Coldstream Capital Management Inc. Makes New $239,000 Investment in DT Midstream, Inc. (NYSE:DTM)

Coldstream Capital Management Inc. acquired a new position in shares of DT Midstream, Inc. (NYSE:DTM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,935 shares of the company’s stock, valued at approximately $239,000.

Several other large investors also recently made changes to their positions in DTM. Dimensional Fund Advisors LP raised its position in DT Midstream by 12.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock worth $312,070,000 after acquiring an additional 490,613 shares in the last quarter. State Street Corp raised its holdings in shares of DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after purchasing an additional 202,447 shares during the period. Geode Capital Management LLC lifted its stake in DT Midstream by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock valued at $162,567,000 after purchasing an additional 85,462 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in DT Midstream by 3.4% during the second quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock worth $82,870,000 after purchasing an additional 38,305 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in DT Midstream by 30.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after buying an additional 267,269 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Trading Down 0.6 %

DTM opened at $99.32 on Tuesday. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 24.17 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. DT Midstream, Inc. has a twelve month low of $51.17 and a twelve month high of $109.85. The company has a 50-day simple moving average of $95.85 and a 200 day simple moving average of $81.52.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The firm had revenue of $248.00 million for the quarter, compared to the consensus estimate 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 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. Shareholders of record on Monday, December 16th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s dividend payout ratio is presently 71.53%.

Analysts Set New Price Targets

DTM has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research report on Tuesday, November 5th. Morgan Stanley lifted 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. JPMorgan Chase & Co. increased their price objective 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. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. Finally, Stifel Nicolaus lowered shares of DT Midstream from a “buy” rating to a “hold” rating and upped their price target for the company from $78.00 to $89.00 in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.