HighTower Advisors LLC Lowers Stock Position in DT Midstream, Inc. (NYSE:DTM)

HighTower Advisors LLC lessened its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 0.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,612 shares of the company’s stock after selling 120 shares during the quarter. HighTower Advisors LLC’s holdings in DT Midstream were worth $2,805,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP boosted 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 purchasing an additional 490,613 shares during the period. Bank of New York Mellon Corp boosted 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 purchasing an additional 38,305 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in DT Midstream by 30.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after acquiring an additional 267,269 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in 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 worth $72,737,000 after acquiring an additional 60,370 shares during the last quarter. Finally, FMR LLC lifted its position in shares of DT Midstream by 1,476.9% during the 3rd quarter. FMR LLC now owns 805,950 shares of the company’s stock worth $63,396,000 after buying an additional 754,839 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Up 0.1 %

Shares of NYSE:DTM opened at $101.62 on Friday. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 24.73 and a beta of 0.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average of $95.20 and a two-hundred day moving average of $80.83. DT Midstream, Inc. has a 52-week low of $51.17 and a 52-week high of $109.85.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data 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 return on equity of 9.31% and a net margin of 41.19%. The firm had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. During the same quarter last year, the business earned $0.94 earnings per share. As a group, analysts forecast that DT Midstream, Inc. will post 3.84 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.89%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wells Fargo & Company lifted their target price 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. The Goldman Sachs Group upped their price target on shares of DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a research note on Tuesday, November 5th. Morgan Stanley boosted their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Barclays upped their target price 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, Stifel Nicolaus lowered shares of DT Midstream from a “buy” rating to a “hold” rating and increased their price objective for the stock from $78.00 to $89.00 in a report on Wednesday, October 30th. Two 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. According to data from MarketBeat, DT Midstream has a consensus rating of “Hold” and a consensus price target of $84.78.

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.