State Street Corp Has $268.76 Million Stake in DT Midstream, Inc. (NYSE:DTM)

State Street Corp increased its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 6.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,385,579 shares of the company's stock after purchasing an additional 202,447 shares during the period. State Street Corp owned 3.48% of DT Midstream worth $268,757,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DTM. UMB Bank n.a. raised its position in shares of 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 in the last quarter. V Square Quantitative Management LLC bought a new position in shares of DT Midstream in the 3rd quarter worth about $29,000. Family Firm Inc. acquired a new position in shares of DT Midstream in the 2nd quarter valued at about $26,000. First Command Advisory Services Inc. bought a new stake in shares of DT Midstream during the 2nd quarter valued at about $31,000. Finally, American National Bank raised its stake in DT Midstream by 100.0% during the second quarter. American National Bank now owns 468 shares of the company's stock worth $33,000 after acquiring an additional 234 shares during the period. 81.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DTM has been the subject of a number of research reports. Citigroup upgraded DT Midstream from a "neutral" rating to a "buy" rating and lifted their target price for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. The Goldman Sachs Group lifted their target price on DT Midstream from $66.00 to $74.00 and gave the company a "sell" rating in a research note on Tuesday, November 5th. Stifel Nicolaus lowered DT Midstream from a "buy" rating to a "hold" rating and raised their price target for the company from $78.00 to $89.00 in a report on Wednesday, October 30th. Barclays raised their target price on shares of DT Midstream from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company increased their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $84.78.

DT Midstream Price Performance

DTM stock traded up $3.27 on Wednesday, hitting $101.50. 909,113 shares of the company's stock traded hands, compared to its average volume of 679,127. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market cap of $9.86 billion, a price-to-earnings ratio of 23.92 and a beta of 0.77. DT Midstream, Inc. has a 1-year low of $51.17 and a 1-year high of $109.85. The stock has a fifty day moving average of $94.43 and a 200-day moving average of $80.54.

DT Midstream (NYSE:DTM - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The company had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same quarter in the previous year, the firm earned $0.94 earnings per share. On average, analysts forecast that DT Midstream, Inc. will post 3.84 EPS for the current fiscal 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 dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.90%. DT Midstream's dividend payout ratio is currently 71.53%.

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.