DT Midstream, Inc. (NYSE:DTM) Shares Sold by Weiss Asset Management LP

Weiss Asset Management LP lessened its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 98.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,237 shares of the company's stock after selling 287,501 shares during the period. Weiss Asset Management LP's holdings in DT Midstream were worth $255,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DTM. Dimensional Fund Advisors LP grew its stake in shares of DT Midstream by 12.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company's stock worth $312,070,000 after purchasing an additional 490,613 shares during the period. State Street Corp grew its position in DT Midstream by 6.4% during the third quarter. State Street Corp now owns 3,385,579 shares of the company's stock worth $268,757,000 after buying an additional 202,447 shares during the period. Bank of New York Mellon Corp increased its holdings in 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 buying an additional 38,305 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of DT Midstream by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company's stock valued at $90,978,000 after acquiring an additional 267,269 shares during the period. Finally, Tortoise Capital Advisors L.L.C. boosted its stake in shares of DT Midstream by 6.3% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company's stock worth $72,737,000 after acquiring an additional 60,370 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Trading Down 0.4 %

DT Midstream stock traded down $0.42 during midday trading on Tuesday, reaching $98.23. The stock had a trading volume of 699,396 shares, compared to its average volume of 678,161. The stock's 50-day simple moving average is $94.04 and its 200 day simple moving average is $80.31. The stock has a market capitalization of $9.54 billion, a PE ratio of 23.99 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. DT Midstream, Inc. has a twelve month low of $51.17 and a twelve month high of $109.85.

DT Midstream (NYSE:DTM - Get Free Report) last posted 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). The business had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same period last year, the company posted $0.94 EPS. Analysts expect that DT Midstream, Inc. will post 3.84 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a dividend of $0.735 per share. The ex-dividend date is Monday, December 16th. This represents a $2.94 annualized dividend and a dividend yield of 2.99%. DT Midstream's payout ratio is 71.53%.

Analysts Set New Price Targets

DTM has been the subject of several research analyst reports. Stifel Nicolaus downgraded DT Midstream from a "buy" rating to a "hold" rating and raised their price objective for the company from $78.00 to $89.00 in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price target on DT Midstream from $87.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Barclays increased their price objective 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. The Goldman Sachs Group lifted their target price 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. Finally, JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $78.00 to $83.00 and gave the company a "neutral" rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $84.78.

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.