Panagora Asset Management Inc. Trims Stake in DT Midstream, Inc. (NYSE:DTM)

Panagora Asset Management Inc. lessened its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 7.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,616 shares of the company's stock after selling 3,887 shares during the quarter. Panagora Asset Management Inc. owned about 0.05% of DT Midstream worth $3,453,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. First Trust Advisors LP lifted its stake in 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 purchasing an additional 1,128,056 shares during the last quarter. Norges Bank bought a new stake in DT Midstream during the 4th quarter worth $61,638,000. Dimensional Fund Advisors LP increased its holdings in DT Midstream by 8.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company's stock worth $186,407,000 after purchasing an additional 266,433 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of DT Midstream by 14.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 809,126 shares of the company's stock valued at $49,438,000 after purchasing an additional 99,755 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of DT Midstream by 1,223.2% during the first quarter. Cetera Investment Advisers now owns 54,107 shares of the company's stock worth $3,306,000 after purchasing an additional 50,018 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Stock Up 0.8 %

NYSE:DTM traded up $0.62 on Friday, hitting $78.59. The stock had a trading volume of 825,946 shares, compared to its average volume of 654,713. DT Midstream, Inc. has a 1 year low of $50.54 and a 1 year high of $78.83. The firm's fifty day simple moving average is $73.16 and its two-hundred day simple moving average is $66.17. 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 stock has a market cap of $7.63 billion, a P/E ratio of 19.17 and a beta of 0.74.

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

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Monday, September 16th. DT Midstream's payout ratio is 71.71%.

Analyst Ratings Changes

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

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.