DT Midstream, Inc. (NYSE:DTM) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 29.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 244,443 shares of the company's stock after selling 103,403 shares during the period. 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 (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DTM. UMB Bank n.a. lifted its stake in DT Midstream by 324.3% during 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 purchased a new stake in DT Midstream in the third quarter valued at $29,000. Wilmington Savings Fund Society FSB acquired a new stake in DT Midstream during the 3rd quarter worth about $29,000. Brooklyn Investment Group purchased a new position in shares of DT Midstream during the 3rd quarter valued at about $40,000. Finally, Rothschild Investment LLC acquired a new position in shares of DT Midstream in the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Price Performance

DTM stock traded down $0.56 during trading on Friday, hitting $99.99. The stock had a trading volume of 425,051 shares, compared to its average volume of 701,620. The company's 50-day moving average price is $98.46 and its two-hundred day moving average price is $83.33. DT Midstream, Inc. has a twelve month low of $51.17 and a twelve month high of $109.85. The stock has a market capitalization of $9.71 billion, a P/E ratio of 24.33 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.05). The firm had revenue of $248.00 million for the quarter, compared to analysts' expectations of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter in the previous year, the firm posted $0.94 earnings per share. As a group, research analysts predict that DT Midstream, Inc. will post 3.84 EPS for the current fiscal year.

DT Midstream Dividend Announcement

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 2.94%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream's dividend payout ratio (DPR) is 71.53%.

Wall Street Analysts Forecast Growth

DTM has been the topic of several analyst reports. Morgan Stanley raised their target price on DT Midstream from $82.00 to $92.00 and gave the stock an "underweight" rating in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on shares of DT Midstream from $78.00 to $83.00 and gave the company a "neutral" rating in a report on Friday, October 4th. Wells Fargo & Company boosted their target price on shares of DT Midstream from $87.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Barclays lifted their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Finally, Citigroup raised shares of DT Midstream from a "neutral" rating to a "buy" rating and increased their target price for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, DT Midstream presently has an average rating of "Hold" and a consensus price target of $88.89.

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.