Principal Financial Group Inc. Has $19.23 Million Holdings in DT Midstream, Inc. (NYSE:DTM)

Principal Financial Group Inc. trimmed its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 29.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 244,443 shares of the company's stock after selling 103,403 shares during the quarter. Principal Financial Group Inc. owned 0.25% of DT Midstream worth $19,228,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake 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 during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of DT Midstream by 1.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company's stock valued at $144,398,000 after acquiring an additional 37,463 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of DT Midstream by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company's stock valued at $82,870,000 after acquiring an additional 38,305 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in shares of DT Midstream by 6.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company's stock valued at $72,737,000 after acquiring an additional 60,370 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of DT Midstream in the third quarter valued at approximately $39,166,000. 81.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DTM. Citigroup boosted their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 4th. Wells Fargo & Company boosted their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted 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. Barclays boosted their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Finally, The Goldman Sachs Group boosted their price objective on shares of DT Midstream from $66.00 to $74.00 and gave the stock a "sell" rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $80.44.

DT Midstream Trading Up 1.3 %

DTM traded up $1.28 during trading on Friday, reaching $100.79. 754,306 shares of the company's stock were exchanged, compared to its average volume of 647,909. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $100.97. The firm has a market capitalization of $9.79 billion, a PE ratio of 24.52 and a beta of 0.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The company's fifty day moving average price is $85.39 and its 200-day moving average price is $75.73.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) 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 firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same period last year, the firm earned $0.94 EPS. As a group, equities analysts forecast that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream's dividend payout ratio (DPR) is 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.