ProShare Advisors LLC trimmed its stake in DT Midstream, Inc. (NYSE:DTM – Free Report) by 6.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 200,939 shares of the company’s stock after selling 13,809 shares during the quarter. ProShare Advisors LLC owned about 0.20% of DT Midstream worth $24,006,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in shares of DT Midstream by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 892,353 shares of the company’s stock worth $120,173,000 after purchasing an additional 3,689 shares in the last quarter. Chickasaw Capital Management LLC grew its stake in shares of DT Midstream by 38.0% in the 3rd quarter. Chickasaw Capital Management LLC now owns 522,558 shares of the company’s stock valued at $62,430,000 after buying an additional 143,766 shares during the period. Energy Income Partners LLC grew its stake in shares of DT Midstream by 1.0% in the 1st quarter. Energy Income Partners LLC now owns 429,858 shares of the company’s stock valued at $57,889,000 after buying an additional 4,189 shares during the period. Recurrent Investment Advisors LLC increased its position in DT Midstream by 0.4% in the 1st quarter. Recurrent Investment Advisors LLC now owns 355,156 shares of the company’s stock valued at $47,829,000 after buying an additional 1,370 shares in the last quarter. Finally, First Trust Advisors LP increased its position in DT Midstream by 5.7% in the 1st quarter. First Trust Advisors LP now owns 350,989 shares of the company’s stock valued at $47,268,000 after buying an additional 18,843 shares in the last quarter. 81.53% of the stock is owned by institutional investors.
DT Midstream Stock Down 2.6%
Shares of NYSE DTM opened at $121.11 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.37 and a quick ratio of 1.37. The company has a 50-day moving average price of $125.55 and a 200-day moving average price of $134.63. The stock has a market capitalization of $12.36 billion, a P/E ratio of 26.33, a P/E/G ratio of 1.74 and a beta of 0.72. DT Midstream, Inc. has a 1 year low of $108.13 and a 1 year high of $152.88.
DT Midstream (NYSE:DTM – Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03. DT Midstream had a net margin of 35.72% and a return on equity of 9.58%. The company had revenue of $336.00 million for the quarter, compared to analyst estimates of $337.63 million. During the same quarter in the prior year, the business posted $1.13 EPS. On average, equities research analysts forecast that DT Midstream, Inc. will post 4.64 EPS for the current fiscal year.
DT Midstream Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, December 15th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, December 15th. DT Midstream’s payout ratio is currently 76.52%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on DTM shares. The Goldman Sachs Group reaffirmed a “sell” rating and set a $121.00 price target on shares of DT Midstream in a research note on Wednesday, October 14th. Mizuho reduced their price objective on DT Midstream from $153.00 to $147.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Jefferies Financial Group restated a “buy” rating and set a $150.00 price objective on shares of DT Midstream in a report on Thursday, October 15th. Weiss Ratings lowered DT Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, August 21st. Finally, Barclays lowered their target price on DT Midstream from $143.00 to $142.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 6th. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, DT Midstream currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.50.
Get Our Latest Stock Analysis on DTM
About DT Midstream
DT Midstream, Inc (NYSE: DTM) is an independent North American energy company focused on the transportation, storage and gathering of natural gas. The company owns and operates interstate and intrastate pipeline systems, natural gas storage facilities, and gathering and processing infrastructure that connect producers with utilities, power generators, industrial customers and other energy markets.
DT Midstream’s operations are concentrated in the United States, including the Midwest, Northeast and Gulf Coast regions.
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