DT Midstream, Inc. (NYSE:DTM) Shares Sold by Krane Funds Advisors LLC

Krane Funds Advisors LLC lowered its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 93.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 489 shares of the company's stock after selling 6,631 shares during the period. Krane Funds Advisors LLC's holdings in DT Midstream were worth $38,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Bleakley Financial Group LLC grew its position in DT Midstream by 11.6% during the third quarter. Bleakley Financial Group LLC now owns 3,699 shares of the company's stock valued at $291,000 after buying an additional 385 shares during the period. Kapitalo Investimentos Ltda boosted its stake in shares of DT Midstream by 95.6% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 6,145 shares of the company's stock worth $483,000 after acquiring an additional 3,003 shares in the last quarter. Creative Planning grew its position in shares of DT Midstream by 8.1% during the 3rd quarter. Creative Planning now owns 41,800 shares of the company's stock valued at $3,288,000 after acquiring an additional 3,145 shares during the period. Burns Matteson Capital Management LLC purchased a new position in shares of DT Midstream in the 3rd quarter valued at about $231,000. Finally, Chickasaw Capital Management LLC raised its holdings in DT Midstream by 24.5% in the 3rd quarter. Chickasaw Capital Management LLC now owns 302,600 shares of the company's stock worth $23,803,000 after purchasing an additional 59,540 shares during the period. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Price Performance

DTM stock traded up $0.80 during mid-day trading on Friday, reaching $87.06. The company's stock had a trading volume of 481,142 shares, compared to its average volume of 638,716. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The company's 50 day moving average is $78.67 and its two-hundred day moving average is $71.62. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $87.45. The stock has a market cap of $8.45 billion, a PE ratio of 21.23 and a beta of 0.74.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. The firm had revenue of $244.00 million during the quarter, compared to analysts' expectations 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 last year, the firm earned $0.93 earnings per share. Equities research analysts expect that DT Midstream, Inc. will post 3.99 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th were given a dividend of $0.735 per share. The ex-dividend date was Monday, September 16th. This represents a $2.94 annualized dividend and a dividend yield of 3.38%. DT Midstream's payout ratio is 71.71%.

Analyst Upgrades and Downgrades

Several brokerages have commented on DTM. Barclays raised their price objective on DT Midstream from $76.00 to $85.00 and gave the company an "overweight" rating in a report on Thursday, October 3rd. Wells Fargo & Company lifted their price target on shares of DT Midstream from $77.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the stock a "neutral" rating in a research report on Friday, October 4th. Citigroup lifted their target price on shares of DT Midstream from $62.00 to $76.00 and gave the company a "neutral" rating in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus upped their price target on shares of DT Midstream from $70.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $73.00.

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.