DT Midstream, Inc. (NYSE:DTM) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA cut its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 1.2% in the third quarter, HoldingsChannel reports. The firm owned 77,472 shares of the company’s stock after selling 937 shares during the period. Glenmede Trust Co. NA’s holdings in DT Midstream were worth $6,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its position in DT Midstream by 1,476.9% in the 3rd quarter. FMR LLC now owns 805,950 shares of the company’s stock worth $63,396,000 after purchasing an additional 754,839 shares in the last quarter. International Assets Investment Management LLC purchased a new position in DT Midstream in the third quarter valued at $39,166,000. Dimensional Fund Advisors LP boosted 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 acquiring an additional 490,613 shares in the last quarter. Charles Schwab Investment Management Inc. grew 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, AQR Capital Management LLC increased its stake in shares of DT Midstream by 309.7% in the 2nd quarter. AQR Capital Management LLC now owns 257,101 shares of the company’s stock valued at $18,262,000 after purchasing an additional 194,354 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Stock Up 0.3 %

DTM stock opened at $106.12 on Friday. The stock has a market cap of $10.31 billion, a P/E ratio of 25.82 and a beta of 0.71. The company has a current ratio of 0.95, a quick 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’s 50 day moving average is $90.66 and its two-hundred day moving average is $78.35.

DT Midstream (NYSE:DTM) last issued 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 analysts’ expectations of $242.64 million. During the same period in the previous year, the business posted $0.94 EPS. Research analysts expect that DT Midstream, Inc. will post 3.85 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s dividend payout ratio is currently 71.53%.

Wall Street Analyst Weigh In

DTM has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and raised their target price for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. The Goldman Sachs Group upped their price objective 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 cut shares of DT Midstream from a “buy” rating to a “hold” rating and lifted their price target for the company from $78.00 to $89.00 in a research report on Wednesday, October 30th. Finally, Morgan Stanley increased their target price on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, DT Midstream 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.