Bank of New York Mellon Corp Has $82.87 Million Holdings in DT Midstream, Inc. (NYSE:DTM)

Bank of New York Mellon Corp lifted its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,166,694 shares of the company's stock after buying an additional 38,305 shares during the quarter. Bank of New York Mellon Corp owned about 1.20% of DT Midstream worth $82,870,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in DT Midstream by 8.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company's stock worth $186,407,000 after buying an additional 266,433 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of DT Midstream by 1.6% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company's stock worth $144,398,000 after acquiring an additional 37,463 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of DT Midstream by 284.6% in the 4th quarter. First Trust Advisors LP now owns 1,524,401 shares of the company's stock valued at $83,537,000 after acquiring an additional 1,128,056 shares during the period. Norges Bank purchased a new stake in DT Midstream in the 4th quarter valued at $61,638,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in DT Midstream by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 841,896 shares of the company's stock worth $46,136,000 after purchasing an additional 44,482 shares during the period. Hedge funds and other institutional investors own 81.53% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on DTM shares. Wells Fargo & Company upped their price objective on DT Midstream from $77.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. Stifel Nicolaus upped their price target on DT Midstream from $70.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Barclays lifted their price objective on shares of DT Midstream from $66.00 to $72.00 and gave the company an "overweight" rating in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of DT Midstream from $75.00 to $78.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $70.00.

DT Midstream Price Performance

NYSE DTM traded up $1.52 during trading hours on Thursday, reaching $78.00. The company's stock had a trading volume of 840,831 shares, compared to its average volume of 653,688. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.84. The company's 50-day moving average is $72.98 and its two-hundred day moving average is $65.99. DT Midstream, Inc. has a fifty-two week low of $50.54 and a fifty-two week high of $78.05. The stock has a market cap of $7.57 billion, a PE ratio of 19.02 and a beta of 0.74.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.06. The firm had revenue of $244.00 million for the quarter, compared to analyst estimates of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same quarter in the prior year, the company earned $0.93 EPS. Analysts forecast that DT Midstream, Inc. will post 3.9 EPS for the current year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Monday, September 16th. DT Midstream's payout ratio is 71.71%.

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.