DT Midstream, Inc. (NYSE:DTM) Stock Position Decreased by M&T Bank Corp

M&T Bank Corp lowered its holdings in DT Midstream, Inc. (NYSE:DTM) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,678 shares of the company’s stock after selling 182 shares during the period. M&T Bank Corp’s holdings in DT Midstream were worth $446,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of DT Midstream by 225.4% during the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock worth $11,449,000 after purchasing an additional 100,825 shares during the period. Atria Investments Inc bought a new position in DT Midstream during the 3rd quarter worth $666,000. Bridgewater Associates LP increased its position in DT Midstream by 57.6% in the third quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock worth $14,576,000 after buying an additional 67,725 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 valued at $90,978,000 after buying an additional 267,269 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of DT Midstream by 15.3% during the second quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock valued at $8,657,000 after acquiring an additional 16,171 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Stock Performance

DTM opened at $98.71 on Wednesday. The business has a 50 day moving average price of $96.15 and a two-hundred day moving average price of $81.74. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 24.02 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.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 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 firm had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. During the same period in the prior year, the firm posted $0.94 EPS. Research analysts predict that DT Midstream, Inc. will post 3.84 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given 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 2.98%. DT Midstream’s dividend payout ratio (DPR) is 71.53%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on DTM shares. Morgan Stanley increased their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Wells Fargo & Company upped their target price on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lifted their price target on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a report on Tuesday, November 5th. Stifel Nicolaus lowered 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. Finally, Barclays raised their target price on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, DT Midstream currently has an average 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.