48,000. Institutional investors and hedge funds own 81.53% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised their price target on shares of DT Midstream from $74.00 to $94.00 and gave the stock a "sell" rating in a research report on Thursday, December 19th. Wells Fargo & Company raised 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 raised 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 report on Thursday, November 21st. JPMorgan Chase & Co. boosted their target price 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. Finally, Morgan Stanley raised their price target on shares of DT Midstream from $82.00 to $92.00 and gave the company an "underweight" rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $88.89.

DT Midstream Price Performance

Shares of NYSE DTM traded up $2.32 during trading on Thursday, hitting $101.75. The company had a trading volume of 699,887 shares, compared to its average volume of 699,900. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $109.85. The stock has a fifty day simple moving average of $99.22 and a two-hundred day simple moving average of $84.07. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of 24.76 and a beta of 0.77.

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 (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 firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same period in the prior year, the firm earned $0.94 earnings per share. On average, research analysts expect that DT Midstream, Inc. will post 3.84 earnings per share for the current year.

DT Midstream Announces Dividend

The firm 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 $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream's dividend payout ratio (DPR) is 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.